Autor: jholguin@bustamantefabara.com
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Use of Biometric Systems for Employee Attendance Tracking.
RELEVANT ASPECTS The Superintendence of Personal Data Protection (“SPDP”) has issued a statement regarding the use of biometric systems for employee attendance tracking. The SPDP has assessed whether this type of processing of sensitive personal data complies with the principles and lawful bases established under the Ecuadorian Data Privacy Act (“LOPDP”). KEY FINDINGS OF THE…
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The new Regulation on the Production and Primary Processing of Non-Psychoactive Cannabis and Industrial Hemp is published in the Official Register.
Through the issuance of Ministerial Agreement No. 003, issued on January 10, 2025 and published in the Official Gazette No. 762 on March 14, 2025, the Ministry of Agriculture and Livestock issued the new Regulation on the Production and Primary Processing of Non-Psychoactive Cannabis and Industrial Hemp (hereinafter «Regulations»). Certain relevant aspects to consider are…
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EXTENSION OF THE USE OF LABELS ON PRODUCTS WITH A VAT RATE OF 12% UNTIL DECEMBER 31, 2024
On March 15, 2024, by means of Executive Decree No. 198, the President of the Republic decided to modify the general rate of Value Added Tax – VAT from 13% to 15%, for the year 2024, general rate that will be applicable as from April 1, 2024.
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MANDATORY TECHNICAL GUIDE FOR THE REGISTRATION OF REPRESENTATIVES OF FOREIGN CONTROLLERS, JOINT CONTROLLERS, AND PROCESSORS CARRYING OUT PERSONAL DATA PROCESSING ACTIVITIES IN THE REPUBLIC OF ECUADOR.
On September 6, 2024, the Superintendence of Personal Data Protection issued the Technical Guide, which establishes the requirements for foreign Regulated Subjects operating in Ecuador to Designate a representative in the country. This aims to ensure the protection of Ecuadorian residents’ data, facilitating the exercise of their rights and ensuring compliance with the personal data…
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THE EXECUTIVE BACKTRACKED ON THE DOUBLE VETO TO THE REFORM LAW OF SOCIAL SECURITY AND BIESS AND FINALLY SENT IT FOR PUBLICATION IN THE OFFICIAL REGISTER.
Less than a week ago, the Assembly and the Executive clashed over a second veto to the Reform Law of Social Security and the BIESS Bank Law sent from the Presidency. This law came into effect on July 22, 2024, and was finally sent for publication in Official Register No. 605. However, it announced that…
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REFORMS TO THE STANDARD FOR THE CONTRACTING OF INSURANCE POLICIES AND PREPAID MEDICINE PLANS THROUGH ALTERNATIVE DISTRIBUTION CHANNELS
On July 4, 2024, the Financial Policy and Regulation Board, through resolution No. JPRF-S-2024-0116, amended the Standard for the Promotion and Contracting of Insurance Policies and Prepaid Comprehensive Health Care Plans through Alternative Distribution Channels. These reforms introduce significant changes to certain obligations of insurance and prepaid medicine companies when marketing their products through Alternative…
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CODIFIED REGULATION FOR THE REGULATION OF HYDROCARBON PRODUCTS PRICE
By Executive Decree No. 308 of June 26, 2024, the President of the Republic of Ecuador, Daniel Noboa Azín, repealed the hydrocarbon products price Regulation issued by Executive Decree No. 338 of the year 2005 and issued the Codified Regulation for the Regulation of hydrocarbon products price(hereinafter “Regulation” or “Executive Decree”), which sets new prices…
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BUSTAMANTE FABARA ACTED AS ECUADORIAN COUNSEL FOR PRIMAX, A SUBSIDIARY OF ROMERO GROUP, IN THE ACQUISITION OF TERPEL´S GAS STATIONS IN ECUADOR AND PERU
BUSTAMANTE FABARA acted as Ecuadorian counsel for PRIMAX, a subsidiary of Romero Group, in the acquisition of Terpel’s gas stations in Ecuador and Peru. This transaction, valued at US$64 million, involved the acquisition of assets in Peru and the acquisition of 140 gas stations of Terpel Comercial Ecuador Cía. Ltda. in Ecuador and Peru.
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BUSTAMANTE FABARA REPRESENTED IDB INVEST IN CONNECTION WITH A SECURED FINANCING TO QUASAR EXPEDITIONS
BUSTAMANTE FABARA is pleased to announce its role as legal advisors to Solaris Resources Inc in their recent landmark agreement with Empresa Nacional de Minería (ENAMI EP), marking a major stride in mining exploration within Ecuador.
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BUSTAMANTE FABARA LEADS SOLARIS RESOURCES INC IN PIONEERING MINING EXPLORATION DEAL IN ECUADOR
BUSTAMANTE FABARA is pleased to announce its role as legal advisors to Solaris Resources Inc in their recent landmark agreement with Empresa Nacional de Minería (ENAMI EP), marking a major stride in mining exploration within Ecuador.