On April 9, 2025, the Board of Financial Policy and Regulation, through Resolution No. JPRF-M-2025-0147, in Book III of the Codification of Monetary, Financial, Securities, and Insurance Resolutions, within Title VII on the “Technical Prudential Standards for Companies Financing Comprehensive Prepaid Health Care Services,” introduced Chapter III regarding the “Regulation on Mandatory Investments for Companies Financing Comprehensive Prepaid Health Care Services,” establishing the following:
MAIN GUIDELINES:
- The mandatory establishment of Mandatory Investments for these companies is instituted, setting the policies, procedures, and guidelines that must govern the management of the mandatory investment portfolio, in compliance with the principles of security, liquidity, diversification, and profitability.
- The creation of an Investment Rating Committee becomes mandatory. Consequently, it is required to amend the company’s bylaws to regulate the formation and duties of this Committee, which must be established within three months from April 9, 2025.
- The specific types of assets and financial instruments in which mandatory investments may be made have been thoroughly defined.
- Investments in related parties are prohibited, according to the affiliation parameters set forth by the Regulation.
- In the event of a mandatory investment shortfall, the company must notify the Superintendency of Companies, Securities and Insurance (SCVS). If the shortfall is not corrected, the company could be subject to a Regularization Process as ordered by the Authority.
- Within three months from April 9, 2025, companies must report to the SCVS the composition of their deferred assets and liabilities accounts as of the years 2022, 2023, 2024, and the first two quarters of 2025.
- Within one month from April 9, 2025, the SCVS must define the timeline for the application of the Regulation, which must be fully operational within one year.
- Additional deadlines are granted to the SCVS to define issues related to investment matching, reporting forms, and the accounting accounts that must be used, among others.
For additional information, please contact:
Dra. Mariana Villagómez: mvillagomez@bustamantefabara.com