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Afp Rules Are Changed: Sbs Will Allow Banks and Insurers to Manage Pension Funds
Summary by La República
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The Superintendency of Banking, Insurance and AFP (SBS) took a decisive step in the process of incorporating new participants into the Private Pension System (SPP), by setting the conditions for these potential competitors.Financial institutions (banks, municipal and financial banks) and insurers with a rating of financial strength of B+ or higher, will be able to operate as Fund Management Companies (EAF) in the private pension system.The manag…
The SBS adopted a regulation renewing the regulation of the private pension system and creating a mechanism for new financial institutions to compete with PFAs under the same rules.
·Lima, Peru
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