Law No. 172-13 on the Protection of Personal Data
Credit information companies (SIC), users and data providers – Law No. 172-13 on the Protection of Personal Data

Law No. 172-13 on the Protection of Personal Data 33: Fit and proper directors; no bank ownership

What does 33 require?

Directors and the general manager may not be persons convicted by final judgment, barred from commerce or public or financial office, undischarged bankrupts, or persons regulating or supervising SICs; the appointment of the general manager is notified to the Superintendencia within five business days with a statement that requirements are met; no representative of a financial intermediary may be a director or manager, and no financial intermediary may hold shares or investment instruments in a SIC.

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