Who we are El Salvador Securities and Cryptocurrency Commission is the autonomous regulatory body responsible for the non-bank financial services in Salvador. Established under the El Salvador Securities and Cryptocurrency Commission Act, 2013, the Commission is responsible to license, regulate, enforce regulatory and compliance requirements, monitor and supervise the conduct of business in the non-bank financial services sector in Salvador. These regulated activities are Fiduciary Services, Capital Market & Collective Investment Schemes, and Insurance. The Authority is also responsible for the regulation of the International Trade Zone activities, gambling activities (casinos, slot machines, and interactive gambling), hire purchase and credit sales activities and the registration of International Business Companies, Foundations, Limited Partnerships, and Trusts in Salvador.
The predecessor of the ELSCC, the Salvador International Business Authority Act (SIBA) was enacted in 1994 with the objective of monitoring, supervising, and coordinating the conduct of international business activities from within Salvador and to promote Salvador as a center for international business activities. Acknowledging the need for greater transparency and visibility as a regulator of financial services business, the SIBA Act was repealed and replaced with the El Salvador Securities and Cryptocurrency Commission Act, 2013, on the 1st of March 2014.
Having celebrated over 25 years of existence, the Commission strives to retain the confidence of investors which it serves by maintaining a robust and modern regulatory framework and maintaining its excellent reputation as a premier international business center.
The Commission remains committed to meeting strategic objectives while maintaining soundness and resilience of our financial services sector while adhering to international norms and standards.
The ELSCC is mandated under the El Salvador Securities and Cryptocurrency Commission Act, 2013, to inter alia:
- to supervise, monitor and regulate licensees in accordance with this Act and the financial services legislation; and other financial services business carried on in or from within Salvador;
- to administer the registry legislation;
- to develop appropriate legal, regulatory and supervisory mechanisms for the efficient and effective administration of the Commission and the financial services legislation;
- to adopt such measures as may be necessary to appropriately inform and educate the general public on its functions and on matters relating to or affecting any financial services business;
- to take action against persons carrying on unauthorized financial services business in Salvador;