May 2019 Managerial Alerts
TERM OF THE NATIONAL CONSTITUENT ASSEMBLY A Constituent Decree whereby the National Constituent Assembly (Asamblea Nacional Constituyente – “ANC”) establishes the period of time of its operation at least until December 31, 2020 was published in Official Gazette No. 41.636 of May 20, 2019 (the “Decree”). Likewise, the ANC ordered the notification of the…
VALUE OF UNIT FOR ARITHMETICAL CALCULATION OF MAXIMUM AND MINIMUM THRESHOLD (UCAU) Joint Resolution No. 003/2019 and No. 023/2019, issued by the Ministry of the Popular Power for Planning and the Ministry of the Popular Power for Economy and Finance, respectively, was published in Official Gazette No. 41.635 of May 17, 2019 (the “Resolution”).…
FOREIGN EXCHANGE INTERMEDIATION INDEX Resolution No. 19-05-02, issued by the Venezuelan Central Bank (“VCB”), was published in Official Gazette No. 41.633 of May 15, 2019 (the “Resolution”). Said Resolution established that the banking institutions governed by the Law of Institutions of the Banking Sector, in the frame of the execution of the transactions of…
BANK INSTITUTIONS AUTHORIZED TO ACT AS EXCHANGE OPERATORS Resolution No. 19-05-01, issued by the Venezuelan Central Bank (“VCB”), was published in Official Gazette No. 41.624 of May 2, 2019 (the “Resolution”). The Resolution established that the “bank institutions governed by the Decree with the Status, Value, and Force of Law of the Banking Sector…
