Consortium Legal - El Salvador

Good corporate governance is fundamental for the stability, sustainability, and efficiency of financial institutions. In El Salvador, the regulation of these institutions is governed by local legislation and regulations that contain good practices established in international principles, particularly those of the Organization for Economic Cooperation and Development (OECD) and the Basel Committee on Banking Supervision. These principles have been largely adopted by local regulations, specifically in the Corporate Governance Technical Standards (NRP-17) issued by the Central Reserve Bank...

Simplified Stock Companies (SAS) have been implemented in El Salvador as a corporate solution aimed at micro-entrepreneurs and informal sector merchants who, due to entry barriers established in various regulatory bodies, were discouraged from forming a traditional corporate vehicle (e.g., Corporation, Limited Partnership, Limited Liability Company, among others) to conduct their business.   In pursuit of the objective mentioned above, the reforms to the Commercial Code (C. Com...

Consortium Legal, one of the leading legal firms in Central America, announces the evolution of its brand as part of its commitment to continuous improvement and to stay ahead in the market. With the largest legal team in the region, Consortium has always been committed to excellence and innovation to provide the best service to all its clients. This brand evolution is a response to a constant review of the Firm's values ​​and principles, and a desire to continue offering the best legal services in the region. “We are power that evolves. We are very pleased to present a new image that represents the dynamism, power and solidity of our firm...

The Development Banking System (SBD) was created in 2008 by Law N ° 8634, reformed in 2014 by Law N ° 9274. As its name indicates, it is a system that comprises organizations of different nature, whose purpose is to finance and promote technically and economically feasible productive projects, in accordance with the country’s development model in relation to the social mobility of the system’s beneficiaries, which are defined in article 6 of the Development Banking System Law...