The new supervisory body merges the former Superintendency of Securities, Pensions and Finances.
Entitled the Superintendencia del Sistema Financiero (Financial Superintendency System), the body will presided over by Victor Ramirez, who served as chief of the superintendency of the same name.
The purpose of the institution is to supervise financial groups more efficiently using a single organization, rather than three different ones.
The country's competition regulator is evaluating four requests for local companies to be purchased in the communication, pensions and trade sectors.
The four requests received by El Salvador's competition regulator (SC in Spanish) are:
- América Móvil purchase of Digicel
- Protección SA is seeking to buy AFP Crecer
- Tigo wants shares in Telefónica Multiservicios, which provides residential Internet services
99.99% of AFP Crecer was acquired for $103 million by Colombian company Protección S.A.
While the transaction has already been signed by both companies, the approval of financial supervisory authorities still remains.
"Proteccion SA is a pension fund manager which manages pension savings for more than three million workers across Colombia," published Laprensagrafica.com.