Amendments to the Capital Markets Act and other financial regulations

On May 9, 2018, the Low House passed a law (the “Law”) to boost financing and development of the local capital market, including a package of reforms and updates of the law on capital markets, law on mutual funds, law on negotiable obligations, law on system of tax relief for the purchase of private securities, regulations on money laundering prevention, law on house financing and construction, law on insurance companies and their control, together with the adaptation of some tax provisions and the incorporation of regulations regarding derivatives. The Law still needs to be published and promulgated by the Executive Power.