This Regulation and accompanying Standards apply to all Licensed Financial Institutions licensed by the Central Bank in relation to their activities specified in Article 65 of the Decretal Law No. 14 of 2018 Regarding the Central Bank & Organization of Licensed Financial Institutions and Activities in provision of Financial Products and/or Services to Consumers that are Natural Persons and Sole Proprietorships.

This Regulation and the accompanying Standards are in addition to any requirement of any other regulatory authority as applicable to Licensed Financial Institutions. In case of any conflict with such requirement, the provisions of this Regulation and accompanying Standards will prevail.

Where this Regulation or its accompanying Standards include requirements to provide information or take certain measures or to address certain items listed as a minimum, the Central Bank may impose requirements that are additional to the listing provided in the relevant Articles.

The Central Bank’s Financial Consumer Protection Department may issue further guidance relating to the Regulation and Standards.