New Rules for Communal and Savings Funds: A Framework of Control and Transparency

On September 10, 2025, the Superintendence of Popular and Solidarity Economy (SEPS) issued the Control Regulation for the Incorporation, Governance, and Liquidation of Communal and Savings Funds, a resolution published in Official Registry Supplement No. 135 on September 30, 2025, which will be in force since November 20, 2025.

This new regulatory framework represents a milestone in the governance of the popular and solidarity financial sector, establishing clear rules for the operation, supervision, and eventual liquidation of these entities.

In accordance with the Constitution of the Republic and the Organic Monetary and Financial Code, communal and savings funds constitute instruments of financial inclusion and community cooperation. Their role is essential: they enable community, trade, family, or neighborhood groups to manage resources, grant internal loans among members, and strengthen the popular economy.

The approved regulation introduces several key provisions:

• Incorporation and Legal Personality: requires a verifiable common link, a minimum of ten founding members, and the submission of statutes and incorporation minutes.
• Governance and Internal Control: entities must maintain governance, executive, and supervisory bodies, subject to rules on transparency, accountability, and limits on the re-election of authorities.
• Risk Management: mechanisms for the prevention of money laundering and the financing of criminal activities are reinforced.
• Liquidation Procedures: detailed processes are established for voluntary, compulsory, or judicial dissolution, ensuring the protection of members and the fulfillment of outstanding obligations.

A key aspect is the extraordinary transitional regime, which obliges existing funds to update their statutes and register in the public registry within a specified period. Simultaneously, a moratorium has been established, prohibiting the incorporation of new communal and savings funds, except in expressly regulated extraordinary incorporation and adaptation processes.

In conclusion, this regulatory framework seeks to balance community autonomy with legal and financial security, providing greater transparency and stability to the popular and solidarity financial sector in the country.

At Quevedo & Ponce, we provide comprehensive legal advisory services for the incorporation, statutory adaptation, regulatory compliance, and liquidation of entities within the popular and solidarity financial sector. Our team, specialized in financial and corporate law, ensures strategic and rigorous guidance before the regulatory authorities.