August 22, 2024, 11:27 PM
August 22, 2024, 11:27 PM
The company iBolsa Sociedad de Titularización SA clarified that it is a completely different entity, with functions and objectives different from those of iBolsa Agencia de Bolsa, a firm whose operating license was permanently suspended by the Financial System Supervisory Authority (ASFI).
In contact with EL DEBER, Renzo Arredondo, legal representative of iBolsa Sociedad de Titularización SA, said that it is a Bolivian company dedicated to structure processes for the securitization of assets, property or rights over future flowsin addition to purchasing these to securitize them by unilateral act or by irrevocable transfer. The company was established on June 20, 2014 and has been authorized by the Financial System Supervisory Authority (ASFI) since February 1, 2017, under registration number ASFI/DSUSC-ST-IST-001/2017.
iBolsa Sociedad de Titularización SA has as its main mission to provide services of feasibility study, structuring and securitization, and asset management self-employedensuring that processes are carried out in accordance with the country’s legal and financial regulations. The company operates exclusively in the city of La Paz.
Arredondo reiterates that this entity has no relationship with iBolsa Stock Agency, and regrets any confusion this may have caused to its customers and the general public.
As you may recall, ASFI sanctioned iBolsa Stock Agency for breaches of the Securities Market Law which resulted in the sanction of definitive cancellation of the ASFI Securities Market Registry, in accordance with Resolution ASFI/812/2024. Likewise, in 2023 failed to comply with 236 repurchase agreements, harming 20 stock market participants and adding an economic damage of Bs 577 million.
