Superintendencia de Bancos simplifies regulatory reporting for financial entities

The Superintendencia de Bancos (SB) in the Dominican Republic has introduced a new mechanism to simplify the fulfillment of regulatory information requirements. Under the Simplification, Modernization, and Self-Management of Regulatory Compliance strategy (SIMA), financial intermediation entities, exchange intermediaries, and fiduciaries can now request evaluations to inactivate reporting obligations that do not apply to their specific business models.

Previously, entities were required to submit all established reports even if they generated no data for a specific period, often resulting in the submission of empty files or blank documents. The new process, established via Circular SB: CSB-REG-2026000016, utilizes a risk-based evaluation to determine if an obligation can be inactivated or later reactivated. The SB stated that while previous methods strengthened controls, they also created unnecessary operational burdens for certain entities. The regulator will analyze each request to ensure that the quality, timeliness, and traceability of supervisory information are maintained.