On November 27, 2023, the President of the Republic submitted to the Legislature the draft of the “Law for Economic Efficiency and Job Creation”. The draft bill was classified as urgent; therefore, it must be processed by the National Assembly within the next 30 calendar days.
Under Resolution No. ARCERNNR-031/2023, effective since November 1, 2023, the Agency for Regulation and Control of Energy and Non-Renewable Natural Resources (“ARCERNNR”) issued Regulation No. ARCERNNR-008/23 containing the "Framework for Distributed Generation Enabling Self-Sufficiency Among Regulated Electric Energy Consumers".
The Constitutional Court, by means of a judgment in Case 51-23-IN, dated November 9, 2023, notified on November 17, 2023, declared Presidential Decree 754 unconstitutional, considering that it violates the constitutional rule of reserve of law.
On January 12th, 2020, the Constitutional Court of Ecuador issued the ruling 58-11-IN/22, by which the Law for Environmental Promotion and Optimization of State Revenue was declared unconstitutional for infringing the unity of subject matter principle.
On November 6, 2023, the President of the Republic signed the Executive Decree 904, through which the Regulation of the Law on Personal Data Protection is issued.
By Resolution No. SCVS-INC-DNCDN-2023-0022 dated October 26, 2023, published in the First Supplement of the Official Gazette No. 428 of October 31, 2023, the Superintendent of Companies, Securities and Insurance ordered the repeal of Resolution No. SCVS-INC-DNCDN-2023-0019 dated August 29, 2023, which established the “Guidelines of probity and civil capacity of companies or individuals which act as legal representatives or officers of companies subject to the control and supervision of the Superintendence of Companies, Securities and Insurance”.
Through Resolution JPRF-F-2023-076 (hereinafter "Resolution"), issued on September 11, 2023, and published in the Second Supplement to the Official Gazette 402 of September 22, 2023, the Board of Financial Policy and Regulation (hereinafter "JPRF") enacted "Regulations for Fintech Entities”.
Through Resolution SENAE-SENAE-2023-0080-RE, issued on September 27, 2023, and published in the Second Supplement to the Official Gazette 412 of October 6, 2023, the National Customs Service of Ecuador made more flexible the deadlines for requesting the regularization of inventories due to shortages of goods identified after the import customs declaration (DAI) has been transmitted and the release has been carried out.
By Decree 876 dated September 15, 2023, and published in the Supplement of the Official Gazette 401 of September 21, 2023, the President of the Republic issued the Regulations of the Decree-Law for Strengthening the Family Economy.
By Resolution NAC-DGERCGC23-00000025 issued on September 13, 2023, and published in the Second Supplement to the Official Gazette No. 396 of September 14, 2023, the General Director of the Internal Revenue Service (“SRI”) amended Resolutions NAC-DGERCGC15-00000455 and NAC-DGERCGC16-00000532 which regulate the filing of the Annex of Related Party Transactions and the Comprehensive Transfer Pricing Report.
By Resolution No. SCVS-INC-DNCDN-2023-019 dated August 29, 2023, published in the Second Supplement of the Official Gazzete No. 394 of September 12, 2023, the Superintendent of Companies, Securities, and Insurance issued the “Guidelines of probity and civil capacity of companies or individuals which act as legal representatives or officers of companies subject to the control and supervision of the Superintendence of Companies, Securities and Insurance” (the “Guidelines”).
On August 23, 2023, President Guillermo Lasso issued Executive Decree No. 850, which contains the General Regulations of the Organic Law on Communication.