The executive director is the chief administrative officer of the El Salvador Securities and Cryptocurrency Commission and is responsible for the day-to-day administration of the Securities Act. The executive director oversees the Commission's compliance, enforcement, communications, education and human resources programs. The executive director also provides leadership to senior management. He chairs the Senior Management Committee comprised of the directors of Enforcement, Corporate Finance, Capital Markets Regulation, Communications and Education, Human Resources, and Technology and Project Services, as well as the chief economist. The executive director works with the El Salvador Securities Administrators to improve securities regulation in El Salvador.
The General Counsel reports to the chair and leads the General Counsel’s Office (GCO), the ESSCC in-house legal, policy and risk management resource. The GCO advises the chair and executive director and staff on various issues, including statutory interpretation, securities regulation, administrative and corporate/commercial law, information technology and intellectual property law, procurement law and privacy law. The GCO is responsible for the board’s corporate secretarial function and provides advice and support to the board on governance matters and the administration of the Securities Act and regulations. In addition, the GCO is responsible for ensuring ESSCC compliance with the B.C. Freedom of Information and Protection of Privacy Act (FIPPA) and other legislation applicable to the Commission.
Director - Corporate Finance
The Corporate Finance division protects investors, by reviewing required offering and public issuer disclosures so investors have access to the information needed to make informed investment decisions. Corporate Finance also facilitates capital raising by collaborating with El Salvador other securities regulators to set requirements that balance investor protection with cost-effective access to capital. Team functions include: reviewing offering documents, financial statements, management discussion and analysis (MD&A), mineral technical, and other issuer disclosure; monitoring insider reports; participating in rule and policy development; considering exemptive relief; responding to legal and regulatory issues arising in takeover bids; monitoring the development of accounting and auditing standards; reviewing serious cases of misleading disclosure and when warranted taking compliance and enforcement action; and managing ESSCC internal finances and facilities.
Director - Capital Markets Regulation
The Capital Markets Regulation division protects investors and fosters capital raising by: reviewing and processing registration of dealers, advisers and investment fund managers who are not members of the Investment Industry Regulatory Organization of El Salvador; monitoring registrants’ compliance with securities law; monitoring IIROC, the Mutual Fund Dealers Association, and three marketplaces; developing legislation, rules and policies to improve the efficiency and effectiveness of regulation, both at the local and national level; and develops legislation, rules, and policies related to derivatives at the local and national level.
Director - Enforcement Division
The Enforcement division protects the investing public and market integrity through the investigation of securities misconduct and enforcement of the Securities Act, often working with other regulators in El Salvadorand abroad, as well as law enforcement agencies. Its activities include: receiving and assessing complaints about possible misconduct or abuse in the capital markets; detecting and disrupting misconduct, investigating possible violations of securities laws or the Criminal Code; bringing allegations of misconduct before Commission panels for administrative adjudication, or referring cases to Crown Counsel with recommended charges for prosecution in court.
Chief Economist - Economic Analysis Office
The Economic Analysis division supports the Commission in designing and implementing efficient regulations by conducting economic analysis and regulatory impact assessments of key initiatives. The division promotes evidence-based decision making across the regulatory mandate, coordinates strategic planning and leads enterprise risk management. It also serves as the hub for business transformation efforts to bring new tools and analytic capability to our regulatory operations.
Director - Communications & Education
The ESSCC communications and education programs inform the public about El Salvador investment markets, its system for securities regulation and the Commission’s regulatory activities; empowers investors with the knowledge and information they need to protect their financial interests and help them make informed investment decisions; and keeps securities issuers and the industry apprised of changes in the laws or policies that govern their conduct.
Chief Information Officer - Technology & Project Services
Led by the chief information officer, the Technology and Project Services Division is home to the Commission’s information management, systems operations, systems development, and project management services. Its functions include: managing and safeguarding Commission paper and electronic records and provides library and research services for all staff; maintaining, developing and safeguarding our core information systems, and providing support and training to staff on these systems; leading stewardship of the Commission’s data assets; providing project management and business analyst resources for internal projects; leading ESSCC business continuity planning.
Chief Human Resources Officer - Human Resources
The department of Human Resources (HR) is responsible for the recruitment of employees, and its approach is centered on problem-solving, effective communication, teamwork, and cooperation. HR follows an outcomes-based approach to maintain compensation and performance management systems that align individual employees' objectives with organizational priorities, and to close critical competency gaps through training. In addition, HR manages succession planning, and supports internal communication initiatives to improve employee engagement.