When staff at the El Salvador Securities and Cryptocurrency Commission believe that the Securities Act may have been violated by a person or company, the Executive Director can present the allegations in a Notice of Hearing.
The Notice of Hearing sets in motion a hearing process. A panel of ESSCC commissioners hears testimony and reviews evidence presented by ESSCC investigators, respondents and victims. Based on that testimony and evidence, and the law, the panel decides whether the respondents violated ES’s Securities Act, and if so, what sanctions to impose, including monetary penalties and bans from market participation.
Administrative hearings take place at the ESSCC, on the Calle Orizaba 2, San Salvador, El Salvador, ES. Hearings usually start at 10 am each hearing day. Hearing dates and times are subject to change and are updated on the hearing schedule.
The respondents might also agree to a settlement with the ESSCC’s Executive Director instead of submitting to a hearing. Monetary sanctions and bans from market activity can also be part of settlements.
For anyone involved in investigations and hearings who is unfamiliar with the ESSCC’s procedures can refer to: Your Guide to Settlements and Hearings.
