The Office of the Commissioner of Financial Institutions of Puerto Rico published a proposed regulation setting a clear, standardised procedure for requesting and issuing administrative determinations under laws and regulations within its jurisdiction, and establishing a framework to charge fees for handling those requests. The proposal is positioned as a partial cost-recovery mechanism given the legal, regulatory and technical resources required, while stating it does not create an additional fiscal impact for the agency. The draft applies to all natural and legal persons seeking clarifications, no-objection determinations or interpretations, and sets out when the Office will not issue determinations, including hypothetical questions, matters pending in other fora, matters under Office examination or investigation, moot requests, or general consultative opinions not tied to a live transaction. It requires a formal, complete submission in final form, limits requests to one issue (with multiple issues treated as separate requests requiring separate full fees), and conditions acceptance and processing on completeness and payment, with the Office able to request additional information and archive the request if deadlines are not met. The proposal also clarifies that determinations are case-specific, do not create rights or binding precedent, may be modified or revoked in certain circumstances, and that any request to revisit a determination is treated as a new request subject to the same requirements and charges. The draft provides that fees will be set and updated by circular letter, that special laws establishing charges take precedence, and that earlier circular letters from 1994 and 1995 on interpretive requests would be repealed. The regulation would enter into force 30 days after filing with the Puerto Rico Department of State.
Office of the Commissioner of Financial Institutions of Puerto Rico 2026-04-13
Office of the Commissioner of Financial Institutions of Puerto Rico proposes a uniform process and fee framework for administrative determinations
The Office of the Commissioner of Financial Institutions of Puerto Rico has proposed a regulation establishing a standardised procedure and fee framework for administrative determinations on laws and regulations within its jurisdiction. The draft sets scope, submission and admissibility criteria, clarifies that determinations are case-specific and non-precedential, and provides that fees will be set by circular letter, with earlier interpretive circulars from 1994 and 1995 to be repealed.