The Central Bank of Costa Rica issued a public clarification on its role in relation to commodity exchanges and commodity exchange brokerage posts, following recent events involving these entities. It stressed that it has no legal authority to regulate or supervise commodity exchanges, brokerage posts, or other participants in this securities market. Under Article 400(c) of the Commercial Code, the central bank’s mandate is limited to “vigilance” over commodity exchanges only, carried out mainly on the basis of rules proposed by the relevant exchange. The statement distinguishes this function from regulation and supervision, noting that the Bank lacks the power to set or amend binding rules for regulated entities, to supervise compliance with its own rulebook, or to impose sanctions, and it has no responsibilities regarding brokerage posts, which are authorised and regulated by the commodity exchanges. The Bank pointed to pending draft law No. 24.781, the Law for the Regulation of Commodity Exchanges, as a way to address the legal gap on regulation, supervision and sanctions, and called for it to be enacted as soon as possible.
Central Bank of Costa Rica 2026-04-24
Central Bank of Costa Rica reiterates it cannot regulate or supervise commodity exchanges and urges swift passage of a regulation bill
The Central Bank of Costa Rica clarified it lacks legal authority to regulate or supervise commodity exchanges, brokerage posts, or other securities market participants, and that its role is limited to “vigilance” over commodity exchanges under Article 400(c) of the Commercial Code. It stressed this vigilance excludes setting or enforcing binding rules, supervising compliance, imposing sanctions, or overseeing brokerage posts, which are regulated by the exchanges themselves. The Bank called draft law No. 24.781 on commodity exchange regulation necessary to close this legal gap and urged its prompt enactment.