The social and political climate towards RegTech-services is indifferent. There are no apparent reservations.
RegTechs are not directly regulated nor need a governmental authorization to be set up.
This information is not published by Dominican authorities.
Although as indicated above RegTechs are not directly regulated nor need a governmental authorization to be set up. Pursuant to Law 126-02 on E Commerce, Electronic Documents and Digital Signature., electronic trade of goods and services in general is valid in the Dominican Republic, subject to any special regulation that may be established for a specific sector.
However entities offering services similar to those described as Reg Tech that offers those services to financial institutions would have to comply with the provisions of Instructive 011/12 on Service Outsourcing issued by the Superintendence of Banks, that requires for entities providing outsourcing services for areas considered as material for the operation of Financial Intermediation Entities, to get an authorization from the Monetary Board to provide services to Financial Intermediation Services, which in turn requires that the services providers commit to fulfilling the regulation that would be applicable to the Financial Institution to which the services are provided regarding compliance with applicable regulation.
José Cruz Campillo
Santo Domingo, Dominican Republic