Regulatory Implications of the Duty of Care in Ecuadorian Corporate Legislation

Abstract

In Ecuador, the last reform to the Companies Law, in December 2020, was doubtlessly a historical milestone. This paper centers its analysis in the control authority's faculties, called to regulate the duty of diligence application, by resolutions. Through the support of international experience viz, Common Law and Colombia. Thus, that resolution from the Companies, Values, and Insurance, with the purpose of taking as starting point the models of conduct of the duty of diligence used abroad. Thus, achieving the implementations of guidelines of the extent of the aforementioned rule. It is concluded that the topic approached is lowly studied in the country and deserves to have a wider answer, even the international criteria are not named in the currently in force companies' law or developed in judicial decisions.