Mexico | Financial Regulation. August 2024

Summary

We present a summary and analysis of the most relevant developments and publications in Mexico's financial regulatory landscape.

Key points

• Key points:
• SHCP adjusts banks' AML/CFT rules aligning them to international standards, as well as facilitating remote on-boarding, among others changes.
• CNBV adjusts banks' operational risk capital requirement rules in line with the Basel Committee's standards.
• CNBV introduces to the single banking handbook the regulatory framework applicable to the new "technological base" banking agents.
• Mexico City's Congress approved an amendment to the local constitution modifying the principles under which the local judiciary will carry out its functions.
• Banco de México submits to public consultation the repurchase agreement framework applicable to the newly created hedge funds (Fondos de Inversión de Cobertura).

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