Regulatory Alerts2021-05-21 | DOF 5619058Added · Updated
Agreement of the Board of Directors of the National Commission for the Retirement Savings System Establishing Policies and Criteria on Commissions
The National Commission for the Retirement Savings System (CONSAR) establishes policies and criteria to calculate the maximum commission rate that Retirement Fund Administrators (AFOREs) may charge, defined as the arithmetic average of commission charges in defined contribution systems in the United States, Colombia, and Chile. This maximum is updated annually based on data available through September, with the new cap published by the last business day of October for application in the following calendar year. AFOREs must submit their commission proposals for authorization within the first ten business days of November each year, subject to CONSAR's review for excessiveness based on assets under management, income, cost structures, and market levels.
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