Regulatory Alerts2017-02-09 | Circular 1/2017Added
Circular 1/2017 — Modifies Circular 3/2012
The Bank of Mexico modifies Circular 3/2012 to simplify access to clearing house services and ensure fair competition by prohibiting entry barriers and bundling of services. Credit institutions and the Financiera Nacional de Desarrollo Agropecuario, Rural, Forestal and Pesquero must allow equal access to all clearing services, permit separate contracting of individual services, and ensure transparent admission and withdrawal conditions. Existing clearing houses must submit proposed service contract terms and tariff modifications for authorization within 120 days of the circular's entry into force.
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