Regulatory Alerts2023-02-01 | Circular 1/2023Added · Updated
Circular 1/2023 — Modifies Circular 13/2012
The Bank of Mexico modifies the Electronic Attention Module (MAE) and Commission Registration System (RECO) rules to streamline the accreditation, modification, and revocation of representatives and operators. The circular introduces new definitions for roles such as Qualified Representative, MAE Representative, and RECO Operator, and establishes specific submission deadlines, including a five-business-day advance notice for initial accreditation. It also sets distinct operational hours for document receipt, with the MAE accepting submissions until 16:00 and the RECO until 18:00 on business days, and explicitly revokes Circular 9/2021.
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