Regulatory Alerts2018-07-27 | Circular 10/2018Added
Circular 10/2018 — Modification of Circular 13/2017
The Bank of Mexico amends the General Provisions applicable to SPEI participants to strengthen risk mitigation measures, specifically targeting entities that professionally exchange or trade virtual assets. The modifications introduce new obligations for participants to identify these clients, apply enhanced due diligence, maintain information security officers, and implement specific controls on fund availability and transfer orders. These requirements apply to credit institutions and other companies providing professional fund transfer services.