Regulatory Alerts2024-10-08 | Circular 11/2024Added · Updated
Circular 11/2024 — Modifications to Circular 4/2012 (Cross-Border Information Exchange)
The Bank of Mexico amends sections 12.2 and 12.3 of the Rules for the Execution of Derivative Operations to update the regulatory framework for cross-border information exchange with recognized foreign trade repositories. The revision aligns recognition criteria with the 2012 Principles for Financial Market Infrastructures issued by the Bank for International Settlements and IOSCO, while maintaining the requirement for prior written authorization from counterparties to ensure compliance with confidentiality provisions. These modifications apply to credit institutions, brokerage houses, investment funds, and other specified financial entities, and enter into force on January 9, 2025.
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