Regulatory Alerts2023-11-21 | Circular 12/2023Added · Updated
Circular 12/2023 — Modifies Circular 14/2017
The Bank of Mexico modifies the Cybersecurity and Information Technology framework for participants in the Interbank Electronic Payments System (SPEI) by updating definitions for technological infrastructure and introducing new requirements for data centers, cyber resilience, and IT/telecommunications infrastructure. Participants with a relative market share exceeding three percent, as well as securities depository institutions, are required to execute contingency procedures within 365 days and submit compliance reports within 180 days thereafter. The regulation establishes staggered effective dates for specific security controls: December 19, 2023, for general provisions; December 19, 2024, for certain network and access controls; and December 19, 2025, for organizational and physical security measures, with securities depositories required to submit their initial reports by May 19, 2025.
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