Regulatory Alerts2023-12-21 | Circular 20/2023Added · Updated
Circular 20/2023 — Modifies Circular 36/2010 (Mandatory Adoption of the Fee Categories Catalog)
Circular 20/2023 mandates the adoption of a mandatory fee categories catalog published by the Bank of Mexico, requiring financial entities to register fees using standardized categories. Entities must submit a work plan by April 15, 2024, and complete the transition to the new naming conventions by January 15, 2026, after which non-compliant fee registrations will be cancelled. The circular also establishes specific procedures for registering new fees, modifying existing names, and requesting new categories not currently in the catalog, with a three-month review period for such requests under transitional provisions.
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