Circular 28/2010 — Amending Circular 115/2002

CIRCULAR 28/2010
Mexico, D.F., September 30, 2010.
TO BROKER-DEALERS:
SUBJECT: AMENDMENTS TO CIRCULAR 115/2002

The Bank of Mexico, based on the provisions of Article 28 of the Political Constitution of the United Mexican States, sixth and seventh paragraphs; Articles 24, 26, and 32 of the Bank of Mexico Law; Article 176 of the Securities Market Law; Article 22 of the Law for Transparency and Regulation of Financial Services; Article 8, third and sixth paragraphs; Article 10, first paragraph; Article 14, first paragraph in relation to Article 25, fraction II; and Article 17, fraction I of the Internal Regulations of the Bank of Mexico, which grant it the authority to issue provisions through the General Directorate of Financial System Analysis and the Directorate of Central Bank Regulations, respectively; as well as the Sole Agreement on the Affiliation of the Administrative Units of the Bank of Mexico, fractions III and IV; and considering the issuance of the "General Provisions referred to in Article 212 of the Securities Market Law" by the Ministry of Finance and Public Credit, published in the Official Gazette of the Federation on September 9, 2010, has resolved to add a fourth paragraph to section CB.3.1.2 of Circular 115/2002, to read as follows:

CB.3 OPERATIONS WITH FOREIGN CURRENCY, COINED METALS, AND FOREIGN EXCHANGE RISK POSITIONS

CB.3.1 OPERATIONS WITH FOREIGN CURRENCY AND COINED METALS

"CB.3.1.2 OPERATIONS
...
The purchase of United States dollars in cash by broker-dealers in accordance with this section, as well as the receipt of such currency in cash for the payment of stock exchange intermediation operations, shall be subject to the provisions set forth in the "General Provisions referred to in Article 212 of the Securities Market Law," issued by the Ministry of Finance and Public Credit."

TRANSITORY
SINGLE. This Circular shall enter into force on October 5, 2010.