Regulatory Alerts2020-09-30 | Circular 37/2020Added · Updated
Circular 37/2020 — Modifying Circular 4/2019
The Bank of Mexico amends Section II of Article 11 of Circular 4/2019 to clarify that the Board of Directors' authorization for contracting third parties must refer to the institution's own governing body rather than that of the third party. This modification applies to Credit Institutions and Financial Technology Institutions conducting operations with virtual assets. The circular enters into force on the next banking business day following its publication in the Official Gazette.
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