Regulatory Alerts2020-10-23 | Circular 40/2020Added · Updated
Circular 40/2020 — Modification of Circular 8/2020
The Bank of Mexico terminates provisional exemptions and measures related to the COVID-19 pandemic established in Circulares 8/2020 and 12/2020, reinstating the calculation of deadlines for administrative sanction procedures and information requirements for supervised entities. The resolution sets specific end dates for the suspension of time limits regarding the delivery of suspected counterfeit currency pieces and SAM verification results, ranging from October 31, 2020, to February 28, 2021, depending on the month of the infraction. It also extends the deadline for credit institutions to provide information on securities transfer companies to December 1, 2020, and restores standard Monday-to-Friday operating days for cash correspondents. Additionally, the suspension of ordinary inspection visits is lifted, with individual notifications to be issued regarding the resumption of supervision procedures.
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