Regulatory Alerts2022-04-04 | Circular 5/2022Added · Updated
Circular 5/2022 — Modifies Circular 12/2020
The Bank of Mexico extends the suspension of ordinary inspection visits until April 5, 2022, and suspends the initiation of administrative sanctioning procedures for specific cash operations infractions committed between March 19, 2020, and April 5, 2022. Credit institutions must deliver retained suspected counterfeit pieces to the Bank within 20 banking days and register SAM claim verification results within 5 banking days following the circular's effective date. Non-compliance with these transitional deadlines subjects institutions to sanctions under the Credit Institutions Law and the Bank of Mexico Law.
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