Regulatory Alerts2003-12-04 | Circular 6/2003Added
Circular 6/2003 — Amending Circular 115/2002
The Bank of Mexico amends section CB.3.1.4 of Circular 115/2002 to allow brokerage houses to document spot foreign exchange transactions with national and foreign financial entities and other clients using master contracts or modifying agreements to existing brokerage contracts. Brokerage houses are required to issue same-day documentary confirmations for all transactions and provide receipts to non-financial clients either at the counter or upon request. Additionally, brokerage houses must record all spot foreign exchange transactions in their accounting books on the same day the transactions are executed.
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