Regulatory Alerts2022-08-19 | Circular 8/2022Added · Updated
Circular 8/2022 — Modifications to Circular 44/2020 (Resumption of Deadlines for Filing, Processing, and Resolving Reconsideration and Review Appeals)
The Bank of Mexico resumes the calculation of deadlines for filing, processing, and resolving reconsideration and review appeals against sanctions that were suspended during the COVID-19 pandemic. The document establishes specific resumption dates based on when sanction resolutions were notified, as detailed in Annex A, and mandates that deadlines for new sanctions notify after the circular's entry into force begin immediately. Entities and financial intermediaries notified of sanctions between March 23, 2020, and the circular's effective date may benefit from a 20% reduction in fines if they do not file any defense and pay the fine within fifteen business days of the applicable deadline calculation.
More like this from BANXICO
We email you every new BANXICO publication the day it's published.