Decree Reforming and Adding Provisions to the Regulations of the Savings for Retirement Systems Law — SHCP — MX

DOF: 27/09/2024

DECREE reforming and adding various provisions of the Regulations of the Savings for Retirement Systems Law

A seal bearing the National Coat of Arms, which reads: United Mexican States.- Presidency of the Republic.

ANDRÉS MANUEL LÓPEZ OBRADOR, President of the United Mexican States, in exercise of the authority conferred upon me by Article 89, Section I, of the Political Constitution of the United Mexican States and based on Articles 31 of the Organic Law of the Federal Public Administration and 89, 90, 92, 93, 94, 99, 111 and 119 of the Savings for Retirement Systems Law, deem it appropriate to issue the following

DECREE REFORMING AND ADDING VARIOUS PROVISIONS OF THE REGULATIONS OF THE SAVINGS FOR RETIREMENT SYSTEMS LAW

SINGLE.- Articles 22; 33, sections A, section XIV, and B; 67, section XI; 108, first paragraph; 120; 128, section IV; 129; 132; 133, second paragraph; 134, first paragraph; 138 BIS; 140 BIS, section VI; 141 BIS; 153; 155, fourth paragraph, are REFORMED, and section XV is added to section A of Article 33 and the current XV is moved to become XVI; a third paragraph is added to Article 41 and the following paragraphs are moved to become fourth and fifth; paragraphs four and five are added to Article 53; section IV bis is added to Article 68; Chapter XIV BIS "Rules Applicable to the Sanctioning Procedure" with Articles 141 TER and 141 QUÁTER, as well as Article 157, of the Regulations of the Savings for Retirement Systems Law, to read as follows:

ARTICLE 22. Administrators must register daily in a stock exchange authorized under the Securities Market Law all operations they carry out with shares of Investment Societies they operate, their daily traded volume for each of said Investment Societies, and the prevailing price resulting from the valuation of these.

When the impairments foreseen in Article 44 of the Law occur, Administrators must make the necessary adjustments, no later than the next business day following the date the impairment was determined, in order to register the price of the shares of the Investment Societies they operate in a stock exchange authorized under the Securities Market Law.

ARTICLE 33.

...

I. to XIII.

...

XIV.

To be provided with information related to them and to the resolutions granted to them or their beneficiaries for the disposal of resources from the Individual Account. For this purpose, IMSS, INFONAVIT and ISSSTE must continuously provide such information to Participants in the Savings for Retirement Systems;

XV.

To receive advice and information regarding their Individual Account in accordance with the general provisions issued for this purpose by the Commission, and

XVI.

Those others established by applicable provisions.

Non-affiliated Workers have the rights referred to in sections I, III, IV, V, VI, VII, VIII, IX, X, XI, XII, XIII, XV and XVI of section A of this Article. This is without prejudice to the other rights established in these Regulations.

...

ARTICLE 41.

...

The Transfer will be inadmissible when the Worker is already retired, the continuity of their pension payment is affected, and the resources of the corresponding individual account are decreased.

...

ARTICLE 53.

...

Administrators, to carry out the location of Workers referred to in the previous paragraph, and Operating Companies, to complement the database referred to in the second paragraph of Article 52 of these Regulations, must sign legal instruments with entities, departments or individuals, so that, under applicable provisions, they can obtain location data that facilitate the registration of Individual Accounts assigned to them.

This must comply with what is provided in the General Law of Personal Data Protection Held by Obligated Subjects and the Federal Law of Personal Data Protection Held by Individuals.

ARTICLE 67.

...

I. to X.

...

XI.

Information regarding disabled accounts of Workers and Non-affiliated Workers.

Disabled accounts are understood to be those that an Administrator has ceased to operate and whose balance in all its sub-accounts remains at zero for at least a period of six consecutive bimesters, resulting from resource disposal processes, account unification or separation, account transfer, or when, since their opening, they had not received any type of contributions;

XII. and XIII.

...

ARTICLE 68.

...

I. to IV.

...

IV Bis.

Identify the individual accounts of workers and non-affiliated workers who have passed away. For this purpose, they must develop consultation mechanisms or sign legal instruments with the corresponding civil registries;

V. to XXIII.

...

ARTICLE 108. Quarterly financial statements must be published within the month following the period to which they correspond in two newspapers of largest national circulation and on the Administrator's official electronic page. Publication in newspapers of largest national circulation may be made in printed, electronic, or both versions. In the last quarter, annual financial statements must be published within ninety natural days following December 31 of the respective year. Within the same deadlines, Administrators and Investment Societies must provide the Commission and the Bank of Mexico with the other accounting information requested by the Commission.

...

ARTICLE 120. The practice of notifications, as well as the sending of digital documents under Article 114 of these Regulations, must be carried out on business days and during business hours. Business days are those on which the Commission works, and business hours are those between 09:00 and 18:00 hours.

ARTICLE 128.

...

I. to III.

...

IV.

The indication of the place or places where the inspection visit must take place. The increase in places to be visited must be notified to the visited person personally or by certified mail or electronic mail, with receipt acknowledgment;

V. to VII.

...

ARTICLE 129. Inspector or visitor personnel designated to carry out the inspection visit may be replaced or increased in number by official letter from the issuing authority. The replacement or increase of inspector or visitor personnel must be notified to the visited person, prior to the drafting of the corresponding minutes. The minutes must comply with the formalities provided in Article 131, first paragraph, section IV, and second paragraph, of these Regulations.

ARTICLE 132. Inspector and visitor personnel must perform their functions during the business hours of the visited person. The Commission may authorize days and hours when it deems necessary for the development of the inspection visit, for which it must notify the visited person personally or by certified mail or electronic mail, with receipt acknowledgment.

ARTICLE 133.

...

At the request of the interested party, the inspector or visitor may extend the deadline for the visited person to deliver the required information or documentation, which must be notified under section II of Article 111 of the Law.

ARTICLE 134. For the drafting of the detailed minutes referred to in the last paragraph of Article 131 of these Regulations, inspector or visitor personnel must conduct the diligence with the legal representative of the visited entity. If not found, they shall issue a summons to the legal representative of the visited entity to wait at a specific time on the next business day. In case of absence of the legal representative, the diligence shall be conducted with whoever is found at the address of the visited entity and the corresponding minutes shall be drafted.

...

ARTICLE 138 BIS. When conducting inspection visits, if the Commission becomes aware of facts or omissions that could constitute a breach of the legal provisions governing the Savings for Retirement Systems, it has a period of 4 months, from the date the conclusion minutes are finalized, to initiate the sanctioning procedure provided for in Article 99 of the Law.

ARTICLE 140 BIS.

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I. to V.

...

VI.

The observations letter must be notified in accordance with what is stated in section IV of this Article.

The Participant in the Savings for Retirement Systems, as well as other persons and entities subject to the inspection and supervision of the Commission, have a period of twenty business days, from the day following the one on which the notification of the observations letter takes effect, to present the documents, books, records and other information that disprove the facts or omissions recorded in said letter, and

VII.

...

ARTICLE 141 BIS. When exercising its supervision powers, if the Commission becomes aware of facts or omissions that could constitute a breach of the legal provisions governing the Savings for Retirement Systems, it has a period of 4 months, from the date the period specified in section VI of Article 140 BIS of these Regulations concludes, to initiate the sanctioning procedure under what is established in Article 99 of the Law.

CHAPTER XIV BIS

SANCTIONING PROCEDURE

ARTICLE 141 TER. The sanctioning procedure, in accordance with Article 99 of the Law, must comply with the following:

Notifications arising from the sanctioning procedure must be carried out under Article 111 of the Law;

II.

The Commission must notify the interested party of the reasons why it considers irregularities exist.

In the response writing, relevant evidence related to the facts to be proven must be offered within the period provided in the Law. Necessary elements for their processing must be attached.

Documentary evidence must be presented in original or certified copy and, if applicable, with the corresponding official translation.

When dealing with public documents, at the request of the interested party, they must be presented for comparison, prior to payment of corresponding fees;

III.

Once evidence is admitted and processed, the Commission must notify the period to file arguments, and

IV.

Upon conclusion of the arguments stage, with or without arguments, the instruction is closed, and from the next business day, the period of one hundred eighty business days begins to issue and notify the resolution that ends the sanctioning procedure referred to in Article 99 of the Law.

For the processing of the procedural actions established in this Article, supplementary application shall be given to what is provided in the Federal Fiscal Code and, for what is not provided for herein, to what is established in the Federal Code of Civil Procedures.

ARTICLE 141 QUÁTER. The Commission, to better resolve, may obtain any element related to possible irregularities, as well as order the practice of any diligence if deemed necessary, before the closing of the corresponding instruction.

ARTICLE 153. The limit on the participation of Administrators in the Savings for Retirement Systems market provided for in Article 26 of the Law must be calculated according to the methodology determined by the Commission, either through the number of individual accounts or the resources administered by the Savings for Retirement System, as appropriate. The Commission must make known said limit and the methodology with which it was calculated.

ARTICLE 155.

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I. to VI.

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The Commission, within a period of forty-five business days counted from the date of receipt of the correction program, must notify the Participant in the Savings for Retirement Systems concerned of the admissibility of the presented program, as well as the classification of the infringement that motivates it.

...

ARTICLE 157. When Individual Accounts become disabled in accordance with Article 67, section XI, of these Regulations, the fiduciary and fund administration obligation for retirement by Administrators shall be extinguished, under the terms of the laws and their constitutive instruments; however, the records and information of said accounts must be kept in the National SAR Database, under the general provisions issued by the Commission.

The Disabled Individual Accounts referred to in this Article must cease to be considered for the effects provided in Articles 26 and 76 of the Law and for any other analogous process.

When Individual Accounts reflect any type of contribution, they lose their disabled status.

In this case, they will be considered for the effects of the legal provisions invoked in the previous paragraph. The Administrator that the Worker chooses in such case must celebrate a new fund administration contract for retirement with them, under the terms established in the Law, these Regulations, and other applicable provisions.

TRANSITORY

FIRST. This Decree enters into force on the business day following its publication in the Official Gazette of the Federation, with the exception of the addition of section IV Bis to Article 68 referred to in this Decree, which will enter into force once the Commission, through general provisions, establishes the regulation regarding the process of identification of Individual Accounts of Workers and Non-affiliated Workers who have passed away.

SECOND. All administrative provisions that oppose this Decree are repealed.

Given at the residence of the Federal Executive Power, in Mexico City on September 26, 2024.-

Andrés Manuel López Obrador.- Signature.- The Secretary of Finance and Public Credit, Rogelio Eduardo Ramírez de la O.- Signature.

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