Regulatory Alerts2020-11-23 | DOF 5605512Added · Updated
Modifications and Additions to the General Provisions on Operations of the Retirement Savings Systems
The National Retirement Savings System Commission amends the General Provisions to establish a 'Mobile Transfer' mechanism allowing workers to transfer their Individual Accounts between Administrators via a Mobile Application without third-party intervention. The regulation mandates that mobile transfer requests include specific information on commissions, net returns, and service/investment performance indicators to ensure informed decision-making. It also introduces remote resource disposal capabilities requiring Category 3 or higher authentication factors, updates verification and supervision protocols for Administrators, and removes certain physical documentation requirements such as beneficiary designation and video manifestos for mobile transfers.