Regulatory Alerts2020-05-15 | DOF 5593408Added
Modifications and Additions to the General Provisions on Operations of the Retirement Savings Systems
The National Retirement Savings System Commission modifies, adds, and repeals articles in the General Provisions governing Retirement Savings System (SAR) operations to promote efficiency, automation, and the use of electronic means. Key changes include defining new terms such as FinTech companies and electronic mail, mandating electronic storage of registration and transfer requests, and allowing the use of electronic models with double authentication to replace account statement folios during transfers. The amendments also impose annual vulnerability assessments and cybersecurity audits on operating companies, require proactive contact with workers aged 60 and older regarding pension options, and update identity verification and data modification procedures.
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