Regulatory Alerts2018-10-18 | DOF 5541448Added
Modifying Circular 9/18 of the Single Insurance and Surety Circular
The National Insurance and Sureties Commission modifies Title 2 of the Single Insurance and Surety Circular to align regulatory requirements with the Mexican Financial System, specifically regarding the acquisition of indirect shareholdings in insurance and surety institutions. It exempts persons acquiring shares indirectly through a controlling financial group from submitting specific information to the Commission if that information was already provided to the Ministry of Finance, while reducing the required number of certified copies of public instruments from three to one. Additionally, it simplifies administrative obligations for foreign representation offices and mandates the reporting of shareholder names and participation percentages via the Corporate Information Regulatory Report (RR-1).
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