Regulatory Alerts2020-01-17 | DOF 5584217Added
Resolution amending and adding General Provisions regarding Articles 115 of the Credit Institutions Law in relation to Articles 87-D and 95-Bis of the General Law of Credit Organizations and Auxiliary Activities, applicable to Multiple-Object Financial Societies
The resolution amends the General Provisions applicable to Multiple-Object Financial Societies to establish specific identification requirements for debtors in financial factoring operations who are not clients of the entity. Financial institutions must collect detailed personal and corporate data, including full names, tax registration numbers, addresses, and contact information, to integrate debtor identification files for anti-money laundering and counter-terrorist financing purposes. Entities are granted a six-month period from the effective date to update their compliance manuals and automated systems to meet these new obligations.
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