Regulatory Alerts2019-11-25 | DOF 5579708Added
Resolution modifying general provisions applicable to popular savings and credit entities, integration organisms, community financial societies, and rural financial integration organisms under the Popular Savings and Credit Law
The resolution amends Article 265 Bis 42, fraction III of the General Provisions applicable to popular savings and credit entities, integration organisms, community financial societies, and rural financial integration organisms. The amendment prohibits these entities from entering into commercial commission contracts with private assistance institutions or pawnshop associations that belong to the same consortium or business group as the society. Previously, such intra-group transactions were exempt from specific restrictions; now they must comply with the regulations set forth in the relevant section of the provisions. This change aims to ensure regulatory oversight over related-party transactions within corporate groups.
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