Regulatory Alerts2021-11-04 | DOF 5634493Added · Updated
Resolution modifying the General Provisions Applicable to Brokerage Houses
The National Banking and Securities Commission amends the General Provisions Applicable to Brokerage Houses to introduce a 'participation in closing price' order type, exempting such orders from the best execution duty when executed for institutional investors. The resolution mandates that brokerage houses implement methodologies for transmitting passive orders to stock exchanges and utilize automated systems to ensure best execution based on price, volume, and non-biased selection criteria. Brokerage houses have two months from publication to modify their manuals and systems and submit them for approval, with the resolution entering into force four months after its publication in the Official Gazette.
More like this from SHCP
SHCP published 14 documents in the last 30 days. We email you each new one the day it's published.