Regulatory Alerts2017-07-24 | DOF 5491641Added
Resolution modifying the General Provisions applicable to Brokerage Houses
The resolution amends Accounting Criterion B-2 regarding investments in securities, specifically extending the timeframe during which held-to-maturity titles can be sold or reclassified without losing that classification status. It clarifies the requirements for isolated events outside the entity's control that justify such sales or reclassifications, aligning domestic rules with International Financial Reporting Standards. Brokerage houses must apply these changes prospectively from the day following publication, maintaining prior classifications under previous criteria while disclosing significant accounting changes in financial statement notes.
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