Regulatory Alerts2016-05-13 | DOF 5437137Added
Resolution modifying the General Provisions applicable to general warehouse companies, exchange houses, credit unions and multiple-object financial companies regulated
The National Banking and Securities Commission amends Articles 6 and 93 and substitutes Annex 4 of the General Provisions applicable to credit unions to update accounting criteria. Credit unions must comply with these changes starting January 1, 2017, though they may voluntarily apply the B-5 "Credit Portfolio" criterion from July 1, 2016, provided they notify the Commission by June 30, 2016. Early adopters are required to disclose specific information regarding the nature of the accounting change and its financial effects in their financial statement notes.
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