Regulatory Alerts2016-02-02 | DOF 5424068Added
Resolution modifying the General Provisions applicable to Popular Savings and Credit Entities, Integration Organizations, Community Financial Societies, and Rural Financial Integration Organizations under the Popular Savings and Credit Law
The National Banking and Securities Commission (CNBV) amends the General Provisions to impose new data breach reporting obligations on Popular Financial Societies. Specifically, it adds Articles 58 Bis through 190 Bis, requiring these entities to notify the CNBV within five natural days and affected clients within three business days of any loss, theft, or unauthorized access to sensitive client information, while mandating an immediate investigation. The resolution also substitutes Annex G to update the credit portfolio qualification format and Annex S to standardize the report for sensitive information loss events, and repeals Article 265 Bis 23. These changes entered into force the day after publication on February 2, 2016.
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