Regulatory Alerts2016-01-07 | DOF 5422277Added · Updated
Resolution modifying the General Provisions applicable to Savings and Loan Cooperative Societies
The National Banking and Securities Commission modifies Article 307 and replaces Annex N of the General Provisions applicable to Savings and Loan Cooperative Societies to align regulatory reporting with the new Financial Reporting Standard D-3 (NIF-D3) on Employee Benefits. The updated Annex N establishes the specific regulatory reports, series, and submission frequencies required from cooperative societies with operation levels I through IV. Modifications to the R01 series reports become effective on January 1, 2016, with submissions required starting in February 2016, while the resolution generally enters into force the day after its publication in the Official Gazette.
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