Regulatory Alerts2020-12-10 | DOF 5607226Added · Updated
Resolution modifying the General Provisions applicable to securities issuers and other participants in the securities market
The CNBV amends the General Provisions to relax regulatory constraints on real estate investment trust certificate issuers by removing the maximum debt limit and allowing the general assembly of holders to set debt limits and debt service coverage ratios. The resolution updates the debt service coverage ratio formula, mandates that total assets cannot exceed five times the book value of issued certificates, and requires a minimum coverage index of 1.0. It also establishes strict reporting obligations, corrective plan requirements within 20 days for limit breaches, and specific governance rules for technical committees and capital call mechanisms.
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