Regulatory Alerts2019-03-21 | DOF 5554778Added
Resolution reforming, adding, and repealing various General Provisions applicable to Exchange Houses under Article 95 of the General Law of Credit Auxiliary Organizations and Activities
This resolution amends the General Provisions applicable to Exchange Houses to align with Financial Action Task Force (FATF) recommendations, specifically strengthening anti-money laundering and counter-terrorist financing frameworks. It introduces new definitions for digital services and novel models, mandates enhanced customer identification and due diligence measures based on transaction amounts, and requires the assessment of politically exposed persons and risks associated with financial technologies. The document also repeals obsolete provisions and removes the obligation to submit training reports while maintaining the requirement for internal training.