Regulatory Alerts2019-07-22 | DOF 5566218Added
Resolution reforming, adding and repealing various general provisions under Article 91 of the Investment Funds Law
The resolution amends the general provisions of the Investment Funds Law to align with Financial Action Task Force (FATF) recommendations, specifically prohibiting investment fund operating companies and distributors from applying simplified identification measures when money laundering or terrorist financing is suspected. It mandates the identification of politically exposed persons, requires risk assessments for financial services provided via new technologies, and legally recognizes the use of electronic means for customer due diligence and record-keeping. Additionally, it removes the obligation to submit training reports while maintaining the requirement for such training.