Mexico City, November 11th, 2019.
On October 30th2019, the CNBV and SHCP published through the Official Gazette of the Federation (Official Journal of the Federation) ("DOF") the Resolution modifying the Resolution modifying the general provisions applicable to brokerage firms, published on December 12, 2018.
Likewise, it is important to emphasize that it was considered to take into account the importance that the institutions for the deposit of securities, have the opportune information regarding the operations with representative securities of debt that the brokerage houses enter into, being necessary to extend the term so that said financial entities may modify their technological systems that will allow them to report the operations to said institutions for the deposit of securities.
In this tenor, the SOLE TRANSITORY Article is amended, which establishes the following:
"SINGLE. The brokerage houses, in order to comply with the second paragraph of article 30 that is amended with this Resolution, must observe the following deadlines:
- From the date of entry into force of this instrument and until January 31, 2020, they must communicate to the institutions for the deposit of securities the information that said provision indicates no later than the same day on which the operation was held.
- From February 1, 2020 until July 31, 2020, the said communication must be carried out within sixty minutes after the operation has been held.
III. As of August 1, 2020, they must communicate the corresponding information within the thirty-minute period indicated in the aforementioned normative precept.."
Lawyers from the banking and financial practice of our Firm will be delighted to provide you with further information regarding the content of this informative note.
Sincerely,
Miguel Angel Peralta
peralta@basham.com.mx
Pedro Said
psaid@basham.com.mx
Patrick Seaver Stockdale
pstockdale@basham.com.mx
