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Banking Sector New Regulations Mexico

Hogan Lovells

UPDATE #2: Effective date of FinCEN’s Section 2313a orders against three Mexican financial institutions delayed until September 4

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U.S. financial institutions that conduct funds transfers with the designated Mexican institutions have until 4 September to implement compliance procedures. Transfers of funds involving these designated Mexican institutions...more

Hogan Lovells

UPDATE: Effective date regarding FinCEN’s new Section 2313a Orders against three Mexican financial institutions

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U.S. based financial institutions that conduct funds transfers with the designated Mexican institutions have until 21 July to implement compliance procedures. Transfers of funds involving these designated Mexican...more

Hogan Lovells

FinCEN invokes new Section 2313a authority against three Mexican financial institutions: The who, what, when, where, why, and...

Hogan Lovells on

The orders represent the first use of new authorities by FinCEN. U.S. based financial institutions that conduct funds transfers with the designated Mexican institutions will be subject to significant compliance obligations,...more

Hogan Lovells

Financial entities must update their financial credentials and institutional keys before the CONDUSEF

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On October 14, 2022, the CONDUSEF issued new general provisions applicable to all financial institutions in order to standardize reporting obligations, reduce deadlines, and increase the obligations of financial institutions....more

Hogan Lovells

SPEI 2.0 – New Regulation for Indirect Participants

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New rules the Mexican electronic-transfer system known as SPEI were published on March 23, 2022 affecting fintech companies and smaller players that indirectly connect to this system through other bigger financial...more

White & Case LLP

Mexico: New defense procedure against inclusion in Blocked Persons List

White & Case LLP on

On March 11, 2022, a reform to the Mexican Banking Law (Ley de Instituciones de Crédito) was published in the Federal Official Gazette (Diario Oficial de la Federación) in order to provide a new procedure for the defense of...more

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