Jan/31/2024
AMENDMENTS, ADDITIONS AND REPEALS TO THE VARIOUS FINANCIAL LAWS OF ADMINISTRATIVE PROCEDURES
On January 24, a decree was published in the Official Gazette of the Federation amending, adding and repealing several financial laws regarding administrative procedures, with emphasis on the following:
a) The amendments to the Law for the Transparency and Regulation of Financial Services and to the Law for the Protection and Defense of Financial Services Users are focused on notifications, electronic signatures and administrative sanctioning procedures.
b) Amendments and additions to the Law of Credit Institutions, the Securities Market Law, the Law to Regulate Financial Groupings, the Law to Regulate Credit Information Companies, the Law of Investment Funds, the Law of Credit Unions, the Law to Regulate the Activities of Savings and Loan Cooperative Societies, the Law of Credit Unions, the Fintech Law, the Law of Insurance and Bonding Institutions, and the Law of Retirement Savings Systems, the Law on Credit Unions, the Fintech Law, the Law on Insurance and Bonding Institutions, and the Law on Retirement Savings Systems, are aimed at improving administrative procedures, revocation of authorizations, concessions and administrative sanctions, and related supervisory procedures.
c) The amendments to the General Law of Credit Organizations and Auxiliary Activities, Law of Savings and Popular Credit are developed in the Hearing Rights, procedures for cancellation of authorizations and administrative sanctions.
At VILA we are specialists in providing advice to clarify any concerns about the effects that this reform will have on financial matters.
Feel free to contact us for further information or assistance.
For more details, please contact:
Mtra. Thaís Béjar
Lic. Diana Oropeza
