MEXICO

On September 10, the Secretary of Finance and Public Credit (SHCP in Spanish) issued, through the Official Gazette of the Federation (DOF in Spanish), a resolution that amends the General Provisions that regulate the self-correction programs. The resolution will enter into force on September 11. Likewise, the SHCP, through the National Commission for Regulatory Improvement (CONAMER in Spanish), opened a public consultation on a call for certification on anti-money laundering operations in 2022. The draft will be open for consultation until at least October 10, and interested parties may send their opinions through the following link.

The resolution reforms Article 10 of the provisions on self-correction programs. These programs enable financial entities to correct non-compliance with financial regulations, as long as they submit to the National Banking and Securities Commission (CNBV in Spanish) the details of how to rectify such non-compliance and how to prevent it in the future.

On the other hand, the draft bill under consultation indicates that the participants of the call must submit to the CNBV, the corresponding documents and information described in the provisions for the certification of professionals in the prevention of transactions with resources of illicit origin. Also, it mentions that the deadline for submitting the application to obtain the Certificate in this matter is from April 4 to May 13, 2022.