On July 13, the Secretary of Finance and Public Credit (SHCP in Spanish) opened, through the National Commission for Regulatory Improvement (CONAMER in Spanish), a public consultation that makes modifications to the general provisions on financial matters of the Retirement Savings Systems. The text proposes changes in various provisions on the financial risks of investment companies. The consultation will be open until at least August 10 and interested parties may submit their opinions via the following link.
Among the amendments proposed in the text, the following stand out:
- Those officers or persons who perform financial tasks on a regular basis for investment companies or are linked to investment operations and financial risk management must have the certification proposed in Annex J of the provisions.
- The Financial Risk Committee shall have the power to approve those policies on Operational Risk management that Investment Companies shall apply.
- Annex P proposes a model prospectus of information on investment companies in which the general data of the same must be clarified, the operations policies with respect to the type of resources that can be invested in them, the commission regime with an explanation of the form of calculation and percentage to be applied, among others.