Learn about the new regulatory reports that Financial Technology Institutions are required to submit

• 29 octubre, 2024
• Regulatory Alert
• Por Tenet Consultores

Xóchitl Juárez Jiménez – Accounting Consulting Leader

Tenet Consultores informs about the resolution that modifies the general provisions applicable to these institutions

The Comisión Nacional Bancaria y de Valores (CNBV) announced the modification to the General Provisions Applicable to Financial Technology Institutions, which adds, in Article 100, the Regulatory Report with the series R-24 “Operating Information” with the report G-2470 “Information related to Clients and Operations.” Said report must be submitted within ten business days of the month immediately following the period being reported by electronic transmission using the SITI.

The amendment, published in the Diario Oficial de la Federación on September 2nd, seeks the efficient use of the operating information of electronic payment fund institutions for the automated generation of analysis indicators or metrics, as well as of the standardized supervision reports and the incorporation of automated regulatory validators; adapted to the specific needs and with the flexibility required to carry out the technological supervision of Financial Technology Institutions.

Its purpose is to ensure that these institutions can operate efficiently and safely, while promoting the protection of users, thus creating confidence in the Fintech sector.

MODIFICATION

It is added, in Article 100, the Regulatory Report with the series R-24 “Operating Information” with the report G-2470 Information related to Clients and Operations, as follows:

• Customer Information
• Client account information
• Account information for the management of Clients’ resources
• Account information for the management of inner resources
• Customer account balances and movements
• Account balances and movements for Customer funds management
• Overdrafts
• Fees

This report must be submitted within 10 business days of the month immediately following the period being reported, in accordance with the provisions of Article 101, paragraph a.

The information must be sent to the Comisión Nacional Bancaria y de Valores (CNBV) by electronic transmission using the SITI. In the event that there is no information of any report, the institutions must send the information empty, functionality that is available in said system. In the case of the regulatory report corresponding to Series R24 G-2470 of Annex 19, it must adhere to the format and specifications for reporting and transfer of information that the CNBV itself indicates to the electronic payment fund institutions, in accordance with the provisions of the first paragraph of article 103 of the Provisions.

EFFECTIVE DATE

This modification will become effective the day after its publication in the Diario Oficial de la Federación, with a deadline of January 1st, 2025 to carry out the necessary actions in order to submit the regulatory report.

Check all our reports in Isssu:

In order to solve these compliance and reporting needs, it is helpful to have the assistance of a consulting firm specialized in financial, regulatory, and IT issues.

Contact Tenet Consultores for specialized advice for your financial institution at 55 2978 9198 or at contacto@tenet.com.mx.