On February 7, 2024, the Resolution amending the General Provisions applicable to issuers of securities and other participants in the securities market (the "Amendments to the CUE" or the "Amendments") was published in the Official Gazette of the Federation ("DOF").
The main reason for the Amendments is that the National Banking and Securities Commission ("CNBV") seeks to establish that the procedures to be carried out under the CUE be submitted electronically, in order to expedite them and make their processing more flexible.
By means of the Amendments, the CNBV has established the obligation that the procedures for: (i) application for registration and preventive registration, (ii) updating of registration, (iii) note taking, (iv) cancellation, (v) approval of public offer for acquisition or disposal of the securities, and (vi) notifications of offers abroad, as well as dissemination of information for purposes of promotion, marketing or advertising of securities and the accompanying documentation and information; must be submitted electronically through the Securities Information Transfer System ("STIV") and that, at least one day prior to the receipt of the authorization letter issued by the CNBV in each case, all the documents that were the subject of the procedure must be submitted in physical format.
It also establishes that the common representatives appointed in trust securities, debt instruments and warrants that have been authorized for registration in the National Securities Registry and that have been issued electronically, may be signed using the advanced electronic signature.
This press release is provided for informational purposes only and does not constitute legal advice applicable to any case or situation.
If you have any questions regarding this press release,
please contact Mauricio Basila, mbasila@basila.mx
(5255)5520-3063