Overview

• On July 24 the CNBV amended its general provisions and added Article 15 Bis to allow fintechs in corporate restructurings or financial remediations to adopt temporary special accounting criteria
• As of July 25 banks and institutions affected by earthquakes, hurricanes or floods can request authorization to modify their records under the new framework
• Investment funds and related companies will gain access to similar special accounting rules from July 26 after demonstrating disaster impact or restructuring causes
• Eligible entities must include in their request a description of the special entries sought, current financial indicators, risk assessments and a board-approved action plan along with public disclosures
• Institutions with prior regulatory breaches or already using other special accounting records are barred from this regime to prevent misuse