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Amendments to the General Provisions Applicable to Stock Issuers and Other Participants in the Stock Market
MEXICO CITY, MEXICO, January 23rd, 2024 – On January 9, 2024, the Resolution Amending and Adding the General Provisions Applicable to Stock Issuers and Other Participants in the Stock Market (the “Provisions”), as well as Exhibits H Bis 1 and H Bis 5 of such Provisions, was published in the Official Gazette of the Federation (Diario Oficial de la Federación). The aforementioned Resolution became effective the day after its publication.
This resolution follows the amendments to the Stock Market Law (Ley del Mercado de Valores) and the Investment Funds Law (Ley de Fondos de Inversión), approved on December 28, 2023, with the purpose of providing flexibility in the terms for the disclosure of periodic information and standardizing the information and documentation requirements applicable to issuers of trust securities and other values issued under trusts, with those currently applicable to investment project trust certificates (certificados bursátiles fiduciarios de proyectos de inversion, CERPIS) and development capital certificates (certificados de capital de desarrollo, CKD) in order to have greater transparency, and equality in the Mexican stock market.
In general terms, the amendments proposed in the reform consist of the following:
1.- Additions to the information and documentation that issuers must submit before the CNBV in order to obtain the corresponding registration in the National Stock Registry (Registro Nacional de Valores, the “RNV”), as well as the information that must be included in the brochure.
2.- Additions to the financial information of the issuing trust, including a warning regarding the deadline for its filing when it intends to allocate at least 70% of the resources of the issue to investment in collective investment vehicles not listed in any brokerage firms.
3.- Additional requirements for issuers previously registered in the RNV, regarding the form and periodicity of the delivery of financial, economic, accounting and administrative information to the CNBV, the brokerage firm in which they are listed and the public in general.
4.- Additional requirements for issuers regarding the way to report their relevant events, through the SEDI platform, to the brokerage firm where they are listed and subsequently to the CNBV, through STIV-2 platform.
The SMPS Legal team is at your disposal for any questions regarding this notice, as well as any possible strategies that your company may wish to develop or discuss.