Country Manuals Products –
We would like to inform you that BRP has updated its COUNTRY MANUAL PRODUCTS for the following jurisdictions:
- MEXICO
| SOURCE OF CHANGES | ANSWERS |
|---|---|
| Law / Regulation | NO |
| New Position of the Authorities | NO |
| Evolution of Expert’s interpretation | YES |
Definitions & Concepts, Regulatory Overview and Behaviour Template
Material changes
The changes/modifications are as follows:
- In alignment with the Country Manual Private Banking (CM PB) the provision of execution only services within the territory of Mexico triggers licensing requirements. It is therefore not permitted to accept/execute unsolicited client orders in Mexico (at target). Accordingly, the Country Manual Products Behaviour Template (CM P BT) provides the answer “NO” in the relevant scenarios.
- In further alignment with the CM PB, the provision of investment services onshore in Mexico (at target) trigger licensing requirements and is only permitted on an occasional basis.
- With regard to the provision of investment advice to Retail Investors without/outside the scope of an ongoing advisory agreement (spot advice), the CM P BT now answers the relevant scenarios regarding unregistered financial products with “NO” (at target/remote) (instead of “Grey zone/NO”).
For more information, please contact us: info@brpsa.com
Best regards,