meta_id 3383251

On August 7, 2026, the Comisión Nacional Bancaria y de Valores (National Banking and Securities Commission or CNBV) published in the official gazette, a Resolution amending the General Provisions applicable to investment funds and the persons who provide services to them, originally published on November 24, 2014. The Resolution introduces a framework for investment funds that specialise in environmental, social, and governance (ESG) assets, establishes transparency and disclosure requirements for such funds, and makes technical amendments to regulatory reporting obligations. It enters into force the day following its publication, with transitional periods of up to twelve months for compliance with certain provisions and a deferred effective date of January 1, 2027 for specific reporting format changes. Key provisions include: Definition of ESG Investment Target Assets: A new definition is introduced for ESG Investment Target Assets, covering assets that are aligned with Mexico's Sustainable Taxonomy issued by the Ministry of Finance and Public Credit on March 16, 2023, aligned with any environmental, social, governance, or sustainable taxonomy issued by an authority of a country that is a member of the International Organization of Securities Commissions (IOSCO) or the European Union, hold a sustainability rating issued by a provider independent of the investment fund management company that falls within the top third of the applicable rating scale, or carry a sustainable label complying with standards established by a national or international financial authority or stock exchange. ESG specialisation framework: A new Article 6 Bis permits equity and debt investment funds that specialise in ESG Investment Target Assets to use expressions such as "sustainable", "environmental", "social", "ESG", or similar terms in any language in their corporate name, ticker symbol, advertising, or promotional materials. Funds using such designations must maintain at least 80% of their net assets invested in ESG Investment Target Assets at all times. Funds that do not meet this threshold due to price movements or assets ceasing to qualify as ESG have up to 90 calendar days to bring their portfolio back into compliance without this constituting a breach of their investment regime. ESG risk category: Environmental, social, and governance risks are formally added as a category of non-discretionary risk in the comprehensive risk management framework, defined as the potential loss or material impact on a fund arising from ESG events. Investment fund operating companies must measure, monitor, and control ESG risks as part of their comprehensive risk management obligations. Portfolio disclosure for ESG funds: Equity and debt investment funds classified as ESG under Article 6 Bis must disclose, in their monthly portfolio composition reports, the criterion or criteria with which each ESG asset complies, specifying whether the asset is aligned with Mexico's Sustainable Taxonomy or another taxonomy, the rating assigned and the name of the rating provider, or the labelling standards and the organisation that issued them. Prospectus and operational manual requirements: ESG funds must include in their investor prospectus a description of their ESG investment approach, the specific objective of the fund, ESG selection and evaluation criteria, methods for verifying that assets continue to qualify as ESG, and measures to be taken if an asset loses its ESG status. Investment fund operating companies managing ESG funds must also incorporate corresponding procedures in their operational and functioning manuals and must notify the CNBV of relevant documents within twelve months of the Resolution entering into force. Fund naming and ticker symbol requirements: Investment funds that use expressions in their name, ticker symbol, advertising, or publicity that do not relate to their area of specialisation, including ESG-related terms, have up to twelve months from the entry into force of the Resolution to comply with the requirements of Article 6 Bis and Annex 1. Regulatory reporting amendments: The name of Series R03 regulatory reports is updated to "Investments in securities, repurchase agreements and securities lending and derivative financial instruments". The capture format for report J-0311 (Investment Portfolio) is amended to include two new data fields for equity and debt investment funds: one identifying whether an asset contributes to a specialised investment fund, and one for the ESG classification of investment target assets. These reporting format changes take effect on January 1, 2027. Annex updates: Annexes 1, 2, 3, the index of Annex 8, and Annex 19 are replaced in their entirety to incorporate the updated fund categorisation framework, investor prospectus requirements, key investor information document requirements, regulatory reporting index, and operational manual standards respectively. The resolution entered into force on August 8, 2026.