Amendment to the General Provisions on Financial Matters of the Retirement Savings Systems

On July 21, 2025, the Mexican government published a decree amending the General Provisions on Financial Matters applicable to the Retirement Savings System ("CUF"). The decree introduces significant changes affecting the operations of retirement fund administrators ("Afores") and the investment companies they manage ("Siefores"), including new rules for investment in simplified issuances, expanded powers for investment committees regarding structured instruments, enhanced risk management standards, improved corporate governance and transparency measures, and specific provisions for asset restructurings and indemnity clauses in third-party contracts. The reform also introduces a new methodology for identifying structured instruments with predominant investment in Mexican territory, aiming to incentivize domestic investment and strengthen regulatory oversight.

Regina Bohon Robles (White & Case, Associate, Mexico City) contributed to the development of this publication.

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