Trust rules would tighten risk controls and fiduciary duties
The Bank of Mexico (Banxico) is seeking feedback on proposed trust rules that would differentiate requirements by the scale and risk of fiduciary activity. Public comments close on December 15, 2026.
Risk determines the requirements
Banxico proposes a differentiated regulatory framework reflecting the importance and risk level of fiduciary activity.
It would strengthen internal controls, risk management and operational capacity for managing trust assets, while reinforcing duties to administer and protect those assets.
The draft also covers the appointment and monitoring of administrators and master administrators, transparency measures and clearer boundaries for fiduciary responsibility.
It applies to trust operations conducted by credit institutions, brokerage firms, insurance companies, surety institutions, investment fund management companies and multipurpose financial companies.
One portal for public comments
Banxico cites the expansion and growing complexity of trust operations as reasons to update the rules it is responsible for issuing.
Its stated aims are to promote sound financial-system development and protect the public's interests and trust assets.
The draft and consultation plan are available on its regulatory consultation portal.
Comments from the general public must be submitted exclusively through that portal by 6:00 p.m.
Mexico City time (GMT-6) on December 15, 2026.
Scope is not implementation
The proposal links fiduciary safeguards to the scale and risk of trust activity.
Its scope extends beyond asset administration to oversight of administrators and the boundaries of fiduciary responsibility.
The notice opens consultation rather than imposing final rules.