CNBV implements new requirements for specialized and ESG investment funds

The Mexican National Banking and Securities Commission (CNBV) has issued a resolution amending the General Provisions Applicable to Investment Funds and Their Service Providers. The new regulations introduce stricter requirements for the classification, naming, and disclosure of equity and debt investment funds, with a specific focus on specialized funds and those marketed under environmental, social, and governance (ESG) objectives.

The amendments aim to combat greenwashing by ensuring that financial products do not use sustainability labels that are inconsistent with their actual portfolio composition. Under the new rules, funds that use specific asset descriptors in their names, ticker symbols, or marketing materials must maintain at least 80% of their net assets invested in those specific assets. This applies to funds specializing in government securities, private-sector assets, sector-specific assets, regional assets, or ESG assets.