Anxiety disorders are among the most common forms of psychopathology in childhood and represent a particularly concerning issue for Latinx children. Research on adults and children with anxiety suggests that the effective regulation of emotion is associated with fewer symptoms. The current study used data from 78 Latinx (predominantly Mexican American) 8- to 11-year-old children (M = 9.91; SD = 1.14; 50% girls) and one caregiver to explore regulatory processes that may characterize emerging psychopathology in Latinx families. Caregivers reported on their use of reappraisal and their child’s anxiety symptoms. Children completed a cognitive flexibility task and self-reported their anxiety symptoms. More extensive caregiver use of reappraisal was associated with fewer child anxiety symptoms (an average of caregiver- and child-report). As expected, this effect was qualified by children’s cognitive flexibility. Caregiver reappraisal was associated with anxiety symptoms only for children with greater cognitive flexibility, highlighting the importance of individual differences in cognitive skills underlying children’s mastery of sophisticated cognitive strategies. Findings suggest the importance of considering both caregiver and child regulatory processes to improve understanding of anxiety symptoms among Latinx children.