GP&H Suite


GP&H Suite

28 Apr

CNBV reorganizes its structure to supervise Fintech


The new regulations of the National Banking and Securities Commission (CNBV for its  acronym in Spanish) were published in the Official Journal of the Federation (DOF for its  acronym in Spanish), with which its structure is reorganized to fully integrate the sector of financial technology institutions into its supervision and, in addition, be more punctual in monitoring certain segments of the financial system, for example, the Inter-institutional Committee, provided for in the law to Regulate Financial Technology Institutions, or fintech law, is now recognized as part of this body, and which is fundamental for the authorizations of entities that seek to operate under this regulation.

However, the CNBV as a decentralized administrative body of the Ministry of Finance and Public Credit (SHCP for its acronym in Spanish), with technical autonomy and executive powers, will exercise the powers granted to it by its own Law, the laws relating to Mexican financial system, as well as the other applicable legal systems. In addition, it is detailed that within the administrative bodies that make up said commission, the Inter-institutional Committee is integrated and that it is added to the presidency, vice-presidency, governing board and general directorates of the same.

With the new regulation that will govern the function of the CNBV from now on, there will also be more administrations within this authority. According to the document, there will now be 45 administrations of the agency, when in the previous regulation there were 39. Among the new addresses of the agency are:

  • Supervision of Popular Financing Companies B,
  • The Supervision of Savings and Loan Cooperatives B, the Prevention of Operations with Resources of Illicit Origin C as well as;
  • Supervision of Financial Technology Institutions.

Giselle Villanueva

Gloria Ponce de León & Hernández

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