CNBV reorganizes its structure to supervise Fintech

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

Did you know that Intellectual Capital is also an intangible asset?

Did you know that Intellectual Capital is also an intangible asset?

Intellectual capital or the abilities, skills, attitudes, knowledge, and values ​​of those who make up a company have a value and are considered an intangible asset, which is why it is often called “capital or human”.

We have conceptualized intangible assets as anything that could give its owner an economic value, advantage, or benefit of any kind over competitors. Intellectual capital can undoubtedly represent an advantage for a company over its competitors.

As we have stated, the method of valuation of an intangible asset depends on the purpose that the owner has for its valuation, but it could be considered that the guiding axes of the valuation of intellectual capital as an intangible asset are:

  1. Financial approach that a collaborator may have with the organization.
  2. Customer service,
  • Ability to develop and follow implemented processes or policies,
  1. Capacity for Innovation and Development and,
  2. Orientation or human sensitivity.

This factors of the collaborators and the contribution they have to the intellectual capital of an organization are another reason to care for and encourage employees to continue within the company; the constant rotation, the lack of opportunities for growth and improvement have a direct impact on the performance of the collaborators, which reduces the value of intellectual capital.


Lic. María Galaviz.

Gloria Ponce de León & Hernández.


What are intangible assets and how can they help your company?

What are intangible assets and how can they help your company?

In business, tangible assets can be included in both non-current assets (such as machinery or buildings) and current assets (such as inventory). A tangible asset must provide reasonably estimable future economic benefits and must be the result of a previous transaction, such as a purchase. However, intangible assets are critical to achieving the bottom line.

If a company’s intangible resources are managed correctly, it can be said that it will achieve a superior competitive advantage over other companies. To be able to manage these values it is important to know them, they are characterized by:

  • They lack a physical support. In other words, they are immaterial.
  • They cannot be measured or quantified.
  • They store information and knowledge that is very useful for the success of the company.

In this sense, among the different types of intangible resources we can differentiate: market assets, which include brands, the company name, consumer loyalty, distribution channels, marketing strategies, among others; Intellectual property assets, i.e. patents, copyrights, designs and/or trade secrets; Human assets, such as religion, education and labor relations. Infrastructure assets such as the company’s corporate culture, financial relationships, business management philosophy, network systems, etc.

In short, and as can be seen, intangible resources are an essential part of any company, since thanks to them a brand value is achieved that better positions the company within its market. For this reason, investment in intangibles such as training, patents and strategies allow a greater competitive advantage capable of generating a greater number of sales.

Lic. Génesis Moyeda Salazar.

Gloria Ponce de León & Hernández

How to set up a FinTech in Mexico

How to set up a FinTech in Mexico

The term FinTech is an abbreviated conjunction of the terms “finance” and “technology” in English and refers to any business that uses technology to improve or automate financial services and processes.

FinTechs are part of the evolution of traditional business models towards a digital world. It refers to companies that, through new tools and platforms, develop financial solutions and services, which, for example, enable payments, loans, investments, financial consulting, insurance, among others, through digital means.

Some of the benefits of FinTech technology are agility and efficiency in processes.

The Law to Regulate Financial Technology Institutions (LRITF) aims to regulate the financial services provided by the ITFs, their organization, operation and functioning and the financial services subject to any special regulations that are offered or carried out by innovative means and is based in the principles of inclusion and financial innovation, promotion of competition, consumer protection and prevention of illicit operations.

To organize and operate as a Financial Technology Institution (ITF) it is necessary to obtain authorization from the National Banking and Securities Commission (CNBV), prior agreement of the Inter-institutional Committee, which is made up of public servants from the Ministry of Finance and Credit. Public (SHCP), the Bank of Mexico (Banxico) and the (CNBV).

Those interested in obtaining authorization to act as ITFs must be Corporations constituted or intending to be constituted as such, in accordance with Mexican legislation and that in their bylaws:

  1. Include in their corporate purpose the performance, on a regular or professional basis, of any of the activities provided for in the Law to Regulate Financial Technology Institutions.
  2. Expressly provide that, in carrying out their corporate purpose, they must comply with the provisions of the Law and its applicable general provisions.
  3. Establish a domicile in the national territory, and
  4. Set a minimum capital necessary to carry out their activities in accordance with the provisions of the General Provisions issued by the CNBV, which will be differentiated based on the type of activities carried out and the risks faced.

The legal entities constituted in accordance with the Mexican mercantile legislation, other than the ITFs, the Financial Entities and other subjects supervised by any Supervisory Commission (the CNBV, CONSAR, CNSF and CONDUSEF), with respect to their areas of competence) or by Bank of Mexico (Banxico), must obtain authorization so that through the figure of Novel Models they carry out any activity whose performance requires an authorization, registration or concession in accordance with the LRIFT or by another financial law.

For more information do not hesitate to contact us.

Javier Estrada

Gloria Ponce de León & Hernaández

When should the process of professionalization of the management of your company be started?

When should the process of professionalization of the management of your company be started?

Each business is different, but a pointer is when the business’ operations exceed one person, this is when the company shall have professional management. It is when the owner should be thinking about delegating some of the company’s operation and administrative processes. It is not an easy decision, more when the owner has done everything for years and has seen its dream grow in the manner it imagined. This process requires several phases, which shall be accompanied by the owner’s will to make them happen:

In the first phase, it should be found the person that will be the company’s chief executive officer. It should be a person with the necessary qualifications and experience to continue with the grown of the company, in the same manner that has been done by the owner. This person should have all the owner’s and the company’s personnel support.

In the second phase, it should be worked on the company’s new organizational chart, and from it, it will derive the company’s manuals and policies.

The third phase is carried out jointly with the second phase. In this phase should be designated the persons who will hold the positions created in the new organizational chart. In this process, it should be considered the company’s current personnel and external persons. Unfortunately, in this phase, in some cases, it is necessary to let go of some personnel that is not considered to be capable of evolving with the company.

The fourth phase concentrates on the corporate governance model, the best way to develop and establish it, this with the purpose that all the company’s bodies operate in an organized and efficient manner.

The fifth phase focuses on the flow of information that the company should have; this is all the statistics, financial and administrative data that the company’s key officers should have access to in order to operate the company.

The sixth phase focuses on working over the internal control systems and flow of information to establish operation and investments budgets and the costs, in its case.

It is worth noting that some of the phases can be carried out simultaneously, as long as the conditions within the company allow it.  

 Oscar Brieño

Gloria Ponce de León & Hernández

Analysis of the Fiscal Package Nuevo León 2022

Analysis of the Fiscal Package Nuevo León 2022

The local Congress of Nuevo Leon approved the Fiscal Package for next year, with an increase in spending that was proposed by the state administration to be allocated to the justice bodies.

Specifically, the budget amounted to 17 billion pesos, however, 451,599 million pesos were added for the Attorney General’s Office and the State Judiciary, as well as extra resources for Full-Time Schools, Red Cross and Firefighters of Nuevo Leon, who had denounced in the past months lack of resources to maintain the operation and had to close some of the stations that provided service to some municipalities.

Regarding the Revenue Law, an amount of 118 thousand 194 million pesos was approved, an increase of 10 percent compared to 2021. It is worth mentioning the creation of a “green tax” for polluting companies, which is expected to raise 400 million pesos.

In addition, 4.2 billion pesos in long-term and 2.27 billion pesos in short-term financing were considered. As well as a long-term debt restructuring.

In this sense, one of the important points to consider has been the generation of jobs through investment and infrastructure, in which more than 7,500 direct jobs and up to 15,000 indirect jobs are proposed due to the multiplier effect of the investment in infrastructure.

A significant adjustment to spending of $4,208 million pesos is being made through the following actions:

A reduction in payroll costs of 3.3 percent is considered, representing a savings of $696 million pesos.

– A downward adjustment of 411 million pesos is proposed in the expenditure of parastatal agencies.

– A redirection of 400 million pesos of resources that were destined to COVID-19, which are no longer necessary, is contemplated.

– A decrease of extraordinary support to the Instituto de Seguridad y Servicios Sociales de los Trabajadores del Estado de Nuevo León (ISSSTELEON) for 500 million pesos is foreseen. This will be possible based on the benefits of the new ISSSTELEON health care scheme.

– A 30 percent decrease in the purchase of materials and supplies is reflected, which represents a savings of 316 million pesos.

– There is a 40 percent decrease in social communication expenses, which will allow for the availability of 109 million pesos.

– A 20 percent cut in general services is granted, saving the State 803 million pesos.

– A cut of 400 million pesos is estimated for the Educational Integration Unit.

Likewise, the legislators approved the Fiscal Code 2022, which is homologated with the Federal one. This will create the Tax Mailbox, to streamline processes and there will be actions against companies known as “billers”.

The law also contemplates the creation of a State Taxpayers Registry, which will help in the fight against the sale of illegal invoices and phantom suppliers. Finally, the increase in property taxes in the municipalities of San Pedro Garza García and Monterrey was approved; in the case of the former, the cadastral value will increase by 25 percent and in the capital city by 19 percent.

Lic. Génesis Moyeda Salazar.

Gloria Ponce de León & Hernández