Agreement establishing administrative measures for the continuity of activities of the National Banking and Securities Commission during the COVID-19 health contingency

DOF: 15/07/2020

AGREEMENT establishing the administrative measures for the continuity of the activities of the National Banking and Securities Commission in the attention of matters being processed before it, during the health contingency caused by

A seal with the National Coat of Arms, which says: United Mexican States.- TREASURY.- Ministry of

Treasury and Public Credit.- National Banking and Securities Commission.

The President of the National Banking and Securities Commission, based on the provisions of

articles 1st, third paragraph; 4th, fourth paragraph and 73, fraction XVI, Bases 1st to 3rd of the Political Constitution of

the United Mexican States; 2, 3, 4, 6, 6 Bis, 14 and 16 of the Law of the National Banking and Securities

Commission; 9 and 11 of the Internal Regulations of the National Banking and Securities Commission, as well as in the

" Agreement establishing temporary and extraordinary measures and suspending some deadlines

for the attention of financial entities and persons subject to supervision of the National Banking

and Securities Commission, due to the coronavirus named COVID-19 ", published on March 26, 2020 in

the Official Gazette of the Federation and the numeral SECOND of the AGREEMENT by which the term of

the period in which deadlines are suspended with respect to hearings, procedures and proceedings that are in

course, are carried out or must be carried out before the National Banking and Securities Commission, as well as the effects

of the other provisions contained in the Agreement establishing temporary and

extraordinary measures and suspending some deadlines for the attention of financial entities and persons

subject to supervision of the National Banking and Securities Commission, due to the coronavirus named

COVID-19, published on March 26, 2020 , published in the Official Gazette of the Federation on April 17 of

2020; and

CONSIDERING

That on March 26, 2020, the

Agreement establishing temporary and extraordinary measures and suspending some deadlines

for the attention of financial entities and persons subject to supervision of the National Banking

and Securities Commission, due to the coronavirus named COVID-19 (CNBV Agreement), was published in the evening edition of the Official Gazette of the Federation, through which, among other things, deadlines are suspended with respect to hearings, procedures and proceedings that are in course, are carried out or must be carried out before the Commission from March 23 to April 19, 2020, empowering the President of said Commission to modify or temporarily leave without effect those legal provisions issued for Financial Entities and persons subject to supervision of the Commission, that are necessary to provide the administrative facilities required, without prejudice to the participation that, in case, corresponds to the other financial authorities;

That through agreements published in the Official Gazette of the Federation on April 17 and 28, May 29 and June 29, 2020, the term of suspension of deadlines referred to in the previous consideration was extended to April 30, to May 30, to June 30 and to July 15, 2020, respectively, maintaining its effects the other provisions provided in the CNBV Agreement. Additionally, in the publication of April 17 of 2020, the Board of Directors of the National Banking and Securities Commission extended for the time that is necessary to face the health contingency and its effects or until such time as said Board of Directors determines, the powers of the President of the National Banking and Securities Commission provided in the CNBV Agreement, as well as to extend the term of the period in which deadlines are suspended by the time that is necessary to face the health contingency and its effects;

That on May 14, 2020, the Ministry of Health published in the Official Gazette of the Federation the Agreement by which a strategy is established for the reopening of social, educational and economic activities, as well as a regional traffic light system to evaluate weekly the epidemiological risk related to the reopening of activities in each federal entity, as well as extraordinary actions are established, modified through a similar published in the same means of dissemination on May 15, 2020, which aims to establish a strategy for the reopening of activities social, educational and economic, as well as a regional traffic light system to evaluate weekly the epidemiological risk related to the reopening of activities in each federal entity; to the effect that the return of society to its general activities takes place in an environment reliable that reduces, to the greatest extent possible, the risks caused by the COVID-19 epidemic, and of this way the abatement of the same continues, to give way to the prompt economic recovery;

That in Mexico City, where the headquarters of the Commission is located, it was announced on May 20 of 2020, by the Head of Government the Gradual Plan towards the new normality in Mexico City , which establishes the implementation of a staggered return that prioritizes the right to health to contain the coronavirus pandemic COVID-19 and avoid new outbreaks of infection, with the purpose of generating a healthy life and coexistence based on a Daily Epidemiological Traffic Light with four colors: red, orange, yellow and green, for the staggered reopening of various work activities, Government, education, public spaces and transportation, situation of vulnerable persons, epidemiological follow-up and monitoring of COVID-19;

That, in addition to what is stated in the previous consideration, the Government of Mexico City has declared that the city is in an orange traffic light;

That it is necessary to flexibilize the way in which financial entities and persons subject to supervision of the Commission present the information for the processing of procedures, requests and compliance with obligations, in attention to what is established in the General Provisions applicable to entities and persons referred to in articles 3, fractions IV, V, VI, VII and VIII and 4, fraction XXX, of the Law of the National Banking and Securities Commission, as well as to the general public, in the delivery and receipt of documents at the National Banking and Securities Commission , and

That, to the effect that the Commission is consistent with the measures established by the health authorities of the country and the Head of Government of Mexico City where the headquarters of this departmental body is located, to mitigate the spread of the COVID-19 virus and with the purpose of avoiding the physical concentration, transit or displacement of people in the facilities of the National Banking and Securities Commission, until such time as the health authority determines that there is no epidemiological risk related to the opening, in a gradual, cautious and orderly manner, of activities related to the Federal Public Administration and a green traffic light is established in Mexico City, it is necessary to establish temporary and extraordinary measures to give continuity to the procedures and matters competence of this financial authority, has resolved to issue the following:

AGREEMENT BY WHICH

ADMINISTRATIVE MEASURES ARE ESTABLISHED FOR THE CONTINUITY OF THE ACTIVITIES OF THE NATIONAL BANKING AND SECURITIES COMMISSION IN THE ATTENTION OF THE MATTERS BEING PROCESSED BEFORE THIS, DURING THE HEALTH CONTINGENCY CAUSED BY COVID-19

FIRST. Starting July 16, 2020, the computation of deadlines resumes, both those provided for by periods or natural days as well as those provided for in business days indicated in the applicable regulations, with respect to procedures and proceedings initiated before the National Banking and Securities Commission, that are in progress, also considering the obligations that must be communicated or resolved before the Ministry of Finance and Public Credit, through this Commission, in matters of prevention of operations with resources of illicit origin, except for the exceptions contained in this Agreement and those indicated below:

I.

Starting August 3, 2020, the computation of deadlines resumes, both those provided for by periods or natural days as well as those provided for in business days, with respect to the following matters:

1)

Systems and manuals for the receipt and assignment of operations with securities (RINOS) of banks and brokerage houses, referred to in articles 53 and 81 of the Law of Credit Institutions; 257 and 259 of the General Provisions applicable to credit institutions; 180 of the Securities Market Law; as well as 57 and 59 of the General Provisions applicable to brokerage houses.

2)

Note taking on methodologies and tariffs presented for authorization by the derivatives chamber referred to in the First and Seventeenth of the Rules to which participants in the derivatives contracts market must be subject.

3)

Authorization of modification to documentation delivered to organize as self-regulatory bodies, referred to in article 5, last paragraph of the General Provisions applicable to self-regulatory bodies.

4)

BIA and BCP Bolsa de derivados opinion, referred to in the Thirteenth and Nineteenth of the Prudential Provisions to which participants in the derivatives contracts market will be subject.

II.

Starting August 17, 2020, the computation of deadlines resumes, both those provided for by periods or natural days as well as those provided for in business days, with respect to the following matters:

1)

All procedures and proceedings under the Popular Savings and Credit Law, the General Law of Auxiliary Credit Organizations and Activities, the Credit Union Law, the Law to Regulate the Activities of Savings and Loan Cooperative Societies and the Securities Market Law for the case of the Register of investment advisors, as well as the general provisions emanating from said laws, that have been entered into the National Banking and Securities Commission after March 29 of 2020 and those that are entered in the period between July 16 and August 17 of 2020.

The foregoing, except for procedures and proceedings corresponding to multiple-purpose financial societies referred to in the General Law of Auxiliary Credit and Activities which will resume in accordance with the first paragraph of FIRST of this Agreement starting July 16, 2020.

2)

All procedures and proceedings related to requests for authorization to organize and operate as Financial Technology Institutions, under the Law to Regulate Financial Technology Institutions and the General Provisions that emanate from said law, including those entered prior to March 29, 2020 through the single window for receipt and delivery of documentation of the official records office of the National Banking and Securities Commission, due to the suspension of activities referred to in the consideration of this Agreement.

3)

Requests for information and documentation, as well as orders for seizure or unblocking of accounts, transfers or fund status issued by competent judicial, federal treasury and administrative authorities, relating to operations carried out by clients and users of financial services with the entities, subject to the applicable legal provisions in matters of financial secrecy.

4)

Provision of services by banks, brokerage houses and multiple-purpose financial societies that maintain links with credit institutions, in relation to articles 46 of the Credit Institutions Law; 326 and 328 of the General Provisions applicable to credit institutions; 219 of the Securities Market Law; as well as 206 Bis and 206 Bis 2 of the General Provisions applicable to brokerage houses, and 87-D of the General Law of Auxiliary Credit and Activities and 72, fraction XIII of the General Provisions applicable to general deposit warehouses, exchange houses, credit unions and regulated multiple-purpose financial societies.

5)

Commercial commissions referred to in articles 319, 320 and 321 of the General Provisions applicable to credit institutions and 72, fraction XIII of the General Provisions applicable to general deposit warehouses, exchange houses, credit unions and regulated multiple-purpose financial societies.

6)

Self-correction programs referred to in articles 109 Bis 9 and 109 Bis 10 of the Law of Credit Institutions; 86 Bis 3 of the Investment Funds Law and 395 Bis of the Law of Securities Market.

7)

Resolution of this Commission regarding plans for excess financing limit referred to in articles 54 and 61 of the General Provisions applicable to credit institutions. This is understood that entities must give notice and deliver the corresponding information in accordance with applicable regulations.

8)

Modifications to documents presented for authorization or approval of securities rating agencies, price providers and societies that administer systems to facilitate operations with securities referred to in articles 254, 324 and 335 of the Securities Market Law.

9)

Modifications to documents presented for authorization or approval of societies that administer systems to facilitate operations with securities relative to: internal regulations, bylaws, partners, directors and executives; general operation plan, code of conduct and means to disseminate quotes, referred to in article 254 of the Law of the Securities Market.

10)

Contingency plans for those entities that are not considered of systemic importance in relation to articles 172 Bis 37 and 172 Bis 38 of the General Provisions applicable to credit institutions.

11)

Internal methodologies referred to in articles 2 Bis 66 and 2 Bis 113 of the General Provisions applicable to credit institutions.

12)

Modifications to documents presented for authorization or approval of securities rating agencies relative to: modifications to rating methodologies, code of conduct, general operation plans, internal manuals, change of executives and directors in relation to article 335 of the Securities Market Law.

III.

Starting from when the agreement is published that specifically indicates the resumption of the computation of deadlines, both those provided for by periods or natural days as well as those provided for in business days, with respect to the following matters:

1)

Renewals of registration in the Register of Currency Centers and Money Transmitters referred to in the General Law of Auxiliary Credit and Activities, in digital form, on business days and hours, in accordance with the procedure established in paragraphs third to seventh of numeral SECOND of this Agreement.

2)

Start of operations of new entities.

3)

Update of authorization to act as a stock operator or attorney-in-fact in relation to article 6 of the General Provisions applicable to securities operators and attorneys-in-fact of market intermediaries for the celebration of operations with the public.

SECOND. The information that must be presented to this National Banking and Securities Commission in terms of the laws relating to the financial system and the general provisions issued by the Commission itself, for the processing of requests, procedures and proceedings competence of this departmental body or the compliance with the obligations on the entities and persons subject to supervision of the Commission, whose presentation is not established to be carried out through the Interinstitutional Information Transfer System, the Information Transfer System on Securities, the Information Transfer System on Securities-2 or other electronic means, must be presented digitally from Monday to Friday in a schedule of 9:00 to 15:00 hours, in accordance with its nature and characteristics, to the following email addresses:

Vicepresidency of Stock Supervision:
VPSupervisionB@cnbv.gob.mx

Vicepresidency of Supervision of Development Banking and Popular Finance:
VPSupervisionBDFP@cnbv.gob.mx

Vicepresidency of Supervision of Groups and Financial Intermediaries A:
VPSupervisionGIFA@cnbv.gob.mx

Vicepresidency of Supervision of Groups and Financial Intermediaries B:
VPSupervisionGIFB@cnbv.gob.mx

Vicepresidency of Supervision of Preventive Processes:
General Directorates of Prevention of Operations with Resources of Illicit Origin A and B prevencion.lavado@cnbv.gob.mx

General Directorate of Attention to Authorities comunicacionAA@cnbv.gob.mx

Technical Vicepresidency:
VPTecnica@cnbv.gob.mx

Vicepresidency of Normativity

General Directorate of Specialized Authorizations autorizacionfintech@cnbv.gob.mx

autespecializadas@cnbv.gob.mx

To receive notifications related to judicial processes whose processing is urgent and in which the Commission is a party, they must be made through the following email address:
contencioso@cnbv.gob.mx

For the above reason, the single window for receipt and delivery of documentation of the official records office of the Commission will remain closed, so no documentation will be received physically during the validity of this Agreement.

The National Banking and Securities Commission may enable additional email addresses for the receipt of information, which it will make known through its official Internet page: https:// www.gob.mx/cnbv . Likewise, through said Internet page it will notify the general public of the date of the opening of the single window for receipt and delivery of documentation of the official records office, as well as through a notice placed in the site where the mentioned window is located in this Commission.

The administrative units that receive the information through the emails enabled for such effects must acknowledge receipt to the petitioner through the same channel, no later than within the two business days following the date of its receipt, assigning a folio number for identification and follow-up.

The requests and procedures presented through these emails must contain the express manifestation of the applicant in the sense that they accept being notified by this electronic means of the resolution taken by the Commission regarding it, which will consist of a digitized official document issued by the authorized public servant(s) and will be sent to the email address of the sender or that which for such effects is indicated in said request or procedure by the applicant.

The resolution granted by the National Banking and Securities Commission to the requests and which are notified to the applicants through the sender's email or the one indicated for such effects in their writing of reference, will be understood as notified and will have full legal effects.

The resolution to requests for authorization or approval that have entered the National Banking and Securities Commission prior to the publication of this Agreement and on which this Commission has not yet pronounced, may be notified to the applicant by means of the email that for such effects the Vicepresidency in charge of its supervision has, according to the Financial Entity or persons of which they are.

The recipient of the notification must confirm receipt of the email containing the resolution within two business days following, counted from the day the email was received.

THIRD. The resolutions and requests for information that, in exercise of the powers granted to it by the different financial laws and general provisions emanating from them, the National Banking and Securities Commission formulates to financial entities and persons subject to the supervision of this, may be notified and formulated by email, obtaining from the recipient the corresponding acknowledgment of receipt.

FOURTH. In order to contribute to social distancing to avoid person-to-person contagion and the propagation of COVID-19, the procedures for inspection visits ordered by the National Banking and Securities Commission will continue suspended; without prejudice to the fact that the President of the Commission orders the carrying out of those that he considers necessary due to the particular situation of the financial entity or person subject to supervision of the Commission.

FIFTH. For the effects of the first paragraph of SECOND of the CNBV Agreement, published by this financial authority in the Official Gazette of the Federation in its evening edition of March 26, 2020, it is not necessary to deliver physically the information or reports that have been presented to the Commission under said assumption, unless the corresponding Vicepresidency expressly requires it from the financial entity or person subject to the supervision of the Commission.

SIXTH. The administrative measures contained in this Agreement may be modified in attention to the recommendations of the health authorities for the opening, in a gradual, cautious and orderly manner, of activities related to the Federal Public Administration, as well as those that are established for Mexico City according to the color of the traffic light that evaluates the epidemiological risk related to the reopening of activities in said locality.

SEVENTH. This Agreement and the acts derived from it do not constitute a temporary or definitive limitation of the attributions and powers that the laws confer on the Commission, nor will they generate greater rights or benefits for financial entities and persons subject to supervision of the Commission, than those expressly and by virtue of the contingency, defined by the Commission itself, that authority being able to request the information that at any time it requires and instruct what is appropriate in exercise of its powers.

TRANSITORY PROVISIONS

FIRST.

Publish in the Official Gazette of the Federation.

SECOND. The administrative measures contained in this Agreement will take effect starting

of July 16, 2020 and will remain in effect until the President of the National Banking and Securities Commission suspends their application through the publication of the respective Order.

Sincerely,

Mexico City, July 10, 2020.- The President, Juan Pablo Graf Noriega.- Signature.

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