Agreement of the President of the National Commission of Insurance and Sureties Delegating Authority to Revoke Authorizations

DOF: 24/01/2017

AGREEMENT OF THE PRESIDENT OF THE NATIONAL COMMISSION OF INSURANCE AND SURETIES DELEGATING TO PUBLIC SERVANTS OF SAID COMMISSION AUTHORITY IN MATTER OF REVOCATION OF AUTHORIZATIONS.

A seal bearing the National Coat of Arms, which reads: United Mexican States.- Ministry of Finance and Public Credit.- National Commission of Insurance and Sureties.

AGREEMENT OF THE PRESIDENT OF THE NATIONAL COMMISSION OF INSURANCE AND SURETIES DELEGATING TO PUBLIC SERVANTS OF SAID COMMISSION AUTHORITY IN MATTER OF REVOCATION OF AUTHORIZATIONS.

The President of the National Commission of Insurance and Sureties, pursuant to Articles 93, 106, 366, Section XXVII, 367, Sections II to VII and the last paragraph, 372, Sections II, III, VI and XXII, 373, first paragraph, 382 and 477, third paragraph, and Twenty-Sixth Transitory Provision of the Law of Insurance and Surety Institutions; pursuant to Articles 1, 2, 4, Sections II, III, subsections a) and b), IV, subsections a), b), g) and h), and V, and the penultimate paragraph, 9, 10, Section VII, 11, first paragraph and Sections II and IX, 12, Sections II, III and XV, 14, 15, 16, 17, Sections X and XI, 18, 19, 20, 21, 22, 23, 24, 25, 32, Sections XXV and XXVII, 35, 36, Section VIII, 38 and 45, Sections III, IV and XI, of the Internal Regulations of the National Commission of Insurance and Sureties, and

CONSIDERING

That pursuant to Article 372, Section XXII of the Law of Insurance and Surety Institutions, it is the authority of the President of the National Commission of Insurance and Sureties, among others, to revoke the authorizations granted to persons and entities regulated by said Law, other than those required to organize and operate as insurance institutions, surety institutions or mutual insurance societies.

That the authorizations granted to persons and entities regulated by the Law of Insurance and Surety Institutions, other than those required to organize and operate as an insurance institution, surety institution or mutual insurance society, are the authorizations to exercise the activity of insurance agent or surety agent, provided for in Article 93 of the Law of Insurance and Surety Institutions and in the repealed Articles 23 of the General Law of Insurance and Mutual Societies, and 87 of the Federal Law of Surety Institutions, in relation to the Regulations of Insurance and Surety Agents; as well as the authorizations that reinsurance intermediaries must hold, provided for in Article 106 of the Law of Insurance and Surety Institutions in relation to Chapter 35.1 of the Single Circular of Insurance and Sureties, and in the repealed Article 26 of the General Law of Insurance and Mutual Societies in relation to the repealed Rules for the Authorization and Operation of Reinsurance Intermediaries.

That the factual circumstances that constitute the grounds for the National Commission of Insurance and Sureties to revoke the authorization granted to an insurance and/or surety agent or attorney-in-fact or to a reinsurance intermediary are provided for, respectively, in the Regulations of Insurance and Surety Agents, Articles 20, last paragraph, 31 and 32, in the Single Circular of Insurance and Sureties, Provisions 35.1.8 and 35.3.16, as well as in the Thirty-Second of the repealed Rules for the Authorization and Operation of Reinsurance Intermediaries, in relation to what is provided by Articles 23, third and fifth paragraphs, and 26, first and second paragraphs, of the repealed General Law of Insurance and Mutual Societies, by Article 87, second and third paragraphs, of the repealed Federal Law of Surety Institutions and by Articles 93, first paragraph, and 94 of the Law of Insurance and Surety Institutions; with the circumstance that the confirmation that any of the aforementioned factual circumstances has occurred may result from the activity of the competent supervisory areas of the National Commission of Insurance and Sureties; or may result from complaints against said agents or intermediaries filed before the Commission itself; or may be initiated by the agents or intermediaries themselves.

That the Internal Regulations of the National Commission of Insurance and Sureties, published in the Official Gazette of the Federation on June 3, 2015, in its Article 10, Section VII, provides that the Vice Presidencies of the Commission correspond to exercise, among others, the attributions that are the competence of the general directorates attached to them, according to the organic attachment determined by the Board of Directors through an agreement published in the Official Gazette of the Federation, as well as the other attributions entrusted to them by the President; in its Articles 11, first paragraph and Sections II and IX, 12, Section XV, 13, 14, 15 and 16, it provides that the General Directorate of Financial Supervision and the Directorates of Financial Inspection, Financial Surveillance and Specialized Supervision attached to it will have, among others, the attributions conferred upon them by delegatory agreement, including the attribution to impose sanctions; in its Articles 11, first paragraph and Sections II and IX, 12, Section XV, 17, 18 and 19, it provides that the General Directorate of Reinsurance Supervision and the Directorates of Reinsurance Inspection and Reinsurance Surveillance attached to it will have, among others, the attributions conferred upon them by delegatory agreement, including the attribution to impose sanctions; in its Articles 11, first paragraph and Sections II and IX, 12, Section XV, 20, 21 and 22, it provides that the General Directorate of Actuarial Supervision and the Directorates of Actuarial Inspection and Actuarial Surveillance attached to it will have, among others, the attributions conferred upon them by delegatory agreement, including the attribution to impose sanctions; in its Articles 11, first paragraph and Sections II and IX, 12, Section XV, 23, 24 and 25, it provides that the General Directorate of Supervision of Pension and Health Insurance and the Directorates of Inspection of Pension and Health Insurance and Surveillance of Pension and Health Insurance attached to it will have, among others, the attributions conferred upon them by delegatory agreement, including the attribution to impose sanctions; in its Articles 11, first paragraph and Sections II and IX, 32 and 35, it provides that the General Directorate of Legal Advisory and Intermediaries and the Directorate of Intermediaries, Records and Regional Liaison attached to it will have, among others, the attributions conferred upon them by delegatory agreement, including the attribution to impose sanctions; in its Articles 11, first paragraph and Sections II and IX, 36 and 38, it provides that the General Directorate of Contentious Legal and Sanctions and the Directorate of Sanctions and Appeals attached to it will have, among others, the attributions conferred upon them by delegatory agreement, including the attribution to impose sanctions; in its Article 45, Sections IV and XI, it provides that the regional delegations of the Commission
will have, among others, the attributions conferred upon them by delegatory agreement or in other legal provisions as well as the functions entrusted to them by their hierarchical superiors, including the sanctioning attribution.

That on July 3, 2015, the "Agreement of the Board of Directors of the National Commission of Insurance and Sureties by which the administrative units of the National Commission of Insurance and Sureties are organically attached" as well as the "Agreement of the Board of Directors of the National Commission of Insurance and Sureties by which the headquarters and territorial jurisdiction of the regional delegations of the National Commission of Insurance and Sureties are defined" were published in the Official Gazette of the Federation.

That in terms of Article 372, Section II, of the Law of Insurance and Surety Institutions, it is the authority and obligation of the President of the National Commission of Insurance and Sureties to ensure, in terms of said law and other relative laws, the effective compliance with its provisions.

That the Law of Insurance and Surety Institutions in its Twenty-Sixth Transitory Provision stipulates, among others, that the provisions in force at the time such conduct was carried out will be applicable to persons who had committed infractions prior to the entry into force of this latter Law.

That pursuant to Article 373, first paragraph, of the Law of Insurance and Surety Institutions, the President of the National Commission of Insurance and Sureties will exercise the authorities granted to him by said Law, directly or through the public servants of the Commission itself in terms of its Internal Regulations or through delegatory agreements that must be published in the Official Gazette of the Federation.

That in accordance with Article 372, Section VI, of the Law of Insurance and Surety Institutions, it is the authority of the President of the National Commission of Insurance and Sureties to issue the general provisions necessary for the exercise of the authorities that said Law and other laws and regulations grant him, and for the effective compliance with them and with the provisions issued based on them.

That in terms of what is provided in Section XXII of Article 372 of the Law of Insurance and Surety Institutions, it is the authority of the President of the National Commission of Insurance and Sureties, among others, to revoke the authorizations referred to in said Law, granted to persons and entities regulated by it, other than those required to organize and operate as insurance institutions, surety institutions and mutual insurance societies, with the circumstance that for greater efficiency and effectiveness in the exercise of said authority, it is necessary that it be delegated to public servants of the National Commission of Insurance and Sureties itself through a delegatory agreement that, in terms of what is provided in the first paragraph of Article 373 of the Law of Insurance and Surety Institutions, be published in the Official Gazette of the Federation.

That in view of the foregoing, it is appropriate to issue a delegatory agreement of the President of the National Commission of Insurance and Sureties, in the exercise of his authority to revoke the aforementioned authorizations, therefore, pursuant to Article 373, first paragraph, of the Law of Insurance and Surety Institutions, the President of the aforementioned Commission issues the following:

AGREEMENT

FIRST.- Authority to revoke the authorization to insurance and/or surety agents and attorneys-in-fact, for infringing conduct of the applicable legal provisions that have that legal consequence provided for and that are detected through the inspection and surveillance they exercise, in their respective scope of competence, is delegated to the General Directorates of Financial Supervision, Reinsurance Supervision, Actuarial Supervision and Pension and Health Insurance Supervision. This authority will be exercised throughout the national territory.

SECOND.- Authority to revoke the authorization to reinsurance intermediaries, for infringing conduct of the applicable legal provisions that have that legal consequence provided for and that are detected through the inspection and surveillance they exercise in their respective scope of competence, is delegated to the General Director of Reinsurance Supervision. This authority will be exercised throughout the national territory.

THIRD.- Authority to:

a) Revoke the authorization to insurance and/or surety agents and attorneys-in-fact, for infringing conduct of the applicable legal provisions that have that legal consequence provided for, due to complaints. This authority will be exercised with respect to insurance and/or surety agents and attorneys-in-fact whose last address known to the National Commission of Insurance and Sureties is located in the territorial jurisdiction of the States of Mexico, Morelos, Hidalgo, Tlaxcala, Querétaro, Guerrero or Mexico City, and

b) Revoke the authorization to reinsurance intermediaries for infringing conduct of the applicable legal provisions that have that legal consequence provided for, due to complaints. This authority will be exercised throughout the national territory.

is delegated to the General Director of Legal Advisory and Intermediaries.

FOURTH.- Authority to:

a) Revoke the authorization to insurance and/or surety agents and attorneys-in-fact in circumstances that have that legal consequence provided for and that are different from those established in this Agreement for the General Director of Financial Supervision, the General Director of Reinsurance Supervision, the General Director of Actuarial Supervision, the General Director of Pension and Health Insurance Supervision, the General Director of Contentious Legal and Sanctions, and the Regional Delegations. This authority will be exercised exclusively regarding authorizations issued by the General Director of Legal Advisory and Intermediaries himself, and

b) Revoke the authorization to reinsurance intermediaries in circumstances that have that legal consequence provided for and that are different from those established in this Agreement for the General Director of Reinsurance Supervision and the General Director of Contentious Legal and Sanctions. This authority will be exercised throughout the national territory.

is delegated to the General Director of Legal Advisory and Intermediaries.

FIFTH.- Authority to:

a) Revoke the authorization to insurance and/or surety agents and attorneys-in-fact for infringing conduct of the applicable legal provisions that have that legal consequence provided for, due to complaints against insurance and/or surety agents and attorneys-in-fact whose last address known to the National Commission of Insurance and Sureties by the agent or attorney-in-fact is located in the territorial jurisdiction of the respective Delegation, in terms of the "Agreement of the Board of Directors of the National Commission of Insurance and Sureties by which the headquarters and territorial jurisdiction of the regional delegations of the National Commission of Insurance and Sureties are defined", and

b) Revoke the authorization that they have granted to insurance and/or surety agents and attorneys-in-fact in the circumstances that have that legal consequence provided for and that are different from those established in this Agreement for the General Director of Financial Supervision, the General Director of Reinsurance Supervision, the General Director of Actuarial Supervision, the General Director of Pension and Health Insurance Supervision, the General Director of Contentious Legal and Sanctions and the General Director of Legal Advisory and Intermediaries, as well as different from infractions determined due to complaints. This authority will be exercised by each regional delegate with respect to the authorizations they have issued.

is delegated to each of the heads of the regional delegations.

SIXTH.- The public servants in whom the authority to revoke authorizations is delegated in accordance with points First to Fifth of this Agreement, as well as the public servants of lower hierarchy up to area directors or sub-delegates, in accordance with the attributions of their competence and, if applicable, within the respective territorial jurisdiction, will be authorized to issue the corresponding summons and to carry out all subsequent acts that are necessary for the processing of the respective procedures, including, among others, the formulation of information requests, the issuance of communications as well as, if applicable, the determination of suspension or dismissal of the procedure.

SEVENTH.- The authorities delegated in this Agreement, if applicable, will only have the limits by matter or territorial expressly established in it, and will be understood as conferred without prejudice to their direct exercise by the President of the National Commission of Insurance and Sureties or by the public servants, including the Vice President of Institutional Operation and the Vice President of Legal Affairs, of higher hierarchy than those in whom they are delegated, in accordance with the attributions of their competence.

EIGHTH.- Issues of competence that arise will be resolved by the Legal Vice Presidency.

TRANSITORY PROVISIONS

FIRST.- This Agreement shall be published in the Official Gazette of the Federation.

SECOND.- This Agreement will enter into force the day following its publication in the Official Gazette of the Federation.

THIRD.- The revocation authorities delegated will be exercised including the infractions and other factual circumstances that had been committed or carried out during the validity of the General Law of Insurance and Mutual Societies, and of the Federal Law of Surety Institutions, with respect to the Regulations of Insurance and Surety Agents, and with respect to the Rules for the Authorization and Operation of Reinsurance Intermediaries, and even if the procedures are pending when this Agreement enters into force.

FOURTH.- The authorities delegated to issue the corresponding summons and to carry out all subsequent acts that are necessary for the processing of the respective procedures, including, among others, the formulation of information requests, the issuance of communications as well as, if applicable, the determination of suspension or dismissal of the procedure, will be exercised even if the procedures are pending when this Agreement enters into force.

The foregoing is communicated pursuant to Articles 366, Section II, 367, 372, Sections VI and XLII, 373, first paragraph, and 381, of the Law of Insurance and Surety Institutions.

Respectfully,

Effective Suffrage. No Re-election.

Mexico City, January 5, 2017.- The President of the National Commission of Insurance and Sureties, Norma Alicia Rosas Rodríguez.- Signature.

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