Regulatory Alerts2025-05-23 | DOF 5758092Added
Authorization for the Organization and Operation of Nubank, S.A., Multiple Banking Institution
The National Banking and Securities Commission authorizes the organization and operation of Nubank, S.A., Multiple Banking Institution, resulting from the transformation of Nu México Financiera, S.A. de C.V. This authorization is conditional upon the institution securing operational approval within the legal timeframe, maintaining a paid-in capital of at least $13,295,104,179.00 MXN, and demonstrating the necessary infrastructure for electronic fund transfers and operations with the Bank of Mexico prior to commencement. The promoters must submit the public instrument adopting the multiple banking institution regime and approving the bylaws to the Commission within ninety days of notification, and publish the authorization in the Official Gazette and two widely circulated newspapers within fifteen business days of receipt.
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