Decree adding provisions to the Internal Regulations of the National Commission of Insurance and Bonds — SHCP — MX

DOF: 26/12/2017

DECRETE adding various provisions to the Internal Regulations of the National Commission of Insurance and Bonds

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

ENRIQUE PEÑA NIETO, President of the United Mexican States, in exercise of the power conferred upon me by Article 89, Section I of the Political Constitution of the United Mexican States, and based on Articles 14, 17, 18 and 31 of the Organic Law of the Federal Public Administration; 30, 31, 366, 367, 372 and 373 of the Law of Insurance and Bond Institutions, and 52 and 95 of the Law of Agricultural and Rural Insurance Funds, I have deemed it appropriate to issue the following

DECRETE ADDING VARIOUS PROVISIONS TO THE INTERNAL REGULATIONS OF THE NATIONAL COMMISSION OF INSURANCE AND BONDS

SINGLE ARTICLE.- Subsection d bis) to Section IV of Article 4; a third paragraph to Article 12; and Articles 25 Bis, 25 Bis1 and 25 Bis2 of the Internal Regulations of the National Commission of Insurance and Bonds are ADDED, to read as follows:

Article 4.- ...

I. to III.

...

IV.

...

a) to d)

...

d bis)

Supervision of Insurance Funds;

e) to j) ...

...

Article 12.-

...

The General Directorate of Supervision of Insurance Funds shall have only the powers set forth in Sections III to VI of this Article.

Article 25 Bis.- It corresponds to the General Directorate of Supervision of Insurance Funds to exercise inspection and surveillance of aspects related to the organization, functioning, operation and governance structure of insurance funds and integrating bodies registered with the Secretariat in terms of the Law of Agricultural and Rural Insurance Funds, as well as the coverages and products they offer, the constitution and investment of their technical reserves, the integration of their social fund, their reinsurance operations, their accounting, and the contributions they make to the protection and common risk retention funds provided for in said Law. Likewise, it corresponds to supervise that the resources destined for the promotion and support programs for insurance funds and integrating bodies are applied in accordance with what is provided in Article 93 of the Law of Agricultural and Rural Insurance Funds and other applicable legal provisions, and to inform the Secretariat about detected non-compliance.

For the purposes of the foregoing, this General Directorate shall have the following powers:

Order and carry out inspection visits to insurance funds, integrating bodies and other participants in the promotion and support programs referred to in the Law of Agricultural and Rural Insurance Funds that the Secretariat requests from the Commission to verify compliance with what is provided in said Law and other regulations that are applicable, in accordance with what is established in Article 52 of the Law of Agricultural and Rural Insurance Funds;

II.

Formulate the corresponding reports to the Secretariat of the visits carried out in terms of the previous section;

III.

Require, within the scope of its competence, information and documentation from insurance funds, integrating bodies and other participants in the promotion and support programs referred to in the Law of Agricultural and Rural Insurance Funds, indicating the deadlines and means for their delivery;

IV.

Verify during an inspection visit that the accounting of insurance funds complies with the general chart of accounts authorized by the Commission in accordance with what is stated in Article 38 of the Law of Agricultural and Rural Insurance Funds;

Monitor that the accounting of insurance funds complies with the general chart of accounts authorized by the Commission in accordance with what is stated in Article 38 of the Law of Agricultural and Rural Insurance Funds;

VI.

Verify during an inspection visit that the presentation and approval of the financial statements of insurance funds complies with what is provided in Article 38 of the Law of Agricultural and Rural Insurance Funds;

VII.

Monitor that the presentation and approval of the financial statements of insurance funds complies with what is provided in Article 38 of the Law of Agricultural and Rural Insurance Funds;

VIII.

Review the opinions on the annual financial statements of insurance funds carried out by an independent public accountant and verify that they comply with what is provided in Article 38 of the Law of Agricultural and Rural Insurance Funds;

IX.

Verify during an inspection visit that insurance funds constitute and, where applicable, increase the necessary technical reserves to meet their insurance commitments with their members, in accordance with what is provided in the Law of Agricultural and Rural Insurance Funds;

Monitor that insurance funds constitute and, where applicable, increase the necessary technical reserves to meet their insurance commitments with their members, in accordance with what is provided in the Law of Agricultural and Rural Insurance Funds;

XI.

Verify during an inspection visit that insurance funds carry out the investment of their assets backing their technical reserves, in accordance with what is provided in Article 39 of the Law of Agricultural and Rural Insurance Funds;

XII.

Monitor that insurance funds carry out the investment of their assets backing their technical reserves, in accordance with what is provided in Article 39 of the Law of Agricultural and Rural Insurance Funds.

For the purposes of the previous paragraph, the Commission, through general provisions, shall establish the form and terms by which insurance funds must report and prove the carrying out of said investments;

XIII.

Receive information related to the integration of the general assembly of members, the board of directors, the supervisory board and the appointment of the general director of insurance funds and supervise compliance by the Insurance Funds with what is provided in Articles 10 to 28 of the Law of Agricultural and Rural Insurance Funds;

XIV.

Supervise that the coverages and products offered by insurance funds comply with what is established in Articles 29 to 33, 36 and 40 of the Law of Agricultural and Rural Insurance Funds;

XV.

Verify during an inspection visit that the constitution of technical reserves for risks in progress and special contingency reserve is carried out in accordance with what is established in Article 34 of the Law of Agricultural and Rural Insurance Funds;

XVI.

Monitor that the constitution of technical reserves for risks in progress and special contingency reserve is carried out in accordance with what is established in Article 34 of the Law of Agricultural and Rural Insurance Funds;

XVII.

Verify during an inspection visit that the integration of the social fund of insurance funds is carried out in compliance with what is stated in Article 35 of the Law of Agricultural and Rural Insurance Funds;

XVIII.

Monitor that the integration of the social fund of insurance funds is carried out in compliance with what is stated in Article 35 of the Law of Agricultural and Rural Insurance Funds;

XIX.

Verify during an inspection visit that the risk retention and reinsurance operations carried out by insurance funds comply with what is established in Article 37 of the Law of Agricultural and Rural Insurance Funds;

XX.

Monitor that the risk retention and reinsurance operations carried out by insurance funds comply with what is established in Article 37 of the Law of Agricultural and Rural Insurance Funds;

XXI.

Verify during an inspection visit that the participation of insurance funds in the protection and common risk retention funds complies with what is provided in Articles 75 to 84 of the Law of Agricultural and Rural Insurance Funds;

XXII.

Monitor that the participation of insurance funds in the protection and common risk retention funds complies with what is provided in Articles 75 to 84 of the Law of Agricultural and Rural Insurance Funds;

XXIII.

Verify during an inspection visit that insurance funds correctly reflect in their accounting the receipt and application of resources they receive derived from the promotion and support programs referred to in the Law of Agricultural and Rural Insurance Funds, in accordance with what is provided in the operating rules and the chart of accounts of the Insurance Funds made known by the Commission, in terms of Article 38 of said Law;

XXIV.

Monitor that insurance funds, integrating bodies and other participants in the programs referred to in the first paragraph of this article, adequately reflect in their accounting the receipt and application of resources derived from each of said programs, as applicable, in accordance with what is stated in the applicable operating rules and other legal provisions related to the matter, and

XXV.

Report quarterly to the Secretariat on the results of the inspection and surveillance carried out on the operation and functioning of insurance funds, as well as on the application of resources to the programs referred to in the first paragraph of this article.

Article 25 Bis1.- It corresponds to the Insurance Funds Inspection Directorate to exercise the powers conferred in matters of inspection to the General Directorate of Supervision of Insurance Funds in Articles 12, Sections III to VI and 25 Bis, second paragraph, Sections I to IV, VI, VIII, IX, XI, XV, XVII, XIX, XXI and XXIII, as well as those that are attributed to it in the respective delegation agreements.

Article 25 Bis2.- It corresponds to the Insurance Funds Surveillance Directorate to exercise the powers conferred in matters of surveillance to the General Directorate of Insurance Funds in Articles 12, Sections V and VI and 25 Bis, second paragraph, Sections III, V, VII, X, XII to XIV, XVI, XVIII, XX, XXII, XXIV and XXV, as well as those that are attributed to it in the respective delegation agreements.

TRANSITORY

SOLE.- This Decree shall enter into force the day after its publication in the Official Gazette of the Federation.

Given in the residence of the Federal Executive Power, in Mexico City, on December twenty-one, two thousand seventeen.- Enrique Peña Nieto.- Signature.- The Secretary of Finance and Public Credit, José Antonio González Anaya.- Signature.

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