Regulatory Alerts2018-03-09 | DOF 5515623Added
Decree issuing the Law for the Regulation of Financial Technology Institutions and reforming various provisions of financial laws
This decree issues the Law for the Regulation of Financial Technology Institutions (ITF), establishing a regulatory framework for crowdfunding and electronic payment fund institutions. It defines key terms, assigns supervision to the CNBV and Bank of Mexico, and sets administrative resolution deadlines of 90 days, extendable to 180 days for inter-institutional reviews. The law mandates ITF authorization, prohibits government guarantees for client resources, restricts the use of financial entity staff for ITF promotion, and allows regulated financial entities to invest in ITF capital under specific limits and approvals.