Region

Jurisdiction

Regulator

2024-01-24 | DOF 5715032

Added 2026-08-26

Decree reforming, adding, and repealing various financial laws regarding administrative procedures

This Decree amends the administrative sanctioning procedures for financial entities under the Law for Transparency and Ordering of Financial Services, the Law for Protection and Defense of Financial Services Users, the Credit Institutions Law, the Securities Market Law, and the Law for Regulating Financial Groups. It establishes a five-year statute of limitations for imposing administrative sanctions, which is interrupted by the notification of the right to a hearing and suspended for up to two years if the entity's registered address is incorrect or if the entity contests the sanctioning acts. The reforms standardize procedural timelines, granting a ten-day period for the alleged infringer to present defenses and evidence, followed by a sixty-day period for the authority to review evidence, a five-day period for final arguments, and a maximum of one hundred eighty days for the authority to issue a final resolution. Additionally, it introduces specific provisions for the revocation of concessions and authorizations, requiring publication in the Official Journal and registration in the Public Commerce Registry.

Mexico

Secretaria de Hacienda y Credito Publico

DOF: 24/01/2024

DECREE reforming, adding, and repealing various financial laws regarding administrative procedures

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

ANDRÉS MANUEL LÓPEZ OBRADOR, President of the United Mexican States, to its inhabitants be it known:

That the Honorable Congress of the Union has seen fit to address to me the following

DECREE

" THE GENERAL CONGRESS OF THE UNITED MEXICAN STATES, DECREES:

REFORMING, ADDING, AND REPEALING VARIOUS FINANCIAL LAWS REGARDING ADMINISTRATIVE PROCEDURES

First Article.- Articles 22, paragraphs first and third, subsections a) and b); 24, current second paragraph; 26; 27; 29, first paragraph; 30, third paragraph; and 31; are reformed; and Articles 22, with a fourth paragraph; 24, with second and fourth paragraphs; 24 Bis; and 31 Bis, of the Law for Transparency and Ordering of Financial Services, are added, to read as follows:

Article 22.- General nature provisions, such as circulars and rules, as well as other acts and notifications issued by the Bank of Mexico in the exercise of the powers granted to it by the Political Constitution of the United Mexican States, and the laws, may be made known:

I. and II.

...

a) The credit institutions, entities, and financial intermediaries concerned shall provide the Bank of Mexico with the information it requires to make known the provisions, acts, and notifications mentioned. The provisions, acts, and notifications that the Bank of Mexico sends or communicates based on the information provided by the credit institutions, entities, and financial intermediaries, bind and produce their effects in the terms set by them.

b) When the provisions, acts, and notifications of the Bank of Mexico are sent to credit institutions, entities, or financial intermediaries, through electronic means other than fax, which allow attaching the data message and signing it electronically, the respective signatures must correspond to the officials competent to issue them in terms of the Internal Regulations of the Bank of Mexico, and have been generated based on the electronic signature creation data in accordance with the procedures and systems of the Extended Security Infrastructure administered by the Bank of Mexico itself.

The Bank of Mexico shall be empowered to supervise and monitor compliance, by the corresponding subjects, with the provisions of the laws that grant it attributions to regulate specific acts and operations indicated in such provisions, without prejudice to the supervision and monitoring powers that these laws grant to any other authority regarding the other provisions contained therein. In the exercise of these supervision and monitoring powers, the Bank shall observe what is provided in this regard in the Bank of Mexico Law, as well as in the general rules issued by it, to ensure compliance with its own regulation.

Article 24.- ...

For the case of continuous conduct, the period referred to in the previous paragraph shall be calculated from the moment it ceases, and for repeated conduct, said period shall count from the consummation of the last conduct.

The five-year period provided for in the first paragraph of this article shall be interrupted, for the purposes of the start of the administrative sanctioning procedure, from the moment of notification to the alleged infringer of the letter granting the right to a hearing, in terms of what is provided in Articles 28 and 29 of this Law.

Likewise, the five-year period provided for by this article shall be suspended:

I. For up to two years, when the Financial Entity: is not located at the address registered with the respective Authority without having presented the corresponding change notice, or has indicated an incorrect address.

The aforementioned period shall resume from the date on which the Authority becomes aware of the current address.

II. When the Financial Entity has contested any of the acts related to the process of imposing the sanction. Such suspension shall be calculated from the date of filing the defense mechanism and until the date on which the corresponding final resolution is issued.

Article 24 Bis.- Regarding the power of the Bank of Mexico to impose administrative sanctions for infringements of provisions of other laws, as well as the provisions it issues based on said laws, when these do not expressly provide a period for the expiration of its attributions, the terms and conditions of the previous Article 24 shall apply.

Article 26.- All proceedings shall be carried out on business days and hours. Business days, with respect to Financial Entities, shall be all days of the year, except Saturdays and Sundays and those determined by the competent Authority to resolve the respective administrative sanctioning procedure, through general nature provisions, agreements, or publications, made in the Official Journal of the Federation with the periodicity determined by each Authority. Business hours, with respect to financial entities, shall be those between nine and eighteen hours. Likewise, business days with respect to commercial entities shall be those designated as such in the Federal Law of Administrative Procedure.

Without prejudice to what is provided in this article, Authorities may carry out notifications by electronic means outside the business hours provided in the previous paragraph, in which case they shall be understood to have been carried out at the next business hour following the moment in which they were made.

Article 27.- Notifications carried out by Authorities may be made electronically through the systems that they themselves indicate in the general nature provisions issued for this purpose.

In what is not provided in the provisions indicated in this paragraph regarding electronic notifications, as well as in the case where notification through this channel is not possible, the Fiscal Code of the Federation shall apply in its part relative to notifications.

Regarding notifications that correspond to the Bank of Mexico, these shall be subject, in addition to the ordinance referred to in the previous paragraph, to the general rules issued for this purpose.

Article 29.- In the notification referred to in the immediate preceding article, Authorities shall grant the right to a hearing to the alleged infringer, in order that within a period of ten business days, counted from the business day following that on which the corresponding notification takes effect, he/she may state what is in his/her interest and offer written evidence.

...

Article 30.- ...

...

The offering, admission, preparation, discharge, and valuation of evidence shall be made in the terms and conditions established in the Federal Code of Civil Procedures.

Article 31.- Upon conclusion of the period referred to in Article 29 of this Law and, if applicable, its extension, Authorities shall have up to sixty business days for the discharge of evidence. Once the evidence admitted to the alleged infringer has been discharged, the corresponding Authority shall notify him/her of the opening of the five-business-day period to formulate arguments. The respective Authority may carry out such notification by docket or by any other means, in cases where it so determines.

On the business day following the expiration of the period to formulate arguments, the instruction shall be considered closed, and the respective Authority shall have a period not exceeding one hundred eighty business days to issue and notify the resolution that ends the sanctioning procedure and impose, if applicable, the sanctions that proceed according to law.

Article 31 Bis.- Regarding the power of the Bank of Mexico to impose administrative sanctions for infringements of provisions of other laws, as well as the provisions issued from them, when these laws do not expressly provide the stages and periods for the exercise of this power, the Bank shall observe what is provided in the previous Article 31.

Second Article.- Articles 7th, first paragraph; and 96; and Article 7th, with a second paragraph, renumbering the subsequent one, of the Law for Protection and Defense of Financial Services Users, are reformed and added, to read as follows:

Article 7th.- Notifications carried out by the National Commission may be made electronically through the systems that it itself indicates in the general nature provisions issued for this purpose. In what is not provided in the provisions indicated in this paragraph regarding electronic notifications, as well as in the case where notification through this channel is not possible, the Fiscal Code of the Federation shall apply in the part relative to notifications.

All proceedings shall be carried out on business days and hours. Business days shall be all days of the year, except Saturdays and Sundays, as well as those determined by the National Commission, through a publication made in the Official Journal of the Federation. Business hours shall be those between nine and eighteen hours.

...

Article 96.- In order to impose the corresponding fine, the National Commission must previously hear the allegedly infringing Financial Institution and take into account its economic conditions, the gravity of the offense committed, as well as the need to avoid recidivism and practices tending to contravene the provisions contained in this Law.

The power of the National Commission to impose the administrative sanctions indicated in this Law shall expire in a period of five years, counted from the day following that on which the conduct was carried out or the assumption of the infringement was updated.

The five-year period provided for in the previous paragraph shall be interrupted, for the purposes of the start of the administrative sanctioning procedure, from the moment of notification to the alleged infringer of the letter granting the right to a hearing, in terms of what is provided in the first paragraph of this article, without this implying exceeding the period indicated in the previous paragraph.

Likewise, the five-year period provided for by this article shall be suspended:

I. For up to two years, when the Financial Institution: is not located at the address registered with the National Commission without having presented the corresponding change notice, or has indicated an incorrect address.

The aforementioned period shall resume from the date on which the National Commission becomes aware of the current address.

II. When the Financial Institution has contested any of the acts related to the process of imposing the sanction. Such suspension shall be calculated from the date of filing the defense mechanism and until the date on which the corresponding final resolution is issued.

Prior to the imposition of sanctions, the facts imputed to the alleged infringer and the provisions considered probably infringed shall be notified in writing.

In the notification referred to in the immediate preceding paragraph, the right to a hearing shall be granted to the alleged infringer, in order that, within a period that cannot be less than ten business days, counted from the business day following that on which the corresponding notification takes effect, he/she may state what is in his/her interest and offer written evidence. The National Commission, at the request of the party, may extend the aforementioned period by a single occasion, for up to the same duration, attending to the particular circumstances of the case.

Upon conclusion of the period referred to in the previous paragraph and, if applicable, its extension, the National Commission shall have up to sixty business days for the discharge of evidence.

In the administrative sanctioning procedure, all kinds of evidence shall be admitted, except testimonial evidence and the confession of the National Commissions or their public servants, through position absolution.

The offering, admission, preparation, discharge, and valuation of evidence shall be made in the terms and conditions established in the Federal Code of Civil Procedures.

Once the evidence admitted to the alleged infringer has been discharged, the National Commission shall notify him/her of the opening of the five-business-day period to formulate arguments.

On the business day following the expiration of the period to formulate arguments, the instruction shall be considered closed, and the National Commission shall have a period that does not exceed one hundred eighty business days to issue and notify the resolution that ends the sanctioning procedure referred to in this Chapter, imposing, if applicable, the sanctions that proceed according to law.

For the imposition of sanctions, non-compliance sanctioned in terms of subsections I, from III to V, and from XI to XVI of Article 94 of this Law shall be considered serious.

Third Article.- Articles 107 Bis, first paragraph, subsections I and IV, subsection f); 109 Bis 1, first and second paragraphs; and Articles 48 Bis 1, with a last paragraph; 107 Bis, with second, third, and fourth paragraphs; and 109 Bis 1, with a third paragraph, renumbering the subsequent ones, of the Credit Institutions Law, are reformed and added, to read as follows:

Article 48 Bis 1.-

...

The notifications, procedure, and resolution of the reconsideration appeal shall be governed by the Bank of Mexico Law, its Internal Regulations, and the general rules issued for this purpose by the Bank itself.

Article 107 Bis.- The National Banking and Securities Commission, the Commission for the Protection and Defense of Financial Services Users, as well as the Institute for the Protection of Bank Savings and the Bank of Mexico, within the scope of their respective competencies, in the imposition of administrative sanctions referred to in this Law, shall be subject to the following:

I. A hearing shall be granted to the alleged infringer, who, within a period of ten business days counted from the business day following that on which the corresponding notification takes effect, must state in writing what is in his/her interest and offer evidence. The National Banking and Securities Commission, the Commission for the Protection and Defense of Financial Services Users, as well as the Institute for the Protection of Bank Savings and the Bank of Mexico, at the request of the party, may extend by a single occasion the period referred to in this subsection, for up to the same duration, for which it will consider the particular circumstances of the case. The notification shall take effect on the business day following that on which it is carried out.

II. and III. ...

IV. ...

a) to e)

...

f) The other circumstances that the National Banking and Securities Commission, the Commission for the Protection and Defense of Financial Services Users, as well as the Institute for the Protection of Bank Savings and the Bank of Mexico, as applicable, deem applicable for such purposes.

Upon conclusion of the period referred to in subsection I of this article, and if applicable, its extension, the National Banking and Securities Commission, the Commission for the Protection and Defense of Financial Services Users, as well as the Institute for the Protection of Bank Savings and the Bank of Mexico, as applicable, shall have up to sixty business days for the discharge of evidence.

Once the evidence admitted to the alleged infringer has been discharged, the corresponding authority, from those indicated in the previous paragraph, shall notify him/her of the opening of the five-business-day period to formulate arguments. The respective authority may carry out such notification by docket or by any other means, in cases where it so determines.

On the business day following the expiration of the period to formulate arguments, the instruction shall be considered closed, and the respective authority shall have a period not exceeding one hundred eighty business days to issue and notify the resolution that ends the sanctioning procedure, as well as to impose, if applicable, the sanctions that proceed according to law.

Article 109 Bis 1.- The powers of the National Banking and Securities Commission, the Commission for the Protection and Defense of Financial Services Users, as well as the Institute for the Protection of Bank Savings and the Bank of Mexico to impose the administrative sanctions provided for in this Law, as well as in the provisions emanating from it, shall expire in a period of five years, counted from the business day following that on which the conduct was carried out or the infringement assumption was updated. For the case of continuous conduct, the period referred to shall be calculated from the moment it ceases, and for repeated conduct, it shall count from the consummation of the last conduct.

The expiration referred to in the previous paragraph shall be interrupted from the notification to the alleged infringer of the letter granting the right to a hearing.

Likewise, the five-year period provided for by this article shall be suspended:

I. For up to two years, when the alleged infringer: is not located at the address registered with the respective authority without having presented the corresponding change notice, or has indicated an incorrect address.

The aforementioned period shall resume from the date on which the Authority becomes aware of the current address.

II. When the alleged infringer has contested any of the acts related to the process of imposing the sanction. Such suspension shall be calculated from the date of filing the defense mechanism and until the date on which the corresponding final resolution is issued.

In addition to what is provided in the two previous paragraphs, with respect to the Bank of Mexico, what is provided in the general rules issued by the Bank itself shall also be observed.

...

Fourth Article.- Articles 389, second paragraph; and 391, subsection I; and Articles 389 Bis; 391, with second and third paragraphs, renumbering the subsequent ones; and Article 389, last paragraph, of the Securities Market Law, are reformed and added; and Article 389, last paragraph, is repealed, to read as follows:

Article 389.- ...

Once the right to a hearing referred to in Articles 153, 268, 269, 298, 299, 319, 320, 332, 340, and 391 of this Law has been discharged, or the written document through which a review appeal is filed has been presented, only supervening evidence shall be admitted, provided that the corresponding resolution has not been issued.

...

(Repealed)

Article 389 Bis.- The administrative procedures for the revocation of concessions or authorizations referred to in Articles 153, 268, 269, 298, 299, 319, 320, 332, and 340 of this Law shall be subject to what is provided by Articles 389 and 391 of this Law insofar as applicable.

For the purposes of the procedures indicated in the previous paragraph, once the period established by subsection I of the aforementioned Article 391 has concluded, and if applicable, its extension, the Commission or the Secretariat, as applicable, shall have a period that does not exceed one hundred eighty business days to issue and notify the resolution that ends the administrative revocation procedure.

In the cases provided for in Articles 268, 298, and 319, the National Banking and Securities Commission and the Bank of Mexico, as applicable, must issue the required opinion, with at least thirty business days in advance before the period provided for issuing the resolution that ends the revocation procedure expires. In the event that any of the aforementioned opinions is issued after the indicated period, the Secretariat may resolve what corresponds with the records in the file, without the need to consider the opinion presented late.

The declaration of revocation of the concessions and authorizations referred to in the first paragraph of this article shall be published in the Official Journal of the Federation and must be registered in the Public Commerce Registry corresponding to the social address of the society in question, for which the Registry shall only require prior notification. The revocation of the authorizations referred to in Articles 153, 268, 269, 332, and 340 shall put the corresponding society in a state of dissolution and liquidation from the date on which it is notified without the need for the agreement of the shareholders' assembly.

Article 391.-

...

I. A hearing shall be granted to the alleged infringer, who, within a period of ten business days, counted from the business day following that on which the corresponding notification takes effect, must state in writing what is in his/her interest and offer evidence. The Commission, at the request of the party, may extend by a single occasion the period referred to in this subsection, for up to the same duration, attending to the particular circumstances of the case. The notification shall take effect on the business day following that on which it is carried out.

II. to IV. ...

Upon conclusion of the period referred to in subsection I of this article, and if applicable, its extension, the Commission shall have a period of up to sixty business days for the discharge of evidence. Once the evidence admitted to the alleged infringer has been discharged, the Commission shall notify him/her of the opening of the five-business-day period to formulate arguments. The notification may be carried out by docket or by any other means determined by the Commission.

...

Fifth Article.- Articles 123, first and current third paragraphs; and 143, subsection I; and Articles 122, with third and fourth paragraphs; 123, with third, fourth, and fifth paragraphs, renumbering the subsequent ones; and 143, with second, third, and fourth paragraphs; and Article 123, current fourth paragraph, of the Law for Regulating Financial Groups, are reformed and added; and Article 123, current fourth paragraph, is repealed, to read as follows:

Article 122.-

...

Registro Público de Comercio, the company must notify the Secretariat of said registration.

Upon revocation of the authorization of the Holding Company, the financial entities that are part of the Financial Group must cease to be considered part of it. Such financial entities will have a maximum period of sixty business days, counted from the publication of the revocation in the aforementioned Official Journal, to suspend the offer of products and provision of financial services in the branches of the other financial entities that made up the Financial Group.

Article 123.- The Secretariat, hearing the opinion of the Bank of Mexico and, as applicable, the National Banking and Securities Commission, the Insurance and Bonds Commission or the Retirement Savings System, and after a hearing of the Holding Company of the affected Financial Group, may declare the revocation of the authorization granted for the organization of the Holding Company and the constitution and operation of the Financial Group provided for in this legal instrument, in the following cases:

I. to VI.

...

For the purposes of what is provided in the first paragraph of this article, a hearing will be granted to the Holding Company in question, so that, within a period of ten business days counted from the next business day following that on which the corresponding notification takes effect, it may manifest in writing what is convenient for its interest and offer evidence.

The Secretariat, at the request of the party, may extend the period provided for in the previous paragraph by one single occasion, for the same duration, for which it will consider the particular circumstances of the case. Notifications will take effect on the next business day following that on which they are carried out. Once the period referred to in the previous paragraph, and in its case the extension thereof, has elapsed, the Secretariat will have a period of up to sixty business days to process the evidence. After the period for processing evidence has elapsed, the Holding Company will have five business days to formulate arguments. On the next business day following the expiration of said period, the instruction will be considered closed and the Secretariat will have a period not exceeding one hundred eighty business days to issue and notify the resolution that puts an end to the revocation procedure referred to in this article.

The Bank of Mexico and, as applicable, the National Banking and Securities Commission, the Insurance and Bonds Commission or the Retirement Savings System, must issue the opinion referred to in the first paragraph of this article, at least thirty business days in advance of the expiration of the period provided for issuing the resolution that puts an end to the revocation procedure. In the event that any of the aforementioned opinions are issued after the specified period, the Secretariat may resolve what corresponds with the records in the file, without the need to consider the opinion presented late.

The declaration of revocation will be published in the Official Journal of the Federation and must be registered in the Public Commerce Registry corresponding to the social domicile of the Holding Company in question, for which the Registry will only require prior notification. The revocation will put the Holding Company in a state of dissolution and liquidation from the date it is notified, without the need for the agreement of the shareholders' meeting.

(Repealed)

...

Article 143.- ...

I. A hearing will be granted to the alleged offender, who, within a period of ten business days counted from the next business day following that on which the corresponding notification takes effect, must manifest in writing what is convenient for their interest and offer evidence. The aforementioned Commission, at the request of the party, may extend the period referred to in this fraction by one single occasion, for the same duration, for which it will consider the particular circumstances of the case. The notification will take effect on the next business day following that on which it is carried out, and

II. and III.

...

Once the period referred to in fraction I of this article, and in its case the extension thereof, has elapsed, the Supervisory Commission will have a period of up to sixty business days to process the evidence.

Once the evidence admitted to the alleged offender has been processed, the Supervisory Commission will notify the opening of the five-business-day period to formulate arguments. The respective Commission may carry out such notification by posting or by any other means it determines.

On the next business day following the expiration of the period to formulate arguments, the instruction will be considered closed and the respective Commission will have a period not greater than one hundred eighty business days to issue and notify the resolution that puts an end to the sanctioning procedure and impose, if applicable, the sanctions that proceed according to law.

Article Sixth.- Articles 78, current second paragraph; and 87, current second paragraph; are reformed; and Article 78 is added with the second, third, fourth and fifth paragraphs, shifting the subsequent ones; and 87, with the second, third, fourth and fifth paragraphs, shifting the subsequent ones; 87-D, with a tenth paragraph, shifting the subsequent one; and 88 Bis, with the second and third paragraphs, of the General Law of Organizations and Activities Auxiliary to Credit, to read as follows:

Article 78.- ...

The Secretariat will grant the right of hearing to the interested company, so that within a period of ten business days, counted from the next business day following that on which the corresponding notification takes effect, it may manifest in writing what is convenient for its interest and offer evidence. The Secretariat, at the request of the party, may extend the period referred to in this fraction by one single occasion, for the same duration, attending to the particular circumstances of the case. Notifications will take effect on the next business day following that on which they are carried out.

Once the period referred to in fraction I of this article, and in its case the extension thereof, has elapsed, the Secretariat will have a period of up to sixty business days to process the evidence.

After the period for processing evidence has elapsed, the Secretariat will notify the alleged offender of the opening of the five-business-day period to formulate arguments. The Secretariat may carry out such notification by posting or by any other means it determines. On the next business day following the expiration of the period to formulate arguments, the instruction will be considered closed and the Secretariat will have a period not greater than one hundred eighty business days to issue and notify the resolution that puts an end to the revocation procedure referred to in this article.

The National Banking and Securities Commission and the Bank of Mexico must issue the opinion required in terms of the first paragraph of this article, at least thirty business days in advance of the expiration of the period provided for issuing the resolution that puts an end to the revocation procedure. In the event that any of the opinions are issued after the specified period, the Secretariat may resolve what corresponds with the records in the file, without the need to consider the opinions.

The declaration of revocation will be published in the Official Journal of the Federation and must be registered in the Public Commerce Registry corresponding to the social domicile of the Company in question, for which the Registry will only require prior notification from the Secretariat of Finance and Public Credit. The revocation will incapacitate the company from carrying out its operations from the date it is notified and will put it in a state of dissolution and liquidation without the need for the agreement of the shareholders' meeting.

...

Article 87.- ...

I. to VII.

...

The Secretariat will grant the right of hearing to the interested company, so that, within a period of ten business days, counted from the next business day following that on which the corresponding notification takes effect, it may manifest in writing what is convenient for its interest and offer evidence. The Secretariat, at the request of the party, may extend the period referred to in this fraction by one single occasion, for the same duration, attending to the particular circumstances of the case. Notifications will take effect on the next business day following that on which they are carried out.

Once the period referred to in fraction I of this article, and in its case the extension thereof, has elapsed, the Secretariat will have a period of up to sixty business days to process the evidence.

After the period for processing evidence has elapsed, the Secretariat will notify the opening of the five-business-day period to formulate arguments. The Secretariat may carry out such notification by posting or by any other means it determines. On the next business day following the expiration of the period to formulate arguments, the instruction will be considered closed and the Secretariat will have a period not greater than one hundred eighty business days to issue and notify the resolution that puts an end to the revocation procedure.

The declaration of revocation will be published in the Official Journal of the Federation and must be registered in the Public Commerce Registry corresponding to the social domicile of the Company in question, for which the Registry will only require prior notification from the Secretariat of Finance and Public Credit. The revocation will incapacitate the company from carrying out its operations from the date it is notified and will put it in a state of dissolution and liquidation without the need for the agreement of the shareholders' meeting.

...

Article 87-D.-

...

The notifications, procedure and resolution of the reconsideration appeal will be governed by the Bank of Mexico Law, its Internal Regulations and the general rules issued by the Bank itself.

...

Article 88 Bis.-

...

Once the period referred to in fraction I of this article, and in its case the extension thereof, has elapsed, the National Banking and Securities Commission will have a period of up to sixty business days to process the evidence. After the period for processing evidence has elapsed, the Commission will notify the opening of the five-business-day period to formulate arguments. The Commission may carry out such notification by posting or by any other means it determines.

On the next business day following the expiration of the period to formulate arguments, the instruction will be considered closed and the Commission will have a period not greater than one hundred eighty business days to issue and notify the resolution that puts an end to the sanctioning procedure and impose, if applicable, the sanctions that proceed according to law.

Article Seventh.- Articles 17, first paragraph; 19, first paragraph; 53, fraction I; and 54, first paragraph; are reformed; and Articles 19, with the second, third, fourth, fifth and sixth paragraphs; 53, with the second and third paragraphs, shifting the subsequent one; 54, with a second paragraph, shifting the subsequent one, of the Law to Regulate Credit Information Societies, are added, to read as follows:

Article 17.- Societies will be subject to inspection and supervision by the Commission, to which they must pay the fees established by the Secretariat, as well as by the Bank of Mexico, within the scope of their respective competencies.

...

Article 19.- The Secretariat, with the opinion of the Commission and the Bank of Mexico and after a hearing of the interested company, may revoke the authorization granted in the cases where the Society:

I. to VIII.

...

Once the period referred to in the previous paragraph, and in its case, the extension thereof, has elapsed, the Secretariat will have a period of up to sixty business days to process the evidence. After the period for processing evidence has elapsed, the Secretariat will notify the opening of the five-business-day period to formulate arguments. The Secretariat may carry out such notification by posting or by any other means it determines. On the next business day following the expiration of the period to formulate arguments, the instruction will be considered closed and the Secretariat will have a period not greater than one hundred eighty business days to issue and notify the resolution that puts an end to the revocation procedure.

The Commission and the Bank of Mexico must issue the opinion referred to in the first paragraph of this article, at least thirty business days in advance of the expiration of the period provided for issuing the resolution that puts an end to the revocation procedure. In the event that any of the aforementioned opinions are issued after the specified period, the Secretariat may resolve what corresponds with the records in the file, without the need to consider the opinion presented late.

The declaration of revocation will be published in the Official Journal of the Federation and must be registered in the Public Commerce Registry corresponding to the social domicile of the Company in question, for which the Registry will only require prior notification from the Secretariat. The revocation will incapacitate the company from carrying out its activities from the date it is notified and will put it in a state of dissolution and liquidation without the need for the agreement of the shareholders' meeting.

Once the revocation is registered in the Public Commerce Registry, the National Banking and Securities Commission will promote before the judicial authority to appoint the liquidator if, within a period of sixty business days of the revocation being published in the Official Journal of the Federation, it has not been appointed.

Article 53.- ...

I. The alleged offender will be granted the right of hearing, who, within a period of ten business days, counted from the next business day following that on which the corresponding notification takes effect, must manifest in writing what is convenient for their interest and provide the evidence they deem convenient. The Commission, the Bank of Mexico, Profeco and Condusef, as applicable, at the request of the party, may extend the period referred to in this fraction by one single occasion, for the same duration, attending to the particular circumstances of the case. Notifications will take effect on the next business day following that on which they are carried out.

II. and III.

...

Once the period referred to in fraction I of this article and, in its case, the extension thereof, has elapsed, the Commission, the Bank of Mexico, Profeco and Condusef, as applicable, will have a period of up to sixty business days to process the evidence.

After the period for processing evidence has elapsed, the corresponding authority among those indicated in the previous paragraph will notify the opening of the five-business-day period to formulate arguments. The corresponding authority may carry out such notification by posting or by any other means it determines. On the next business day following the expiration of the period to formulate arguments, the instruction will be considered closed and the authority will have a period not greater than one hundred eighty business days to issue and notify the resolution that puts an end to the sanctioning procedure.

...

Article 54.- The faculty of the Bank of Mexico, Profeco, Condusef and the Commission to impose the administrative sanctions provided for in this Law will expire in a period of five years, counted from the commission of the offense. The reference period will be interrupted upon the initiation of the administrative procedure related to it. In the case of continuous conduct, the referred period must be calculated from when the infringing conduct ceased. Regarding continued conduct, the referred period will run from when the last conduct was consummated.

Likewise, the five-year period provided for in this article will be suspended:

I. For up to two years, when the Financial Entity: is not located at the registered domicile with the respective Authority without having presented the corresponding change notice, or has indicated an incorrect domicile.

The aforementioned period will resume from the date the Authority becomes aware of the current domicile.

II. When the Financial Entity has contested any of the acts related to the sanction imposition process. Such suspension will be calculated from the date of filing the defense mechanism until the date the corresponding final resolution is issued.

...

Article Eighth.- Articles 81, first paragraph; 82 Bis; and 84, sixth paragraph, fraction I; are reformed; Articles 81, with a fourth paragraph; 84, with a ninth paragraph, shifting the subsequent one; 84 Bis, with the third and fourth paragraphs, shifting the subsequent ones, and a final one; and 87, with a final paragraph, of the Investment Funds Law, are added, to read as follows:

Article 81.- The Commission and the Bank of Mexico, within the scope of their respective competencies, will have faculties to investigate, in the administrative sphere, acts or facts that presumably constitute or may come to constitute an infringement of what is provided for in this Law or to the general provisions derived from it.

...

Additionally, the supervision carried out by the Bank of Mexico will attend to what is established in the Bank of Mexico Law, as well as to the general rules issued to that effect by the Bank itself.

Article 82 Bis.- The Commission will grant interested societies the right of hearing referred to in Articles 82 and 83 so that, within a period of ten business days, counted from the next business day following that on which the corresponding notification takes effect, they may manifest in writing what is convenient for their interest and offer evidence. The Commission, at the request of the party, may extend this period by one single occasion, for the same duration, attending to the particular circumstances of the case. Notifications will take effect on the next business day following that on which they are carried out.

Once the period referred to in the previous paragraph, and in its case the extension thereof, has elapsed, the Commission will have a period of up to sixty business days to process the evidence. After the period for processing evidence has elapsed, the Commission will notify the opening of the five-business-day period to formulate arguments; the Commission may carry out such notification by posting or by any other means, in the cases where it so determines. On the next business day following the expiration of said period, the instruction will be considered closed and the Commission will have a period that will not exceed one hundred eighty business days to issue and notify the resolution that puts an end to the sanctioning procedure, referred to in this article. The respective Commission may carry out such notification by posting or by any other means it determines.

The Commission will publish in the Official Journal of the Federation and in two newspapers of wide circulation in the country, the declarations of revocation referred to in Article 83 of this Law, which must be registered in the Public Commerce Registry corresponding to the social domicile of the company in question. The declaration of revocation referred to in Article 82 must only be made in the National Registry by the Commission.

The revocation declarations indicated in the previous paragraph must be registered in the Public Commerce Registry corresponding to the social domicile of the Company in question, for which the Registry will only require prior notification from the National Banking and Securities Commission.

The revocation will incapacitate the investment fund, the fund operating company, the fund share distribution company or the fund share valuation company in question, from carrying out their activities and operations from the date it is notified and will put them in a state of dissolution and liquidation without the need for the agreement of the shareholders' meeting or, in the case of investment funds, without the need for the agreement of the board of directors of the fund operating company providing services to them, in the latter case, with respect to the cases referred to in Article 82 of this Law.

Article 84.- ...

...

I. A hearing will be granted to the alleged offender, who, within a period of ten business days counted from the next business day following that on which the corresponding notification takes effect, must manifest in writing what is convenient for their interest and offer evidence. The Commission, at the request of the party, may extend the period referred to in this fraction by one single occasion, for the same duration, for which it will consider the particular circumstances of the case. Notifications will take effect on the next business day following that on which they are carried out.

II. to IV.

...

Non-compliance with the norms of this Law and the provisions emanating from it, whose observance corresponds to the supervision of the Bank of Mexico, will be sanctioned by it, in accordance with what is established in Article 36 Bis of the Bank of Mexico Law, for which what is established in Article 27 of that same instrument must be observed.

...

Article 84 Bis.-

...

Once the period referred to in fraction I of Article 84, and in its case the extension thereof, has elapsed, the Commission will have a period of up to sixty business days to process the evidence.

After the period for processing evidence has elapsed, the alleged offender will have five business days to formulate arguments; on the next business day following the expiration of said period, the instruction will be considered closed...

instruction and the Commission will have a term not exceeding one hundred eighty business days to issue and notify the resolution that ends the sanctioning procedure, as referred to in this article.

...

The five-year term provided for in this article shall be suspended:

I. For up to two years, when the Financial Entity:

Is not located at the address registered with the respective Authority without having submitted the corresponding change notice, or
Has indicated an incorrect address.

The aforementioned term shall resume from the date on which the Authority becomes aware of the current address.

II. When the Financial Entity has contested any of the acts related to the process of imposing the sanction. Such suspension shall be computed from the date of filing the defense mechanism until the date on which the corresponding final resolution is issued.

Article 87.-

...

Additionally, against the sanctions imposed by the Bank of Mexico for violations of the provisions included in this Law, the reconsideration appeal shall proceed, under the same terms and conditions provided for in Articles 64, 65, and 66 of the Bank of Mexico Law.

Ninth Article.- Articles 37, current paragraphs second and third; 46 Bis 14, paragraphs second and current third; 60, current paragraph second; 131, fraction I; are reformed; and Articles 37, with paragraphs second, third, and fourth, shifting the subsequent ones; 46 Bis 14, with paragraphs third and fourth, shifting the subsequent ones; 60, with paragraphs second, third, and fourth, shifting the subsequent ones; 129, with paragraphs third and fourth, shifting the subsequent ones, of the Popular Savings and Credit Society Law are added, to read as follows:

Article 37.- ...

The Commission shall grant the right to a hearing to the interested Popular Financial Society, in order that within a term of ten business days, counted from the business day following the one on which the corresponding notification takes effect, it may manifest in writing what is convenient for its interest and offer evidence. The Commission, at the request of a party, may extend once the term referred to in this fraction, for up to the same duration, considering the particular circumstances of the case. Notifications shall take effect on the business day following the one on which they are carried out.

Once the term referred to in the previous paragraph, and in its case the extension thereof, has concluded, the Commission shall have a term of up to sixty business days for the review of evidence. Once the evidence admitted to the alleged infringer has been reviewed, the Commission shall notify the opening of a five-business-day period to formulate arguments. The Commission may carry out such notification by posting or by any other means it determines.

On the business day following the expiration of the term to formulate arguments, the instruction shall be considered closed, and the Commission shall have a term not exceeding one hundred eighty business days to issue and notify the resolution that ends the sanctioning procedure and impose, if applicable, the sanctions that proceed according to law.

The declaration of revocation shall be published in the Official Journal of the Federation and in two newspapers of wide circulation in the geographic area where it operated, and must be registered in the Public Commerce Registry corresponding to the social address of the Popular Financial Society in question, for which the Registry shall only require prior notification by the Commission.

The revocation shall incapacitate the Popular Financial Society in question from carrying out its operations from the date on which it is notified, and shall place it in a state of dissolution and liquidation without the need for the agreement of the shareholders' assembly. In any case, the position of liquidator must fall upon one of the persons referred to in fraction IV of Article 96 of this Law.

...

Article 46 Bis 14.-

...

I. to III.

...

The Commission must make known to the Society in question, prior to ordering its dissolution and liquidation, the occurrence of any of the circumstances indicated in the previous fractions, in order that said Society, within an irrevocable term of sixty business days following the notification of the corresponding document, may manifest what is convenient for its rights and offer evidence.

Once the evidence admitted to the alleged infringer has been reviewed, the Commission shall notify the opening of a five-business-day period to formulate arguments. The Commission may carry out such notification by posting or by any other means it determines.

On the business day following the expiration of the term to formulate arguments, the instruction shall be considered closed, and the respective Commission shall have a term not exceeding one hundred eighty business days to issue and notify the corresponding resolution, and as long as the detected non-compliances persist, the Commission must issue the order of dissolution and liquidation duly founded and motivated.

The order issued by the Commission shall incapacitate the Community Financial Society in question from carrying out its operations from the date on which it is notified, and shall place it in a state of dissolution and liquidation, without the need for the agreement of the Shareholders' Assembly. Such order of dissolution and liquidation must be registered in the Public Commerce Registry corresponding to the social address of the Community Financial Society in question, for which the Registry shall only require prior notification by the Commission. In any case, the position of liquidator must fall upon one of the persons referred to in fraction IV of Article 96 of this Law.

...

Article 60.-

...

The Commission shall grant the right to a hearing to the interested Federation, in order that within a term of ten business days, counted from the business day following the one on which the corresponding notification takes effect, it may manifest in writing what is convenient for its interest and offer evidence. The Commission, at the request of a party, may extend once the term referred to in this fraction, for up to the same duration, considering the particular circumstances of the case. Notifications shall take effect on the business day following the one on which they are carried out.

Once the term referred to in the previous paragraph, and in its case the extension thereof, has concluded, the Commission shall have a term of up to sixty business days for the review of evidence. Once the evidence has been reviewed, the Commission shall notify the Federation of the opening of a five-business-day period to formulate arguments. The Commission may carry out such notification by posting or by any other means it determines.

The declarations of revocation shall be published in the Official Journal of the Federation and must be registered in the Public Commerce Registry corresponding to the social address of the Federation in question, for which the Registry shall only require prior notification by the Commission. The revocation shall incapacitate the Federation from carrying out its operations from the date on which it is notified, and shall place it in a state of dissolution and liquidation without the need for the agreement of the shareholders' assembly.

Article 129.-

...

Once the term referred to in fraction I of Article 131, and in its case the extension thereof, has concluded, the Commission shall have a term of up to sixty business days for the review of evidence. Once the evidence has been reviewed, the Commission shall notify the opening of a five-business-day period to formulate arguments. The respective Commission may carry out such notification by posting or by any other means it determines.

...

Article 131.- ...

I. A hearing shall be granted to the alleged infringer, who, within a term of ten business days counted from the business day following the one on which the corresponding notification takes effect, must manifest in writing what is convenient for its interest and offer evidence. The Commission, at the request of a party, may extend once the term referred to in this fraction, for up to the same duration, for which it will consider the particular circumstances of the case. The notification shall take effect on the business day following the one on which it is carried out;

II. to IV.

...

Tenth Article.- Articles 83, paragraphs second and current third; 84, current paragraph second; and 99, fraction I; are reformed; and Articles 83, with paragraphs third and fourth, shifting the subsequent ones; 84, with paragraphs second, third, fourth, and fifth, shifting the subsequent ones; 97, with paragraphs third, fourth, and fifth, shifting the subsequent one, of the Law to Regulate the Activities of Savings and Loan Cooperative Societies are added, to read as follows:

Article 83.-

...

The Commission must notify the Society in question, prior to ordering its dissolution and liquidation, the occurrence of any of the circumstances indicated in the previous fractions, in order that said Society, within a term of ten business days, counted from the business day following the one on which the corresponding notification takes effect, may manifest in writing what is convenient for its interest and offer evidence. The Commission, at the request of a party, may extend once the term referred to in this fraction, for up to the same duration, considering the particular circumstances of the case. Notifications shall take effect on the business day following the one on which they are carried out.

Once the term referred to in the previous paragraph, and in its case the extension thereof, has concluded, the Commission shall have a term of up to sixty business days for the review of evidence. Once the admitted evidence has been reviewed, the Commission shall notify the Society of the opening of a five-business-day period to formulate arguments. The Commission may carry out such notification by posting or by any other means it determines.

On the business day following the expiration of the term to formulate arguments, the instruction shall be considered closed, and the Commission shall have a term not exceeding one hundred eighty business days to issue and notify the corresponding resolution, and as long as the detected non-compliances persist, the Commission must issue the order of dissolution and liquidation duly founded and motivated, and verifying the essential formalities.

The order issued by the Commission shall incapacitate the Savings and Loan Cooperative Society in question from carrying out its operations from the date on which it is notified, and shall place it in a state of dissolution and liquidation, without the need for the agreement of the Shareholders' Assembly. Such order of dissolution and liquidation must be registered in the Public Commerce Registry corresponding to the social address of the Savings and Loan Cooperative Society in question, for which the Registry shall only require prior notification by the Commission. In any case, the position of liquidator must fall upon one of the persons referred to in fraction IV of Article 91 of this Law.

...

Article 84.-

...

The Commission shall grant the right to a hearing to the interested society, in order that within a term of ten business days, counted from the business day following the one on which the corresponding notification takes effect, it may manifest in writing what is convenient for its interest and offer evidence. The Commission, at the request of a party, may extend once the term referred to in this fraction, for up to the same duration, considering the particular circumstances of the case. Notifications shall take effect on the business day following the one on which they are carried out.

Once the term referred to in the previous paragraph, and in its case the extension thereof, has concluded, the Commission shall have a term of up to sixty business days for the review of evidence.

After the term for the review of evidence has passed, the Commission shall notify the Cooperative Society of the opening of a five-business-day period to formulate arguments. The respective Commission may carry out such notification by posting or by any other means it determines.

The declaration of revocation shall be published in the Official Journal of the Federation and in 2 newspapers of wide circulation in the geographic area where it operated, and must be registered in the Public Commerce Registry corresponding to the social address of the Savings and Loan Cooperative Society in question, for which the Registry shall only require prior notification by the Commission.

...

Article 97.- ...

...

Once the term referred to in fraction I of Article 99, and in its case the extension thereof, has concluded, the Commission shall have a term of up to sixty business days for the review of evidence.

After the term for the review of evidence has passed, the Commission shall notify the opening of a five-business-day period to formulate arguments. The respective Commission may carry out such notification by posting or by any other means it determines.

...

Article 99.- ...

II. to IV.

...

Eleventh Article.- Articles 99; and 110, fraction I; are reformed; and Article 108, with paragraphs third and fourth, shifting the subsequent one, of the Credit Unions Law is added, to read as follows:

Article 99.- The Commission shall grant the right to a hearing referred to in Article 97 to the interested society, in order that, within a term of ten business days, counted from the business day following the one on which the corresponding notification takes effect, it may manifest in writing what is convenient for its interest and offer evidence. The Commission, at the request of a party, may extend once the term referred to in this fraction, for up to the same duration, considering the particular circumstances of the case. Notifications shall take effect on the business day following the one on which they are carried out.

Once the term referred to in the previous paragraph, and in its case the extension thereof, has concluded, the Commission shall have a term of up to sixty business days for the review of evidence.

After the term for the review of evidence has passed, the Commission shall notify the Credit Union in question of the opening of a five-business-day period to formulate arguments. The respective Commission may carry out such notification by posting or by any other means it determines.

The declaration of revocation shall be published in the Official Journal of the Federation and must be registered in the Public Commerce Registry corresponding to the social address of the Credit Union in question, for which the Registry shall only require prior notification by the Commission; likewise, it shall place the society in a state of dissolution and liquidation, without the need for the agreement of the shareholders' assembly, this last point except for unions that transform under the coverage of Article 98 Bis of this Law. The revocation shall incapacitate the society from carrying out the operations referred to in Article 40 of this Law, from the date on which it is notified.

Article 108.-

...

Once the term referred to in fraction I of Article 110, and in its case the extension thereof, has concluded, the Commission shall have a term of up to sixty business days for the review of evidence. After the term for the review of evidence has passed, the Commission shall notify the alleged infringer of the opening of a five-business-day period to formulate arguments. The respective Commission may carry out such notification by posting or by any other means it determines.

On the business day following the expiration of the term to formulate arguments, the instruction shall be considered closed, and the Commission shall have a term not exceeding one hundred eighty business days to issue and notify the resolution that ends the administrative sanctioning procedures referred to in this Law.

...

Article 110.- ...

I. A hearing shall be granted to the alleged infringer, who, within a term of ten business days counted from the business day following the one on which the corresponding notification takes effect, must manifest in writing what is convenient for its interest and offer evidence. The Commission, at the request of a party, may extend once the term referred to in this fraction, for up to the same duration, for which it will consider the particular circumstances of the case. Notifications shall take effect on the business day following the one on which they are carried out;

II. to IV.

...

Twelfth Article.- Articles 69, paragraphs first and current second; 98, fraction I; and 106; are reformed; Articles 69, with paragraphs second, third, fourth, and fifth, shifting the subsequent one; 92, with paragraphs second, third, fourth, and fifth; and 98, with paragraphs second and third; are added; and Article 98, current second paragraph, of the Law to Regulate FinTech Institutions is repealed, to read as follows:

Article 69.- The CNBV, after hearing the affected FinTech Institution, and with the approval of the Interinstitutional Committee, may declare the revocation of the authorization granted to said FinTech Institution, in the following cases:

I. to IX.

...

The Commission shall grant the right to a hearing to the interested FinTech Institution, in order that, within a term of ten business days, counted from the business day following the one on which the corresponding notification takes effect, it may manifest in writing what is convenient for its interest and offer evidence. The Commission, at the request of a party, may extend once the term referred to in this paragraph, for up to the same duration, considering the particular circumstances of the case. Notifications shall take effect on the business day following the one on which they are carried out.

Once the term referred to in the previous paragraph and, in its case, the extension thereof, has concluded, the Commission shall have a term of up to sixty business days for the review of evidence. Once the evidence has been reviewed, the Commission shall notify the FinTech Institution of the opening of a five-business-day period to formulate arguments. The Commission may carry out such notification by posting or by any other means it determines.

On the business day following the expiration of the term to formulate arguments, the instruction shall be considered closed, and the respective Commission shall have a term not exceeding one hundred eighty business days to obtain the approval of the Interinstitutional Committee and issue and notify the resolution that ends the administrative revocation procedures referred to in this article.

The revocation shall incapacitate the FinTech Institution from carrying out new Operations from the date on which the corresponding resolution is notified, and except for the case established in fraction IX of this article, shall place the society in a state of dissolution and liquidation, without the need for the agreement of the shareholders' assembly.

Article 92.-

...

The Supervisory Commissions shall grant the right to a hearing provided for in this article to the interested society, in order that within a term of ten business days, counted from the business day following the one on which the corresponding notification takes effect, it may manifest in writing what is convenient for its interest and offer evidence. At the request of a party, said Authorities may extend once the term referred to in this paragraph, for up to the same duration, considering the particular circumstances of the case. Notifications shall take effect on the business day following the one on which they are carried out.

Once the term referred to in the previous paragraph, and in its case the extension thereof, has concluded, the Supervisory Commissions shall have a term of up to sixty business days for the review of evidence.

After the term for the review of evidence has passed, the Supervisory Commission shall notify the FinTech Institution in question of the opening of a five-business-day period to formulate arguments. The respective Commission may carry out such notification by posting or by any other means it determines.

On the business day following the expiration of the term to formulate arguments, the instruction shall be considered closed, and the Supervisory Commission shall have a term not exceeding one hundred eighty business days to issue and notify the resolution that ends the administrative revocation procedures referred to in this article.

The revocation of the temporary authorizations granted in accordance with Article 80 of this Law must be noted in the Registry provided for in Article 83, and shall incapacitate the society whose authorization was revoked from continuing to carry out the activities or operations whose realization requires a

authorization, registration, or concession in accordance with this Law or by another financial law, from the date on

which the corresponding resolution is notified.

Article 98.- ...

I. A hearing shall be granted to the alleged offender, who within a period of ten business days counted from the

business day following that on which the corresponding notification takes effect, must manifest in writing

what is convenient for their interest and offer evidence. The Supervisory Commissions or the Bank of Mexico, at

the request of a party, may extend the period referred to in this subsection on a single occasion, for the same

time, for which it will consider the particular circumstances of the case. Notifications shall take effect on the

next business day after they are carried out;

II. to IV.

...(Repealed)

Once the period referred to in subsection I of this article and, if applicable, its extension has concluded, the

Supervisory Commissions or the Bank of Mexico, as applicable, will have a period of up to sixty

business days to review the evidence.

Once the evidence admitted to the alleged offender has been reviewed, the corresponding authority from those

indicated in the preceding paragraph shall notify the same of the opening of the five business day period to formulate

allegations. The respective Authority may carry out such notification by posting or by any other means, in

the cases that it determines. On the next business day after the expiration of the period to formulate allegations, the

instruction shall be considered closed and the Supervisory Commissions or the Bank of Mexico, as applicable,

shall have a period not exceeding one hundred eighty business days to issue and notify the resolution that puts

an end to the sanctioning procedure, imposing, if applicable, the sanctions that are procedurally correct in accordance with the law.

Article 106.- The powers of the Supervisory Commissions and the Bank of Mexico to impose the

administrative sanctions provided for in this Law, as well as in the provisions emanating from it, shall expire in a period of five years, counted from the next business day after that on which

the conduct was carried out or the infringement condition was met. In the case of continuous conduct, the period

referred to shall be calculated from when the infringing conduct ceased. In the case of repeated conduct, the

period referred to shall run from when the last conduct was consummated.

The expiration referred to in the preceding paragraph shall be interrupted from the notification to the alleged offender

of the official letter by which the right to a hearing is granted.

The expiration period indicated in the immediately preceding paragraph shall be interrupted upon the initiation of the

proceedings related thereto. It shall be understood that the procedure in question has started from the

notification to the alleged offender of the official letter by which the right to a hearing is granted.

Likewise, the five-year period provided for in this article shall be suspended:

I. For up to two years, when the Financial Entity:

is not located at the registered address with the

Respective Authority without having presented the corresponding change notice, or has indicated an

incorrect address.

The aforementioned period shall resume from the date on which the Authority has knowledge of the current address.

II. When the Financial Entity has contested any of the acts related to the process of

imposition of the sanction. Such suspension shall be calculated from the date of filing the means of

defense and until the date on which the corresponding final resolution is issued.

Thirteenth Article.- Articles 334, first and current second paragraphs; 335, second paragraph;

364, first and current second paragraphs; 478, third paragraph; are reformed; and Articles 334, with

the second and third paragraphs, subsequent ones being renumbered; 335, with the third and fourth paragraphs,

subsequent ones being renumbered; 364, with a second paragraph, subsequent ones being renumbered; 388, with a

second paragraph; 478, with a fourth paragraph, subsequent ones being renumbered, of the Law of Insurance and Surety Bond Institutions, to read as follows:

ARTICLE 334.- When the Commission has knowledge that an Institution has incurred in any

of the conditions provided for in Articles 332 or 333 of this Law, with the exception of subsections XI

of Article 332 and IX of Article 333, as applicable, it shall notify such situation to the Institution in question so that, within a period of ten business days counted from the next business day after that on which the

corresponding notification takes effect, the Institution itself manifests in writing what is convenient for its rights,

offers evidence that, in its opinion, proves that the facts or omissions indicated in the

notification have been remedied. At the request of a party, the Commission may extend the period referred to in this

paragraph on a single occasion, for the same time, for which it will consider the particular circumstances of the case and notify

the Institution of the corresponding resolution. Notifications shall take effect on the next business day after that

on which they are carried out.

Once the period indicated in the preceding paragraph and, if applicable, its extension has concluded, the Commission will have

a period of up to sixty business days to review the evidence.

Once the period for reviewing evidence has passed, the Commission shall notify the Institution in question of the opening of the five business day period to formulate

allegations. The Commission may carry out such notification by posting or by any other means, which it determines. On the next business day after the expiration of the

period to formulate allegations, the instruction shall be considered closed and the Commission will have a period not

exceeding one hundred eighty business days to issue and notify the resolution that puts an end to the administrative

revocation procedure referred to in this article.

The declaration of revocation shall be published in the Official Gazette of the Federation and in two newspapers of

wide circulation in the country, shall be registered in the Public Commerce Registry corresponding to the

registered office of the Institution in question, for which the registration shall only require prior

notification by the Commission; it shall incapacitate the Institution from issuing any insurance or surety bond, from the date on which it is notified to it; and it shall put it in a state of dissolution and liquidation, without the need for the agreement of the shareholders' meeting, in accordance with what is provided in Title Twelfth of this instrument.

...

ARTICLE 335.-

...

In the cases provided for in subsections II to IV of this article, the Commission shall notify the Institution

in question of such situation so that, within a period of ten business days counted from the day after

that on which the corresponding notification takes effect, the Institution manifests in writing what is convenient for its rights

and offers evidence that, in its opinion, proves that the facts or omissions

indicated in the notification have been remedied. At the request of a party, the Commission may extend the period on a single occasion,

for the same time, for which it will consider the particular circumstances

of the case and notify the Institution of the corresponding resolution. Notifications shall take effect on the next

business day after that on which they are carried out.

Once the period indicated in the preceding paragraph and, if applicable, its extension has concluded, the Commission will have

a period of up to sixty business days to review the evidence. Once the period for

reviewing evidence has passed, the Commission shall notify the Institution in question of the opening of the five

business day period to formulate allegations. The Commission may carry out such notification by posting or by any other

means, which it determines.

On the next business day after the expiration of the period to formulate allegations, the instruction shall be considered closed and

the Commission will have a period not exceeding one hundred eighty business days to issue and notify the resolution

that puts an end to the administrative procedure referred to in this article.

...

ARTICLE 364.- When the Commission has knowledge that a Mutual Society has incurred in

any of the conditions provided for in Article 363 of this Law, with the exception of subsection VIII of the

cited article, it shall notify such situation to the society so that, within a period of ten business days counted

from the day after that on which the corresponding notification takes effect, the society itself manifests

in writing what is convenient for its rights, offers evidence and presents the elements that, in its opinion, prove

that the facts or omissions indicated in the notification have been remedied, the Commission being required to resolve what is appropriate. At the request of a party, the Commission may extend the period referred to in this

paragraph on a single occasion, for the same time, for which it will consider the particular circumstances of the case and notify

the Institution of the corresponding resolution. Notifications shall take effect on the next business day after that

on which they are carried out.

Once the period indicated in the preceding paragraph and, if applicable, its extension has concluded, the Commission will have

a period of up to sixty business days to review the evidence and elements provided.

Once the period for reviewing evidence has passed, the Commission shall notify the Mutual Society in question of the opening of the five business day period to formulate

allegations. The Commission may carry out such notification by posting or by any other means, which it determines. On the next business day after the expiration of the

period to formulate allegations, the instruction shall be considered closed and the Commission will have a period not

exceeding one hundred eighty business days to issue and notify the resolution that puts an end to the administrative

procedure referred to in this article.

The declaration of revocation shall be published in the Official Gazette of the Federation and in two newspapers of

wide circulation in the country, shall be registered in the Public Commerce Registry corresponding to the

registered office of the Institution in question, for which the Registry shall only require prior

notification by the Commission; it shall incapacitate the Society from issuing any insurance, from the date on which

it is notified to it; and it shall put it in a state of dissolution and liquidation, without the need for the agreement of the

assembly of mutualized members, in accordance with what is provided in Title Twelfth of this Law.

...

ARTICLE 388.-

...

The supervision acts carried out by the Commission must be concluded within a period of twelve

months counted from the date on which the Institutions and Mutual Societies, as well as the other

persons and entities regulated by this Law and the respective regulations, are notified of the

start of such acts.

ARTICLE 478.-

...

To hear the alleged offender previously, the Commission must grant them a period of ten business days,

counted from the next business day after that on which the corresponding notification takes effect, for the

interested party to manifest what is convenient for their rights, offering or accompanying, if applicable, the evidence

they consider appropriate. At the request of a party, the Commission may extend the period on a single occasion,

for the same time, for which it will consider the particular circumstances

of the case and notify the Institution of the corresponding resolution. Notifications shall take effect on the next

business day after that on which they are carried out.

Once the period indicated in the preceding paragraph and, if applicable, its extension has concluded, the Commission shall notify

the alleged offender of the opening of the five business day period to formulate allegations. The Commission may

carry out such notification by posting or by any other means, which it determines. On the next business day after the

expiration of the period to formulate allegations, the instruction shall be considered closed and the Commission will have

a period not exceeding one hundred eighty business days to issue and notify the resolution that puts an end to the

administrative procedure referred to in this article.

...

Fourteenth Article.- Articles 55, subsections II and III; 61, paragraphs second and third;

89, first paragraph; 99, third paragraph; and 111, third paragraph; are reformed; and Articles 55, with the

subsections IV and V; 61, with the fourth, fifth and sixth paragraphs; 92, with a second paragraph, subsequent ones being renumbered; 93, with a third paragraph; 99, with the fourth paragraph, subsequent ones being renumbered, ninth,

tenth and eleventh, of the Law of Retirement Savings Systems, are added, to read as follows:

Article 55.-

...

II. Grant the interested party a period of ten business days counted from the next business day after that on

which the corresponding notification takes effect, which at the request of a party may be extended for the same period

on a single occasion for which the particular circumstances of the case will be considered;

in order to manifest what is convenient for their rights, offering or accompanying, if applicable, the evidence they consider

appropriate;

III. Once the period referred to in the preceding subsection has concluded and, if applicable, its extension, the Commission

will have a period of up to sixty business days to review the evidence;

IV. On the next business day after the conclusion of the period for reviewing evidence, the Commission shall notify the

interested party in question of the opening of the five business day period to formulate allegations. The Commission

may carry out such notification by posting or by any other means, which it determines, and

V. On the next business day after the expiration of the period to formulate allegations, the instruction shall be considered closed

and the Commission will have a period not exceeding one hundred eighty business days to issue and notify the

resolution that puts an end to the administrative procedure referred to in this article. The resolution

corresponding shall not admit any administrative appeal.

Article 61.- ...

The Ministry of Finance and Public Credit may revoke concessions in case any of the

conditions indicated in subsections II, VIII, XI, XII, XIII and XV above are met.

In other cases provided for in this article, for the revocation to be procedurally correct, it is required that

the concessionaire has met them at least five times.

To grant the right to a hearing referred to in this article, the Ministry of Finance and Public Credit

must grant a period of ten business days, counted from the next business day after that on which

the corresponding notification takes effect, for the concessionaire to manifest what is convenient for their rights

and offer the evidence they consider appropriate. This period may be extended on a single

occasion, for the same time, for which the particular circumstances of the case will be considered and

the Institution shall be notified of the corresponding resolution. Notifications shall take effect on the next business day after

that on which they are carried out.

Once the period indicated in the preceding paragraph and, if applicable, its extension has concluded, the Ministry will have

a period of up to sixty business days to review the evidence. Once the period for

reviewing evidence has passed, the Ministry of Finance and Public Credit shall notify the interested party in question of the

opening of the five business day period to formulate allegations. The Ministry may carry out such

notification by posting or by any other means, which it determines.

On the next business day after the expiration of the period to formulate allegations, the instruction shall be considered closed and

the Ministry of Finance and Public Credit will have a period not exceeding one hundred eighty business days to

issue and notify the resolution that puts an end to the administrative revocation procedure referred to in the

current article.

Article 89.- The supervision carried out by the Commission shall be subject to the Regulations of this Law, and

shall include the procedures corresponding to the exercise of the powers of inspection, supervision,

prevention and correction that are conferred on the Commission in this Law, as well as in other laws and provisions

applicable. In the case of credit institutions, supervision shall be carried out exclusively with respect to

the operations they carry out in relation to the referred systems.

...

Article 92.-

...

The inspection procedures carried out by the Commission must be concluded within a period of

twelve months counted from the date on which the Participant in the Retirement Savings Systems is notified of the

visit order.

...

Article 93.-

...

The supervision procedures carried out by the Commission must be concluded within a period of

twelve months counted from the date on which the Participant in the Retirement Savings Systems is notified of the

start of such acts.

Article 99.-

...

To impose the corresponding fine, the Commission must hear the interested party previously. For this purpose,

the Commission shall initiate the sanctioning procedure, informing the interested party of the causes for which it

considers that there are irregularities, granting a period of ten business days, counted from the next business day

after that on which the corresponding notification takes effect, which, at the request of a party, may

be extended on a single occasion for the same period considering the particular conditions of the case; for the

interested party to manifest what is convenient for their rights offering or accompanying, if applicable, the evidence that

they consider appropriate.

Once the period indicated in the preceding paragraph and, if applicable, its extension has concluded, the Commission shall notify

the interested party of the opening of the five business day period to formulate allegations. The Commission may carry out

such notification by posting or by any other means, which it determines. On the next business day after the expiration

of the period to formulate allegations, the instruction shall be considered closed and the Commission will have a period not

exceeding one hundred eighty business days to issue and notify the resolution that puts an end to the

sanctioning procedure referred to in this article.

...

The power of the Commission and the Ministry of Finance and Public Credit to impose administrative sanctions

indicated in this Law shall expire in a period of five years, counted from the next

business day after that on which the conduct was carried out or the infringement condition was met. For the case of

continuous conduct, the period referred to shall be calculated from the moment it ceases and in the case of

repeated conduct, it shall be counted from the consummation of the last conduct.

The expiration referred to in the preceding paragraph shall be interrupted from the notification to the alleged offender

of the official letter by which the supervision powers are initiated.

Likewise, the five-year period provided for in this article shall be suspended:

I. For up to two years, when the Participant in the Retirement Savings Systems:

is not located at the

registered address with the Respective Authority without having presented the corresponding change notice,

or has indicated an incorrect address.

The aforementioned period shall resume from the date on which the Authority has knowledge of the current address.

II. When the Participant in the Retirement Savings Systems has contested any of the

acts related to the process of imposition of the sanction. Such suspension shall be calculated from the

date of filing the means of defense and until the date on which the corresponding final resolution

is issued.

Article 111.-

...

For the purposes of supervision procedures, notifications made by means other than

electronic mail, the revocation appeal, the sanctions, the procedure for the execution of the fines

imposed, the reduction in payment and the guarantee that must be provided by the persons and societies that

challenge such fines, shall be governed by what is provided by this Law, its Regulations and subsidiarily by what is provided

in the Federal Tax Code and in what is not provided for by this, shall be governed by what is provided

in the Federal Code of Civil Procedures.

Transitory Provisions

First.- This Decree shall enter into force on the day following its publication in the Official Gazette of

the Federation.

Second.- Administrative sanctioning procedures that, on the date of entry into force of the present

Decree, have been initiated must continue until their conclusion, in accordance with the procedure in force at the

moment of its notification to the alleged offender.

Third.- Resolutions that put an end to administrative revocation procedures that have

been initiated through the notification of the act through which the right to a hearing is granted, before

the entry into force of this Decree, must continue until their conclusion, in accordance with the

procedure in force at the moment of its notification to the corresponding institution or entity.

Fourth.- The processing and resolution of sanctioning procedures that, on the date of entry into force of the

present Decree, the Bank of Mexico has initiated shall be governed by what is provided in the

Supervision Rules, Self-Correction Programs and Sanctioning Procedure, in force on the same date of

entry into force of this Decree.

Mexico City, December 13, 2023.- Dip. Marcela Guerra Castillo, President.- Sen. Ana

Lilia Rivera Rivera, President.- Dip. Diana Estefanía Gutiérrez Valtierra, Secretary.- Sen. Verónica

Noemí Camino Farjat, Secretary.- Signatures.

In compliance with what is provided for in subsection I of Article 89 of the Political Constitution of the United

Mexican States, and for its due publication and observance, I issue this Decree at the Residence

of the Federal Executive Power, in Mexico City, on January 17, 2024.- Andrés Manuel López

Obrador.- Signature.- The Secretary of the Interior, Luisa María Alcalde Luján.- Signature.

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