Regulatory Alerts2019-12-03
Added · Updated
Frequently Asked Questions: Financial Technology Institutions
The CNBV establishes the framework for Temporary Authorizations allowing non-supervised entities to test Innovative Business Models involving reserved financial activities in a controlled environment. These authorizations are valid for a maximum of two years, extendable by one year, and require limited client numbers, consumer protection mechanisms, and risk mitigation measures. Supervised entities may also utilize this sandbox for up to one year to test models currently prohibited by existing regulations. Upon completion, entities must either obtain a definitive license or execute a defined exit plan.