Regulatory Alerts2019-03-11 | DOF 5552465Added
General Provisions Applicable to Novel Models Referenced in the Law for Regulating Financial Technology Institutions
The Ministry of Finance and Public Credit establishes general provisions for the authorization, operation, and supervision of Novel Models under the Financial Technology Institutions Law. Applicants must submit detailed documentation regarding corporate structure, ownership, organizational charts, and technological infrastructure to obtain temporary authorizations. The regulations define specific criteria for risk mitigation, client protection, and exit procedures, while mandating the creation of a public registry for authorized entities and specifying additional reporting requirements.