General Provisions Applicable to Novel Models Referenced in the Law for Regulating Financial Technology Institutions

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DOF: 11/03/2019

GENERAL PROVISIONS applicable to novel models referenced in the Law for Regulating Financial Technology Institutions

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

Finance and Public Credit.

GENERAL PROVISIONS APPLICABLE TO NOVEL MODELS REFERENCED IN THE LAW FOR REGULATING FINANCIAL TECHNOLOGY INSTITUTIONS

CARLOS MANUEL URZÚA MACÍAS, Secretary of Finance and Public Credit, based on the provisions of

articles 31, fraction XXXII of the Organic Law of the Federal Public Administration; 80, 82

fraction VI, 83 last paragraph and 89 fraction IV and last paragraph, of the Law for Regulating Financial Technology Institutions; in exercise of the powers conferred upon me by article 6o., fraction XXXIV, of the

Internal Regulations of the Ministry of Finance and Public Credit, and

CONSIDERING

That on March 9, 2018, the "Decree establishing the Law for Regulating Financial Technology Institutions and reforming and adding various provisions of the Law of Credit Institutions, the Securities Market Law, the General Law of Organizations and Auxiliary Credit Activities, the Law for Transparency and Ordering of Financial Services, the Law for Regulating Credit Information Societies, the Law for Protection and Defense of Users of Financial Services, the Law for Regulating Financial Groups, the Law of the National Banking and Securities Commission, and the Federal Law for the Prevention and Identification of Operations with Resources of Illicit Origin" was published in the Official Gazette of the Federation;

That the Law for Regulating Financial Technology Institutions, identified as the Fintech Law, considers a "Novel Model" to be one that, for the provision of financial services, uses tools or technological means with modalities different from those existing in the market at the time the temporary authorization is granted under said Law;

That the Fintech Law empowers, among others, the Ministry of Finance and Public Credit, in its capacity as the Financial Authority, to establish through general provisions criteria and additional conditions to those already provided for in article 82, which must be evaluated for the granting of temporary authorizations to legal entities that intend to carry out any activity whose realization requires an authorization, registration, or concession that must be granted in accordance with the Fintech Law or another financial law, through the figure of Novel Models;

That within the framework of the temporary authorizations in the matter of Novel Models that the Ministry of Finance and Public Credit will be responsible for resolving, this Federal Department is competent regarding the granting of the authorizations, concessions, or registrations required by the various financial laws for the constitution, organization, operation, and functioning, as well as for the provision of services, as the case may be, of credit information societies; general warehouses; exchange houses; stock exchanges, institutions for the deposit of securities and central securities counterparties; derivatives exchanges and clearing houses for derivatives exchanges; holding and sub-holding societies of financial groups; companies operating the National SAR Database; among others.

That the aforementioned Fintech Law also empowers the Ministry of Finance and Public Credit, in its capacity as the Financial Authority, to establish through general provisions, the bases for the organization and functioning of the registry in which it must publish the temporary authorizations granted to carry out activities or operations through Novel Models, and to make the corresponding additional annotations;

That in addition to the aforementioned powers, the Ministry of Finance and Public Credit, in its capacity as the Financial Authority, must determine through general provisions the additional information that periodic and final reports prepared and delivered to the Financial Authorities by persons who have obtained a temporary authorization to carry out activities or operations through Novel Models during the validity of said authorization must contain, as well as their frequency; and

That in accordance with article 78 of the General Law for Regulatory Improvement and with the aim of reducing the compliance cost of these provisions, the National Commission for Regulatory Improvement, through letter no. COFEME/19/0209 dated January 22, 2019, issued the Final Opinion of the draft project titled "Resolution that reforms, adds, and repeals various provisions of the General Provisions referred to in article 226 bis of the Securities Market Law, applicable to investment advisors" by virtue of which it authorizes the Ministry of Finance and Public Credit to continue with the necessary formalities for its publication in the Official Gazette of the Federation. Among the actions contemplated in the aforementioned draft project, it was established that investment advisors will not have the obligation to integrate the identification file of those beneficiaries who are not individualized in the contract for those trusts where there is securities intermediation, in which case the obligation will fall on the financial entity that carries out said intermediation;

Has resolved to issue the following:

GENERAL PROVISIONS APPLICABLE TO NOVEL MODELS REFERENCED IN THE LAW FOR REGULATING FINANCIAL TECHNOLOGY INSTITUTIONS

Chapter One

General Provisions

Article 1.- For the purposes of these provisions, in addition to the definitions provided by the Law, the following shall be understood, in singular or plural:

I.

Annotation, as the registry act by which the Ministry records in the Registry:

a)

Any modification to the temporary authorizations and/or to the registered data.

b)

Extension of the validity of the temporary authorizations.

c)

Revocation of the temporary authorizations.

d)

Cancellation of the Registration in the Registry.

II.

Operational Contingency, as any event that hinders, limits, or prevents an Authorized Society from providing its services or carrying out those processes that could have an impact on its Clients.

III.

Financial Entity, for the purposes of these Provisions, as credit information societies; general warehouses; exchange houses; stock exchanges, institutions for the deposit of securities and central securities counterparties; derivatives exchanges and clearing houses for derivatives exchanges; holding and sub-holding societies of financial groups; companies operating the National SAR Database and any other that requires obtaining authorization, registration, or concession from the Ministry for its constitution, organization, operation, and functioning, as well as for the provision of its services.

IV.

Registry Folio, as the consecutive identification number of Registration in the Registry, corresponding to each Authorized Society.

V.

Information Security Incident, as that event that the Authorized Society evaluates, in accordance with its management processes, that may:

a)

Endanger the confidentiality, integrity, or availability of a component or the entirety of the Technological Infrastructure used by an Authorized Society or of the information that such infrastructure processes, stores, or transmits.

b)

Represent a loss, extraction, alteration, or misplacement of information.

c)

Constitute a violation of information security policies and procedures.

d)

Represent the materialization of a loss due to damages, interruption, alteration, or failures derived from the use of hardware, software, systems, applications, networks, and any other channel of information transmission in the provision of services, in Technological Infrastructures interconnected that allow interactions between people, processes, data, and components of information and telecommunications technologies and that are caused or derived, among others, in unauthorized access, misuse of information or systems, fraud, theft of information, or in interruption of services, which puts at risk the confidentiality, integrity, and availability of information.

e)

Vulnerable the systems or components of the Technological Infrastructure with an adverse effect on the Authorized Society, its clients, third parties, suppliers, or counterparties, commonly known as cyber-attacks.

VI.

Registration, as the registry act carried out by the Ministry, through which the temporary authorization granted to the Authorized Society is made public and the information indicated in article 5, fractions I to VI, is incorporated, where applicable.

VII.

Law, as the Law for Regulating Financial Technology Institutions.

VIII.

Registry, as the registry of Authorized Societies to operate Novel Models referenced in the Law, whose information is public.

IX.

Authorized Societies, as legal entities constituted in accordance with Mexican commercial legislation and distinct from Financial Entities, as well as Financial Entities, that obtain temporary authorization from the Ministry to operate with Novel Models.

Chapter Two

On the additional information to obtain temporary authorization

Article 2.- Interested parties seeking the temporary authorization referred to in article 83 of the Law must accompany their application with the following additional information and documentation, where applicable:

I.

Notarized copy or certified copy of the public instrument in which the legal representation of the interested party is recorded, as well as a copy of their official identification issued by a competent authority, valid on the date of presentation, containing a photograph and signature.

II.

Draft of corporate bylaws or their modification in which, in addition to what is provided in article 83, fraction I of the Law, it is indicated in its corporate object that the activities they intend to carry out will be carried out under the temporary authorization referred to in article 80 of the same Law. In the case of legal entities already constituted at the time of the application, they must also present a certified copy of the public instrument(s) in which their constitution and current bylaws are recorded, and, if applicable, their registration data in the Public Commerce Registry, or, in the case of simplified share companies, the document containing their corporate bylaws and their registration slip in the Public Commerce Registry.

III.

Indication of the address where the potential Authorized Society will have its principal place of business, including street, avenue, or road, exterior and interior number, neighborhood or urbanization, borough, municipality, or similar political demarcation, postal code, city or town, and federal entity.

IV.

Certificate issued by the Tax Administration Service containing the Federal Taxpayer Registry with homoclave, of the interested parties and of the potential Authorized Society.

V.

In their case, trademarks, logos, or trade names that will be used when offering their services to the public.

VI.

List of persons who directly or indirectly will have a participation in the social capital of the potential Authorized Society, indicating the percentage of participation, according to the following table:

Legal Entities

Natural Persons

Trusts

Name or

Company Name

%

Name

Paternal Surname

Maternal Surname

%

Contract Number and

Name of the Trustee

%

Likewise, protest letters signed by the persons referred to in accordance with the Format as Annex A forming part of these provisions must be presented.

If there is participation of legal entities or trusts, directly or indirectly, in the social capital of the potential Authorized Society, a certified copy of the public instrument(s) or documents in which the constitution of the legal entity, the current bylaws, and the registration data in the Public Commerce Registry are recorded, or a copy of the respective trust agreement, and, if applicable, their modifying agreements, must also be attached. In the case of trusts, provide information on the natural and legal persons acting as settlors and beneficiaries, as provided in this fraction.

Additionally, they must provide the Federal Taxpayer Registry with homoclave, Unique Population Registry Key, and a copy of the official identification of the persons referred to in this fraction, issued by a competent authority, valid on the date of presentation, containing a photograph and signature.

In the case of already constituted legal entities, the relationship referred to in this fraction must be signed by a person with sufficient powers to do so.

VII.

Organizational structure of the potential Authorized Society, according to the following table:

Administrative bodies or persons

in charge of administration

Oversight body

Others (specify)

Additionally, they must provide the Federal Taxpayer Registry with homoclave, Unique Population Registry Key, and a copy of the official identification of the persons who will be part of the organizational structure of the potential Authorized Society, issued by a competent authority, valid on the date of presentation, containing a photograph and signature, as well as their curriculum vitae and the protest letter in accordance with the Format contained in Annex B of these provisions, signed by each of said persons.

VIII.

Email address, telephone number, interfaces, computer applications, or any other electronic or digital communication medium through which their Clients can communicate, and, if applicable, the address of the Internet page containing the information through which the user public can know the product to be offered or the service to be provided, location of their establishments, and other related information.

IX.

Regarding the description of the Novel Model referred to in article 83, fraction II of the Law, it must include at least the following information:

a)

The reasons and, if applicable, evidence for which it considers that the proposed solution constitutes a Novel Model with respect to those existing in the market.

b)

The business model, including the products, services, operations, or activities it intends to carry out, the target Clients, access channels, and the specific use cases that comprise the Novel Model, detailing the processes in the handling of information and, if applicable, the flows of resources, assets, or goods, as well as the interaction between the potential Authorized Society, its Clients, service providers, and any other third party. Likewise, in the event that the Novel Model implies the receipt, maintenance, or administration of resources, assets, or goods, it must indicate whether the potential Authorized Society will be responsible for safeguarding them or if the financial entity or person carrying out said custody will be responsible.

c)

Description of the Technological Infrastructure that will be used in the operation of the Novel Model, as well as the facilities in which it will be housed, specifying the function that each component of the Technological Infrastructure will perform, as well as the way in which the set of its components will be integrated.

d)

Evidence that the Novel Model is available to be put into operation immediately and the definition of each of the tests that will be carried out during the validity of the authorization, indicating the indicators and ranges that will be used for continuous review and evaluation of the development of the Novel Model.

e)

The estimated period required for the operation of the Novel Model, as well as its implementation stages, including a calendar of start and end of each of them and a justification that the duration is in accordance with the services to be provided.

X.

Regarding the legal provisions regulating the reserved activity referred to in article 83, fraction IV of the Law, they must specify each and every one of the provisions applicable to the financial entity, whose authorization, registration, or concession is sought to be obtained at the end of the validity of the authorization to operate a Novel Model in accordance with what is stated in fraction XI of this article, that hinder the development of the products or services that would be offered through the Novel Model and explain the reasons why they are considered so.

XI.

Regarding what is provided in article 83, fraction IX of the Law, it must specify the type of financial entity or subject whose regime the potential Authorized Society would intend to adopt at the end of the validity of the authorization, indicating the form, method, and deadlines by which they must meet the requirements to obtain the definitive authorization or registration within the period of validity of the temporary authorization to operate the Novel Model.

XII.

Regarding the exit procedure referred to in article 83, fraction X of the Law, the following must be described, at least:

a)

The form and means by which Clients will be notified that the Authorized Society did not obtain the definitive authorization or registration, or that the validity of the temporary authorization has concluded, as well as the procedures referred to in the following subsection b).

b)

The procedures and deadlines for returning the resources, assets, or goods held from its Clients or for formalizing their delivery to a third party authorized by the laws to receive them, as well as, if applicable, to compensate for damages and losses generated, as agreed in the contracts entered into with them.

XIII.

The statement indicating whether the operation of the Novel Model will use any standardized application programming interfaces referred to in article 76 of the Law and the general provisions emanating from said provision, and, if applicable, explain the way in which it will comply with said article.

XIV.

The information and documentation that accredits compliance with what is provided in article 3 of these provisions.

For the purposes of the provisions of this article, the following shall be considered valid official identification documents: the voter credential issued by the National Electoral Institute, the passport issued by the Ministry of Foreign Affairs, the Military Service Card, and the Professional ID. Likewise, with respect to foreign nationals, the documentation issued by the National Institute of Migration that accredits their status and legal stay in the country, or, in case they do not reside in Mexico, the passport issued by a competent authority of their country of origin, shall be considered valid personal identification documents.

The document to prove the address indicated in accordance with fraction III of this article, and, in the case of newly created societies, the Federal Taxpayer Registry of the potential Authorized Society, may be submitted after the presentation of the authorization application.

Copies of payment receipts for domestic services such as electricity supply, telephony, natural gas, property tax, or water supply rights, among others, or copies of bank statements, all of them with an age not greater than three months from their date of issuance, or a copy of the registration receipt before the Federal Taxpayer Registry, shall be considered valid documents to prove the address.

Article 3.- Authorized Societies that require modifying information and documentation other than that referred to in article 7 of these provisions, with the purpose of expanding, updating, or improving the scope of their Novel Model, will require prior authorization from the Ministry, presenting as a minimum the information and documentation that is the subject of expansion or update or that is affected by these changes, understanding that the Ministry may request additional documentation required for the proper evaluation of the application.

Chapter Three

On the additional criteria and conditions for the granting of the temporary authorization

Article 4.- Interested parties seeking the temporary authorization referred to in article 83 of the Law, in addition to the criteria and conditions provided by article 82 of the Law, must demonstrate compliance with the following:

I.

Have the necessary human, material, and monetary resources to start and maintain the operation of the Novel Model during the period of validity of the temporary authorization.

II.

That for the operation of the Novel Model, measures are in place that mitigate the risks to which Clients will be exposed regarding the handling of their resources, assets, goods, and information that they provide to the potential Authorized Society.

III.

Have the means, insurance, guarantees, or other sufficient mechanisms to compensate their Clients for damages and losses that may be caused during the period of validity of the temporary authorization.

For the granting of the authorizations provided for in this Chapter, the Ministry may request the opinion of the corresponding Supervisory Commission and, if applicable, of the Bank of Mexico, when, in accordance with the financial laws regulating the activities subject to authorization, registration, or concession that will be the subject of the Novel Model, such Financial Authorities participate in its granting.

Chapter Four

On the Registry, Registrations, and Annotations

Article 5.- The Registry shall contain the following, where applicable:

I.

Name or company name of the Authorized Society.

II.

Date of constitution and, if applicable, number of the public instrument and name of the public notary before whom the constitution and, if applicable, the modification of the bylaws of the Authorized Society were formalized, as well as registration data in the Public Commerce Registry.

III.

The information referred to in article 2, fractions III, IV, V, VI first paragraph, without specifying the percentage of participation, VII first paragraph, and VIII of these provisions.

IV.

General description of the Novel Model and the operations or activities it intends to carry out through this model.

V.

Target market or maximum number of Clients to whom the product or service in question will be offered, specifying, where applicable, the respective geographic location and the maximum amount of resources that may be received from each Client, as well as the maximum total amount that may be received during the validity of the temporary authorization.

VI.

Validity of the temporary authorization granted.

VII.

Any Annotation.

Article 6.- The Secretariat shall have a period of five business days, once it grants the temporary authorization to the Authorized Society to operate the Novel Model in question, to carry out the Registration specifying the information referred to in Article 5, fractions I to VI of these provisions.

Article 7.- Authorized Societies must notify the Secretariat of the modifications they make to the information indicated in Articles 2, fractions III, V, VI, VII and VIII and 5, fraction I of these provisions, within ten business days following the date on which they make them, presenting a copy of the documentation that accredits the change in the Registration data, or a certified copy in the case of public instruments.

Regarding the modifications referred to in fractions VI and VII of Article 2 of these provisions, Authorized Societies must present the documentation referred to in said fractions.

Article 8.- The Secretariat must carry out the Annotations derived from the modifications referred to in Articles 3 and 7 of these provisions, as well as the one related to the extension of the temporary authorization, no later than five business days following the one in which the notice referred to in the previous Article 7 was presented or the authorization or extension was granted, as applicable.

Article 9.- The Annotation related to the cancellation of the Registration in the Registry will take place in any of the following cases:

I.

Revocation of the temporary authorization in terms of Article 92 of the Law.

II.

Conclusion of the validity of the temporary authorization.

III.

Obtaining the definitive authorization, registration or concession to carry out activities that so require in accordance with the applicable financial laws.

The Secretariat must carry out the Annotation for the causes indicated in this article, within five business days following their occurrence.

Article 10.- The Registry will be maintained by assigning a Registration Folio to each Authorized Society, in which the entries related to the Registrations and Annotations will be recorded successively within the Registration Folio, in order to generate a complete chronological history of each Authorized Society, considering the precedence of the information that is modified. Regarding each entry, at least the year and month in which they are made must be included.

The Registry will be disseminated on the Secretariat's website; the entries related to the Registrations and Annotations will be made by the Administrative Unit competent to grant the temporary authorization to the Authorized Society in question.

Fifth Chapter

On Reports

Article 11.- Authorized Societies must prepare and deliver to the Secretariat the report referred to in the first paragraph of Article 89 of the Law during the first fifteen natural days of January, April, July and October of each year. Said report, in addition to what is stated in the cited article, must contain the following:

I.

If applicable, the number of operations, as well as the individual and total amount transacted, for each type of operation, at the close of the immediately preceding quarter.

II.

A list of Operational Contingencies and Information Security Incidents that, if any, have occurred at the close of the immediately preceding quarter, which includes the start date and time and their duration; the processes, systems and channels affected; number of Clients and, if applicable, affected amounts; a description of the event that was registered and the causes that motivated it; the indication of the actions implemented to resolve them and the result obtained, as well as those to prevent their recurrence.

III.

The number of claims or clarifications that, if any, their Clients have raised at the close of the immediately preceding quarter, as well as the causes of these that have been most recurrent during said period.

IV.

The report on the progress of actions taken to obtain the definitive authorization or registration at the end of the temporary authorization.

V.

The data and information that, depending on the nature of the Novel Model, the Secretariat indicates in the temporary authorization letter granted to the Authorized Society.

The same information must be contained in the final report referred to in the last paragraph of Article 89 of the Law, but with total figures of the development of the operated Novel Model. In case the definitive authorization, registration or concession has not been obtained, it will also include information regarding the implementation of the exit procedure presented when applying for the temporary authorization.

Article 12.- The Secretariat may remit to the competent Supervisory Commission the information contained in the reports for the better performance of its supervisory functions.

Article 13.- The Ministry of Finance and Public Credit shall be responsible for the interpretation for administrative purposes of these provisions and the resolution of cases not provided for in them.

TRANSITORY

FIRST.- These Provisions shall enter into force the day following their publication in the Official Gazette of the Federation.

SECOND.- The Secretariat shall have a period of one hundred twenty natural days counted from the entry into force of these Provisions to implement the Registry referred to in the last paragraph of Article 83 of the Law.

Mexico City, March 8, 2019. - The Secretary of Finance and Public Credit, Carlos Manuel Urzúa Macías. - Rubric.

ANNEX A

FORMAT OF PROTEST LETTER FOR INDIVIDUALS OR TRUSTS INTENDING TO PARTICIPATE DIRECTLY OR INDIRECTLY IN THE SHARE CAPITAL OF AN AUTHORIZED SOCIETY TO OPERATE NOVEL MODELS

A. FORMAT OF PROTEST LETTER FOR NATURAL PERSONS

Mexico City, on __________________

MINISTRY OF FINANCE AND PUBLIC CREDIT

Present,

The undersigned, (name of the person signing), by my own right and in relation to the authorization request presented before that Ministry of Finance and Public Credit for the operation of a novel model in terms of Article 80 of the Law for Regulating Financial Technology Institutions, by the society named (to be named) (___________________), in whose share capital I intend to maintain a participation, I declare under oath of truth the following:

a) That I am not disqualified from exercising commerce or from holding a job, position or commission in public service, or in the Mexican financial system.

b) That I have not been declared in civil or commercial bankruptcy, or even if I have been, this was terminated by the causes indicated in fractions I, II or V of Article 262 of the Commercial Bankruptcy Law, or in the case of civil bankruptcy, by having paid in full to creditors or having entered into an agreement with them, in terms of local laws.

c) That I have not been sentenced for property crimes, even in other countries.

d) That I am not or have not been subject to criminal proceedings or investigations, even in other countries, for intentional crimes punishable with corporal penalty greater than one year of imprisonment, and that, in case I have been, this concluded with an acquittal.

e) That I have not been sanctioned, through a firm and definitive resolution, by the National Banking and Securities Commission for violations of national or foreign financial laws, or before other Mexican supervisory and regulatory institutions of the financial system or of other countries.

f) That I am up to date with my credit obligations of any kind, which I accredit with my special credit report in terms of the Law for Regulating Credit Information Societies, with an issuance date not older than three months prior to the date of this document.

I also declare that I do not have nor have had control, nor do I exercise nor have I exercised command power over an issuing society that has failed to meet its debt securities payment obligations in the securities market.

g) That I have not been a shareholder, board member, auditor, sole administrator, general director or relevant executive in a legal entity to which the Ministry of Finance and Public Credit, the Bank of Mexico, the National Banking and Securities Commission, the National Insurance and Bonds Commission or the National Retirement Savings System Commission, have denied the concession, authorization, or registration, nor has the authorization to have the status of shareholder in societies supervised by said National Commissions been denied to me.

h) That I have not been a shareholder, board member, auditor, sole administrator, general director or relevant executive in a financial entity to which the concession or authorization has been revoked, or the registration cancelled, nor has the authorization to acquire shares of the share capital of societies that enjoy the concession, authorization or registration of the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Bonds Commission or the National Retirement Savings System Commission been denied to me.

i) That the resources with which I have paid (will pay) my participation in the share capital of the society named (to be named) (___________________), came (will come) from the following sources:

SOURCE

ENTITY OR PERSON

EXACT AMOUNT TO

CONTRIBUTE TO THE

SHARE CAPITAL

PERCENTAGE

Own resources. Specify:

N/A

Others. Specify:

(indicate if they come from credits

granted by national or foreign

financial entities)

Total resources:

100%

Comments and clarifications:

Finally, I authorize the Ministry of Finance and Public Credit to, if applicable, verify before Mexican financial entities, credit information societies, as well as before Mexican and foreign authorities, the veracity of the declarations contained in this document, regarding any type of operations, even those protected by confidentiality provisions.

Sincerely,

(Name and signature of the interested party)

Filling Instructions:

1. Fill in the blanks and provide the information indicated in parentheses, as appropriate.

2. Attach the credit information report, with the status of special credit report in terms of the Law for Regulating Credit Information Societies. In case the persons have not resided in national territory during a period of six years prior to the date of the authorization request, the document equivalent to the credit information report issued in their country of residence must be presented. The documents referred to in this numeral must have an issuance date not older than three months prior to the date of such request.

3. In the event that the interested party is not able to make any of the declarations referred to in letters a) to h) of this letter, they must express in the corresponding numeral, such circumstance, detailing the facts, acts and reasons that prevent them or for which they do not fall under the referred circumstances.

B. FORMAT OF PROTEST LETTER FOR LEGAL ENTITIES OR TRUSTS

Mexico City, on __________________

MINISTRY OF FINANCE AND PUBLIC CREDIT

Present,

(Name or corporate name of the legal entity, or data of the trust and trustee institution), through its representative (name of the legal representative or fiduciary delegate), personality accredited through power contained in (data of the deed and its registration in the Public Commerce Registry or trust contract), with the object of providing the information that proves necessary in relation to the authorization request for the operation of a novel model in terms of Article 80 of the Law for Regulating Financial Technology Institutions, by the society named (to be named) (___________________), in whose share capital it intends to maintain a participation, I declare under oath of truth the following:

a) That it has not been declared in civil, or commercial bankruptcy in terms of the Commercial Bankruptcy Law, or even if it has been, this was terminated by the causes indicated in fractions I, II or V of Article 262 of the Commercial Bankruptcy Law, or in the case of civil bankruptcy, by having paid in full to creditors or having entered into an agreement with them, in terms of local laws.

b) That it has not been sanctioned, through a firm and definitive resolution, by the National Banking and Securities Commission or the National Commission for the Protection and Defense of Users of Financial Services, for violations of national or foreign financial laws, or before other Mexican supervisory and regulatory institutions of the financial system or of other countries.

c) That it is up to date with its credit obligations of any kind, which it accredits with its special credit report in terms of the Law for Regulating Credit Information Societies, with an issuance date not older than three months prior to the date of this document.

I also declare that my represented entity has not failed to meet its debt securities payment obligations in the securities market, nor has it had control nor does it exercise nor has it exercised command power over an issuing society that has done so.

d) That it has not been a shareholder of a legal entity to which the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Bonds Commission or the National Retirement Savings System Commission, have denied the concession, authorization or registration.

e) That it has not been a shareholder of a financial entity to which the concession, authorization or registration has been revoked by the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Bonds Commission or the National Retirement Savings System Commission.

f) That the resources with which it has paid (will pay) its participation in the share capital of the society named (to be named) (___________________), came (will come) from the following sources:

SOURCE

ENTITY OR PERSON

EXACT AMOUNT TO

CONTRIBUTE TO THE

SHARE CAPITAL

PERCENTAGE

Own resources. Specify:

N/A

Others. Specify:

(indicate if they come from credits

granted by national or foreign

financial entities)

Total resources:

100%

Comments and clarifications:

Finally, I authorize the Ministry of Finance and Public Credit to, if applicable, verify before Mexican financial entities, credit information societies, as well as before Mexican and foreign authorities, the veracity of the declarations contained in this document, regarding any type of operations, even those protected by confidentiality provisions.

Sincerely,

(Name and signature of the legal representative or fiduciary delegate)

(Name or corporate name of the legal entity, or data of the trust and trustee institution)

Filling Instructions:

1. Fill in the blanks and provide the information indicated in parentheses, as appropriate.

2. Attach the credit information report, with the status of special credit report in terms of the Law for Regulating Credit Information Societies. In case of persons of foreign nationality, the document equivalent to the credit information report issued in their country of residence must be presented. The documents referred to in this numeral must have an issuance date not older than three months prior to the date of such request.

3. In the event that the interested party is not able to make any of the declarations referred to in letters a) to e) of this letter, they must express in the corresponding numeral, such circumstance, detailing the facts, acts and reasons that prevent them or for which they do not fall under the referred circumstances.

ANNEX B

FORMATS OF PROTEST LETTERS FOR PERSONS PROPOSED TO OCCUPY POSITIONS IN THE ADMINISTRATIVE AND SUPERVISORY BODIES OF A POSSIBLE AUTHORIZED SOCIETY TO OPERATE A NOVEL MODEL

Mexico City on _______________

MINISTRY OF FINANCE AND PUBLIC CREDIT

Present,

The undersigned, (name of the person signing), by my own right and in relation to the authorization request presented before that Ministry of Finance and Public Credit for the operation of a novel model in terms of Article 80 of the Law for Regulating Financial Technology Institutions, by the society named (to be named) (___________________), in which I would be proposed to perform as (name of the position), through this document I manifest under oath of truth, the following:

a) That I am not disqualified from exercising commerce or from holding a job, position or commission in public service, or in the Mexican financial system.

b) That I have not been declared in civil or commercial bankruptcy, or even if I have been, this was terminated by the causes indicated in fractions I, II or V of Article 262 of the Commercial Bankruptcy Law, or in the case of civil bankruptcy, by having paid in full to creditors or having entered into an agreement with them, in terms of local laws.

c) That I have not been sentenced for property crimes, even in other countries.

d) That I am not or have not been subject to criminal proceedings or investigations, even in other countries, for intentional crimes punishable with corporal penalty greater than one year of imprisonment, and that, in case I have been, this concluded with an acquittal.

e) That I have not been sanctioned, through a firm and definitive resolution, by the National Banking and Securities Commission for violations of national or foreign financial laws, or before other Mexican supervisory and regulatory institutions of the financial system or of other countries.

f) That I do not have a conflict of interest or interest opposed to that of the persons requesting authorization.

g) That I am up to date with my credit obligations of any kind, which I accredit with my special credit report in terms of the Law for Regulating Credit Information Societies, with an issuance date not older than three months prior to the date of this document.

I also declare that I do not have nor have had control, nor do I exercise nor have I exercised command power over an issuing society that has failed to meet its debt securities payment obligations in the securities market.

h) That I have not been a shareholder, board member, auditor, sole administrator, general director or relevant executive in a legal entity to which the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Bonds Commission or the National Retirement Savings System Commission, have denied the concession, authorization, or registration, nor has the authorization to have the status of shareholder in societies supervised by said National Commissions been denied to me.

i) That I have not been a shareholder, board member, auditor, sole administrator, general director or relevant executive in a financial entity to which the concession or authorization has been revoked, or the registration cancelled, nor has the authorization to acquire shares of the share capital of societies that enjoy the concession, authorization or registration of the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Bonds Commission or the National Retirement Savings System Commission been denied to me.

Finally, I authorize the Ministry of Finance and Public Credit to, if applicable, verify before Mexican financial entities, credit information societies, as well as before Mexican and foreign authorities, the veracity of the declarations contained in this document, regarding any type of operations, even those protected by confidentiality provisions.

Sincerely,

(Name and signature)

Filling Instructions:

1. Fill in the blanks and provide the information indicated in parentheses, as appropriate.

2. Attach the credit information report, with the status of special credit report in terms of the Law for Regulating Credit Information Societies. In case the persons have not resided in national territory during a period of six years prior to the date of the authorization request, the document equivalent to the credit information report issued in their country of residence must be presented. The documents referred to in this numeral must have an issuance date not older than three months prior to the date of such request.

3. In the event that the interested party is not able to make any of the declarations of this letter, they must express in the corresponding numeral, such circumstance, detailing the facts, acts and reasons that prevent them or for which they do not fall under the referred circumstances.

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Electronic address: dof.gob.mx

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