Guidelines for the Disclosure of Sanctions Imposed by the National Commission for the Retirement Savings System under the Law for Regulating Financial Technology Institutions

DOF: 12/03/2019

GUIDELINES FOR THE DISCLOSURE OF SANCTIONS IMPOSED BY THE NATIONAL COMMISSION FOR THE RETIREMENT SAVINGS SYSTEM UNDER THE LAW FOR REGULATING FINANCIAL TECHNOLOGY INSTITUTIONS

A seal bearing the National Coat of Arms appears at the margin, which reads: United Mexican States.- SHCP.- Ministry of Finance and Public Credit.- National Commission for the Retirement Savings System.

GUIDELINES FOR THE DISCLOSURE OF SANCTIONS IMPOSED BY THE NATIONAL COMMISSION FOR THE RETIREMENT SAVINGS SYSTEM UNDER THE LAW FOR REGULATING FINANCIAL TECHNOLOGY INSTITUTIONS

The President of the National Commission for the Retirement Savings System, based on what is provided in Article 108 of the Law for Regulating Financial Technology Institutions, as well as Articles 1, 2, 5, subsections I, II, III, XIII bis and XV, 11, and 12 subsections I, VIII and XVI of the Law of the Retirement Savings Systems, and

CONSIDERING

That based on the Law for Regulating Financial Technology Institutions, this Commission has the obligation to issue guidelines for the disclosure of sanctions it imposes under said Law, and

That with the objective of protecting the exercise of the right of access to public governmental information, as established by the aforementioned legal framework, it is necessary for this Commission to make known to the general public, through its internet portal, the sanctions it imposes to that effect, has resolved to issue the following:

GUIDELINES FOR THE DISCLOSURE OF SANCTIONS IMPOSED BY THE NATIONAL COMMISSION FOR THE RETIREMENT SAVINGS SYSTEM UNDER THE LAW FOR REGULATING FINANCIAL TECHNOLOGY INSTITUTIONS

Article 1.- These guidelines aim to determine the manner in which the National Commission for the Retirement Savings System must make known to the public the Sanctions it imposes for violations of the Law or provisions emanating from it.

For the purposes of these guidelines, the following shall be understood:

I.

The Commission, refers to the National Commission for the Retirement Savings System;

II.

Law, refers to the Law for Regulating Financial Technology Institutions, and

III.

Sanctions, refers to those that, in accordance with the Law or provisions emanating from it, are imposed by the Commission, whether monetary or non-monetary.

Article 2.- The Commission must make known to the general public on its electronic page on the worldwide network called Internet, the Sanctions it imposes in the exercise of its powers, as well as keep such information updated. Such publication must include:

I.

The name, denomination or corporate name of the offending person;

II.

The infringed provision and the type of Sanction imposed, stating whether a reprimand, disqualification, removal or suspension was imposed and the corresponding months or years, and if it is a Monetary Sanction, indicating its amount. Regarding Monetary Sanctions, it must be stated whether the offender complied with the corresponding payment;

III.

A description of the offending conduct, in which it must be specified whether the Sanction is considered serious, as well as whether there is recidivism;

IV.

The date of its imposition and the status of the resolution, indicating whether it is final or if it is subject to challenge. In the latter case, it must also indicate whether any means of defense has been filed and its type, when there is knowledge of such circumstance having been duly notified by a competent authority;

V.

The date on which the competent authority, if applicable, has rendered the imposed Sanction without effect, declared its validity or ordered the restoration of the act, indicating which of these scenarios occurred, and

VI.

Clarifications regarding the above information determined by the Commission itself.

Article 3.- The Commission must make known to the general public the Sanctions it has imposed, and the circumstances referred to in the previous Article 2, on the fifteenth calendar day of the month following that in which they have been verified or notified, as applicable, or on the next business day if that day is not a business day.

As an exception to what is provided in the preceding paragraph, the Commission may carry out the disclosure of some sanction or the circumstances referred to in Article 2 of these guidelines on a different date, when due to its importance and significance so warrants, provided that in no case such publication can be made after the date referred to in the preceding paragraph.

Article 4.- The information referred to in Article 2 will be contained in a specific section titled "imposed sanctions", with direct access from the home page of the Commission's electronic portal.

Article 5.- The Commission will maintain the information relating to the Sanctions it publishes on its electronic page on the worldwide network called Internet, for a period of at least three years counted from the date the corresponding resolution became final, even in cases where the sanction has become without effect.

TRANSITORY PROVISIONS

FIRST.- These Guidelines will enter into force thirty days following their publication in the Official Gazette of the Federation.

Mexico City, February 21, 2019.- The President of the National Commission for the Retirement Savings System, Abraham E. Vela Dib.- Signature.

(R.- 479040)

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