Internal Regulations of the National Banking and Securities Commission

DOF: 28/02/2022

INTERNAL REGULATIONS OF THE NATIONAL BANKING AND SECURITIES COMMISSION

A seal with the National Coat of Arms appears at the margin, stating: United Mexican States.- Presidency of the Republic.

ANDRÉS MANUEL LÓPEZ OBRADOR, President of the United Mexican States, in exercise of the power conferred upon me by Article 89, Section I of the Political Constitution of the United Mexican States, and based on Articles 14, 17, 18, and 31 of the Organic Law of the Federal Public Administration, and Articles 4 and 10 of the Law of the National Banking and Securities Commission, have deemed it appropriate to issue the following:

INTERNAL REGULATIONS OF THE NATIONAL BANKING AND SECURITIES COMMISSION

First Title
Generalities

Single Chapter
On Definitions and Preliminary Provisions

Article 1.- The National Banking and Securities Commission, as a decentralized administrative body of the Ministry of Finance and Public Credit, with technical autonomy and executive powers, will exercise the powers conferred upon it by its own Law, laws related to the Mexican financial system, as well as other applicable legal frameworks, to achieve its object.

Article 2.- For the purposes of this Regulation, in addition to the definitions provided in Article 3 of the Law of the National Banking and Securities Commission, the following shall be understood:

I. Investment Advisors, those referred to in Title VII of the Securities Market Law (LMV);
II. Inter-institutional Committee, the collegiate body integrated in accordance with the Law for Regulating Financial Technology Institutions (LRITF);
III. LACP, the Popular Savings and Credit Law;
IV. LCNBV, the Law of the National Banking and Securities Commission;
V. LFI, the Investment Funds Law;
VI. LGOAAC, the General Law of Organizations and Auxiliary Activities of Credit;
VII. LIC, the Credit Institutions Law;
VIII. LMV, the Securities Market Law;
IX. LRAF, the Law for Regulating Financial Groupings;
X. LRASCAP, the Law for Regulating the Activities of Savings and Loan Cooperative Societies;
XI. LRITF, the Law for Regulating Financial Technology Institutions;
XII. LRSIC, the Law for Regulating Credit Information Societies;
XIII. LTFCCG, the Law on Transparency and Promotion of Competition in Secured Credit;
XIV. LTOSF, the Law for the Transparency and Ordering of Financial Services;
XV. LUC, the Credit Unions Law; and
XVI. Unregulated Multiple-Object Financial Companies, those referred to in the sixth paragraph of Article 87-B of the LGOAAC.

For the purposes of the provisions in this Regulation, the laws of the Mexican financial system are those that, regarding intermediation and financial services, are issued by the Congress of the Union, based on Section X of Article 73 of the Political Constitution of the United Mexican States, and which grant the Commission regulatory and supervisory attributes regarding Entities, Investment Advisors, Federations, Protection Funds, Currency Exchanges, Money Transmitters, Unregulated Multiple-Object Financial Companies, representative offices of foreign financial entities, and societies authorized to operate with novel models, as well as natural or legal persons carrying out activities foreseen in said laws.

Second Title
Organization and Competence

Chapter I
On the Organizational Structure of the Commission

Article 3.- The Commission, for the exercise of its powers, has the following organs and administrative units:

I. Board of Directors;
II. Inter-institutional Committee;
III. Presidency;
IV. Vice-presidencies; and
V. General Directorates.

At the head of the Presidency, the vice-presidencies, and general directorates, respectively, shall be the President and the holders of the vice-presidencies and general directorates.

The holders of the general directorates will be assisted in the processing and resolution of matters within their competence by the holders of coordinations, area directorates, and sub-directorates, as well as by inspectors, specialists, and other personnel required to satisfy service needs, as determined by the Commission by agreement of the Board of Directors according to budgetary availability.

Article 4.- The President, for the performance of his attributes and functions, will be assisted by the following public servants and administrative units:

I. Public Servants:
A. Holders of the vice-presidencies; and
B. Holders of the general directorates; and
II. Administrative Units:
A. Vice-presidencies:

Vice-presidency for Supervision of Groups and Financial Intermediaries A;
Vice-presidency for Supervision of Groups and Financial Intermediaries B;
Vice-presidency for Supervision of Development Banking and Popular Finance;
Vice-presidency for Stock Market Supervision;
Technical Vice-presidency;
Vice-presidency for Regulatory Policy;
Legal Vice-presidency;
Vice-presidency for Normativity;
Vice-presidency for Supervision of Preventive Processes; and
Vice-presidency for Administration and Strategic Planning; and
B. General Directorates:
General Directorate for Supervision of Groups and Financial Intermediaries A;
General Directorate for Supervision of Groups and Financial Intermediaries B;
General Directorate for Supervision of Groups and Financial Intermediaries C;
General Directorate for Supervision of Groups and Financial Intermediaries D;
General Directorate for Supervision of Groups and Financial Intermediaries E;
General Directorate for Supervision of Groups and Financial Intermediaries F;
General Directorate for Supervision of Credit Unions;
General Directorate for Supervision of Popular Financial Companies A;
General Directorate for Supervision of Popular Financial Companies B;
General Directorate for Supervision of Development Banking and Promotion Entities;
General Directorate for Supervision of Savings and Loan Cooperatives A;
General Directorate for Supervision of Savings and Loan Cooperatives B;
General Directorate for Supervision of Entities and Stock Market Intermediaries;
General Directorate for Investment Administration;
General Directorate for Stock Market Legal Affairs;
General Directorate for Issuers;
General Directorate for Supervision of Market Participants' Conduct;
General Directorate for Methodologies and Risk Analysis;
General Directorate for Operational and Technological Risk Supervision;
General Directorate for Information Security Supervision;
General Directorate for Analysis and Information;
General Directorate for Supervision of Financial Technology Institutions;
General Directorate for Supervision of Network Participants;
General Directorate for Regulatory Development;
General Directorate for International Affairs;
General Directorate for Economic Studies;
General Directorate for Access to Financial Services;
General Directorate for Crimes and Sanctions;
General Contenciosa Directorate;
General Directorate for Investigative Visits;
General Directorate for Authorizations to the Financial System;
General Directorate for Specialized Authorizations;
General Directorate for Provisions;
General Directorate for Governing Bodies and Legal Consultancy;
General Directorate for Prevention of Operations with Illicit Proceeds A;
General Directorate for Prevention of Operations with Illicit Proceeds B;
General Directorate for Prevention of Operations with Illicit Proceeds C;
General Directorate for Attention to Authorities;
General Directorate for Informatics;
General Directorate for Programming, Budget, and Material Resources;
General Directorate for Organization and Human Resources;
General Directorate for Strategic Planning;
General Directorate for Supervision Methods and Processes;
General Directorate for Special Projects and Coordination with Authorities of the Financial System; and
General Directorate for Social Communication.

Article 5.- The person occupying the position of President must meet the requirements referred to in Article 15 of the LCNBV. Regarding the holders of the vice-presidencies, general directorates, and members of the Board of Directors, they must meet the requirements referred to in Sections III to V of said article.

The President will designate the public servants of the Commission in cases where he holds such attribution in terms of applicable legislation.

Chapter II
On the Board of Directors

Article 6.- The Board of Directors will be integrated and function in accordance with what is provided in Articles 11 and 13 of the LCNBV, corresponding to it to exercise the attributes established in Article 12 of said Law and those others expressly attributed to it by other legal frameworks.

Article 7.- The Board of Directors will have a Secretary and their respective substitute, who will assist them in the performance of their functions, who will be appointed by said Board from among the public servants of the Commission.

It will correspond to the Secretary of the Board of Directors to exercise the following functions:

I. Integrate the agenda of ordinary and extraordinary sessions of the Board of Directors, in accordance with what was approved by the President, when it is convened, for which they will receive the documentation or information relative to the matters that the public servants of the Commission intend to submit to it;
II. Notify the members and guests of the Board of Directors sessions of the corresponding summons, as well as make available to them, with all due opportunity, the information and documentation necessary for adequate decision-making;
III. Draft and sign the minutes of the Board of Directors sessions;
IV. Follow up on the agreements of the Board of Directors. To this effect, they will request from the vice-presidency or general directorate responsible for notifying and executing said agreements, the reports that allow determining the degree of progress regarding them; and
V. Certify copies or extracts of the minutes of the Board of Directors sessions.

The minutes of the Board of Directors sessions will be kept in books and signed by whoever presided over said Board and by the Secretary thereof, as well as by the attending members of the Board of Directors, and documents relative to the session in question must also be kept in said books.

Article 8.- The board members of the Board of Directors will deliberate freely and may request, if applicable, that their opinion or particular vote on the matters discussed be recorded in the respective minutes, which in all cases must be substantiated.

The board members of the Board of Directors must excuse themselves from deliberating on one or more points of the agenda of the sessions of said collegiate body when there is a legal impediment or conflict of interest that does not allow them to deliberate, resolve, or vote on specific matters.

Article 9.- The agreements of the Board of Directors may be executed, in accordance with their scope of competence, by the President, the holders of the vice-presidencies and general directorates, and other public servants of the Commission.

Article 10.- The Board of Directors may, by agreement, delegate to the President and other public servants of the Commission the attribute of imposing administrative sanctions for violations of laws related to the Mexican financial system and general provisions emanating from them, in accordance with what is established in Article 12, Section IV of the LCNBV, taking into account the nature of the violation or the amount of the sanction. Such delegatory agreement must be published in the Official Journal of the Federation.

The President and the public servants in question may be assisted in the exercise of the delegated attributes for imposing sanctions by the committee or committees that the Board of Directors establishes for such effect, with the Board itself determining the norms of their organization, integration, and functioning.

Chapter III
On the Inter-institutional Committee

Article 11.- The Inter-institutional Committee will be integrated and function in accordance with Article 35 of the LRITF and the bases issued for such effect by the Committee itself, corresponding to it to exercise the attributes established in Articles 11, 15, 22, 36, Section IV, 39, Sections V and XVI, 44, 55, 62, and 69 of the LRITF.

Article 12.- The agreements of the Inter-institutional Committee may be executed, in accordance with their scope of competence, by the President, the holders of the vice-presidencies and general directorates, and other public servants of the Commission.

Chapter IV
On the Presidency

Article 13.- The President is the highest administrative authority of the Commission and will have the attributes conferred upon them by Articles 16 and 17 of the LCNBV and other applicable legal frameworks. In any case, when performing their attributes, they may:

I. Exercise the non-delegable ones referred to:
a) Section XXII of Article 4 of the LCNBV; b) Section XXIV of Article 4 of the LCNBV, regarding the celebration of agreements with national and international bodies with similar supervision and regulation functions to those of the Commission; and c) Sections II to IV, VII, IX to XII, and XIV of Article 16 of the LCNBV; and
II. Propose for approval by the Board of Directors, the following matters:
a) Administrative or managerial intervention of Entities subject to the supervision of the Commission, with the objective of suspending, normalizing, or resolving operations that endanger their solvency, stability, or liquidity, or those violating the laws governing them or general provisions derived from them; b) Total or partial forgiveness of administrative sanctions; c) General provisions that require prior agreement or approval of the Board of Directors in terms of the laws of the Mexican financial system; d) The structure of the administrative organization of the Commission, as well as its modifications, in accordance with what is provided in this Regulation and other applicable legal provisions, so that they are submitted for consideration to the corresponding authority; e) The organization, constitution, and operation of Entities, as well as for these to operate with novel models, and of societies intending to operate with novel models, which require prior agreement or approval of the Board of Directors in terms of the laws of the Mexican financial system; and f) Other matters deemed pertinent.

The President will determine, attending to the competence established by this Regulation, the Entities, societies authorized to operate with novel models, Investment Advisors, Federations, Protection Funds, representative offices of foreign financial entities, Currency Exchanges, Money Transmitters, Unregulated Multiple-Object Financial Companies, or natural or legal persons subject to the supervision of the Commission, that will correspond to each of the General Directorates for Supervision of Groups and Financial Intermediaries A, B, C, D, E, and F; of Supervision of Development Banking and Promotion Entities; of Supervision of Credit Unions; of Supervision of Savings and Loan Cooperatives A and B; of Supervision of Popular Financial Companies A and B; of Investment Administration; of Supervision of Entities and Stock Market Intermediaries; of Issuers; of Supervision of Network Participants; of Operational and Technological Risk Supervision; of Information Security Supervision; of Methodologies and Risk Analysis; of Analysis and Information; of Supervision of Market Participants' Conduct; of Supervision of Financial Technology Institutions; of Prevention of Operations with Illicit Proceeds A, B, and C, in accordance with the classification established in the Register of Supervised Entities published on the Internet page of the Commission.

Article 14.- The President, the holders of the vice-presidencies, general directorates, and coordinations, will have the legal representation of the Commission, to exercise the attributes within their scope of competence and to notify any administrative act issued by the Commission in accordance with applicable legal provisions.

Article 15.- The President will exercise directly or, through a delegatory agreement, through the holders of the vice-presidencies, general directorates, and other public servants of the Commission, the attributes provided for in Sections I, V, VI, VIII, XIII, XV, and XVI of Article 16 of the LCNBV and other attributes that respective legal frameworks do not indicate as non-delegable.

Agreements by which attributes are delegated will be published in the Official Journal of the Federation.

Article 16.- The President will designate, from among the public servants of the Commission, the persons who will serve as representatives of the Commission before dependencies and entities of the Federal Public Administration, as well as in other bodies, collegiate organs, or entities in which it participates in the country or abroad.

Chapter V
On the Vice-presidencies and General Directorates

First Section
On the Vice-presidencies

Article 17.- The vice-presidencies, through their holders, will exercise, by signing the necessary administrative acts, the faculties and resolution of matters that are the competence of the general directorates and coordinations attached to them, as determined by the Board of Directors by agreement published in the Official Journal of the Federation; the foregoing, without prejudice to the exercise of such attributes by the holders of said general directorates and coordinations.

Likewise, it will correspond to them the exercise of the following executive attributes:

I. Periodically inform the President and the Board of Directors of the exercise of their attributes;
II. Prepare for the President's agreement, and if applicable, present the information and documentation elaborated by the general directorates attached to them that must be submitted for consideration and approval by the Board of Directors, except those that are exclusively within the President's competence, as well as those matters that the President deems convenient to submit for consideration by the Board of Directors;
III. Plan, formulate, and direct the annual work programs of the administrative units attached to them;
IV. Receive in agreement the holders of the administrative units attached to them;
V. Participate in consultation forums and groupings of supervision and regulation bodies at the national and international level, the latter, in coordination with the General Directorate for International Affairs and with prior instruction from the President. In the performance of such attributes, substitutes may be designated from among the public servants of the Commission;
VI. Execute instructions and other activities entrusted to them by the President;
VII. Issue certifications of the documents held in their files; and
VIII. Carry out other activities derived from their competence in accordance with applicable legal provisions and delegatory agreements.

Second Section
On the General Directorates

Article 18.- The General Directorates for Supervision of Groups and Financial Intermediaries A, B, C, D, E, and F; of Supervision of Development Banking and Promotion Entities; of Supervision of Credit Unions; of Supervision of Savings and Loan Cooperatives A and B; of Supervision of Popular Financial Companies A and B; of Investment Administration; of Supervision of Entities and Stock Market Intermediaries; of Issuers; of Methodologies and Risk Analysis; of Supervision of Network Participants; of Supervision of Market Participants' Conduct; of Supervision of Financial Technology Institutions, and of Prevention of Operations with Illicit Proceeds A, B, and C, within their respective scopes of competence and in accordance with what is provided in this Regulation, will exercise, through their holders, the supervision attributes that, in terms of applicable legal frameworks, correspond to the Commission, constantly striving for the improvement of supervision through the development, updating, and homogenization of supervision methodologies.

In exercising the supervision attributes, the general directors referred to in this article may:

I. Order the conduct of inspection visits, carry out surveillance, and determine corrective measures, and if applicable, formulate recommendations to Entities, societies authorized to operate with novel models, Investment Advisors, Currency Exchanges, Money Transmitters, Unregulated Multiple-Object Financial Companies subject to the supervision of the Commission, according to their scope of competence, in accordance with applicable legal provisions;
II. Authorize the personnel under their command, so that during the practice of an inspection visit, they can request the information and documentation they deem necessary, including that relative to the holder or beneficiary corresponding to the operations and services carried out by said Entities, societies authorized to operate with novel models, Investment Advisors, Currency Exchanges, Money Transmitters, Unregulated Multiple-Object Financial Companies subject to the supervision of the Commission that, in terms of laws related to the Mexican financial system, are protected by some type of secrecy;
III. Evaluate the risks, including discretionary or non-discretionary risks, to which the supervised Entities are subject, the control systems, and the quality of administration, which they may carry out individually or consolidated in the case of grouped Entities and Entities that use identical or similar names, act jointly, offer complementary services, or have common shareholders.

For the evaluation of discretionary and non-discretionary risks to which Entities are exposed, in accordance with prudential provisions issued by the Commission, inspection visits may be conducted to evaluate their capacity to identify, measure, monitor, limit, control, report, and disclose discretionary and non-discretionary risks.

For the purposes of the provisions in this section, discretionary risks shall be understood as those resulting from a risk-taking position, and non-discretionary risks as those resulting from

the operation of the business, but which are not the result of taking a risk position, as provided in the prudential provisions issued by the Commission;

IV.

Conduct inspection visits to Entities, societies authorized to operate with novel models, Investment Advisors, Exchange Centers, Money Transmitters, Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission, whether ordinary, special, and investigative, for which they may carry out the review, verification, verification and evaluation of operations and audit of records and processes, including those that are in automated systems, within their area of competence, to verify the status of the Entities, societies authorized to operate with novel models, Investment Advisors, Exchange Centers, Money Transmitters, Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission, that comply with the legal frameworks governing them, as well as with the sound uses and practices of financial markets;

Monitor, through the analysis of economic, financial, accounting and corporate information and documentation, the Entities, societies authorized to operate with novel models, Investment Advisors, Exchange Centers, Money Transmitters or Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission, to supervise compliance with applicable legal frameworks;

VI.

Investigate acts by natural or legal persons who carry out activities foreseen in the laws relating to the Mexican financial system, without having the authorization, concession or registration established by said laws, being able to order investigative visits to the alleged responsible parties;

VII.

Make observations to the Entities, societies authorized to operate with novel models, Investment Advisors, Exchange Centers, Money Transmitters, Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission, when in the exercise of their inspection and monitoring functions, they detect elements from which facts, acts or omissions that imply probable non-compliance with applicable provisions or sound practices of financial markets may be derived;

VIII.

Formulate recommendations to the Entities, societies authorized to operate with novel models, Investment Advisors, Exchange Centers, Money Transmitters or Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission, and

IX.

Exercise the powers set forth in article 19 and others of these Regulations, as appropriate to their area of competence.

The conduct of investigative visits to Entities and Investment Advisors to verify compliance with the LIC, LMV, LFI and general provisions emanating from them, related to investigating the improper use of insider information, the dissemination of false information to the market, simulation, market manipulation and other acts contrary to the legal frameworks applicable to securities markets and traded financial derivative instruments, as well as to the sound uses and practices of said markets, shall correspond to the General Directorate of Supervision of Market Participants' Conduct.

The powers established in this article to verify compliance with legal provisions in matters of prevention, detection and reporting of acts, omissions or operations that could fall under the circumstances of articles 139 Quater or 400 Bis of the Federal Penal Code, with respect to Entities, societies authorized to operate with novel models and Investment Advisors, may be exercised by the heads of the General Directorates of Supervision of Groups and Financial Intermediaries A, B, C, D, E or F; of Supervision of Development Banking and Promotion Entities; of Supervision of Credit Unions; of Supervision of Savings and Loan Cooperatives A or B; of Supervision of Popular Financial Societies A or B; of Investment Administration; of Supervision of Entities and Stock Intermediaries; of Supervision of Market Participants' Conduct or of Supervision of Fintech Institutions, when so agreed with the General Directorates of Prevention of Operations with Resources of Illicit Origin A, B or C. These powers shall be exercised in a coordinated manner in accordance with the corresponding internal processes.

The powers referred to in this article with respect to Exchange Centers, Money Transmitters and Unregulated Multiple-Object Financial Societies shall be limited to the supervision of acts, omissions or operations that could fall under the circumstances of articles 139 Quater or 400 Bis of the Federal Penal Code.

Article 19.- The General Directorates of Supervision of Groups and Financial Intermediaries A, B, C, D, E and F; of Supervision of Development Banking and Promotion Entities; of Supervision of Credit Unions; of Supervision of Savings and Loan Cooperatives A and B; of Supervision of Popular Financial Societies A and B; of Investment Administration; of Supervision of Entities and Stock Intermediaries; of Issuers; of Methodologies and Risk Analysis; of Supervision of Network Participants; of Supervision of Market Participants' Conduct; of Supervision of Fintech Institutions and of Prevention of Operations with Resources of Illicit Origin A, B and C, through their heads, within their area of competence and without prejudice to the supervisory powers referred to in article 18 of these Regulations, may:

Prepare and, if applicable, propose for approval to the vice-presidency to which they are attached, the annual supervision program for Entities, societies authorized to operate with novel models, Investment Advisors, Exchange Centers, Money Transmitters or Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission, within their area of competence;

II.

Coordinate the ordinary inspection visits that have been planned in accordance with the annual supervision program, as well as order the carrying out of special or investigative visits to the Entities, societies authorized to operate with novel models, Investment Advisors, Exchange Centers, Money Transmitters or Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission, within their area of competence in accordance with the provisions of these Regulations, informing them of the acts of authority corresponding to them and registering both the results and the evaluation of these through the reports formulated on the subject. In all cases, they may request information and documentation on the Entities, societies authorized to operate with novel models, Investment Advisors, Exchange Centers, Money Transmitters or Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission, including data, reports, records, minute books, auxiliaries, papers, documents, correspondence and other information and documentation they deem necessary for the exercise of their inspection and monitoring powers;

III.

Evaluate the liquidity, solvency and financial stability of the Entities they supervise, the adequacy of capital to the risks to which they are exposed, the quality of assets, internal control systems, risk management and information systems, as well as the organization and profitability of the Entities, for which they will have powers to request reports of an economic, accounting, financial, administrative, corporate and legal nature that they require for such purposes, as well as to carry out any type of visit. Likewise, follow up and verify, if applicable, compliance with the capital restoration plan referred to in subsection b) of fraction I of article 122 of the LIC;

IV.

Inform their hierarchical superior of the results of the supervision;

Issue the necessary measures so that Entities, Investment Advisors, Exchange Centers, Money Transmitters, Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission or societies authorized to operate with novel models, within their area of competence, in accordance with the provisions of these Regulations, adjust their activities and operations to the laws applicable to them, to the general provisions derived from them, to commercial, stock and banking usages, to sound practices of financial markets and other applicable legal provisions, for which they will have, among others, the following powers:

Order, in accordance with the provisions of the Mexican financial system laws, corrections or modifications to the accounting records and financial statements of the Entities, as well as instruct their publication;

Require the information deemed necessary to verify compliance with external accounting audit standards and procedures, related to the external auditor's report corresponding to the Entity;

Order modifications to the documents that Entities, societies authorized to operate with novel models, Investment Advisors, Exchange Centers, Money Transmitters or Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission must prepare, in accordance with the provisions of the general provisions issued by the Ministry of Finance and Public Credit, in matters of prevention, detection and reporting of acts, omissions or operations that could fall under the circumstances of articles 139 Quater or 400 Bis of the Federal Penal Code;

Require additional capitalization requirements beyond those indicated in the applicable legal provisions, in accordance with what is stated in these;

Order the suspension of operations of the Entities in the terms provided in the LCNBV;

Establish the maximum estimate of assets and minimum of obligations of the Entities;

Propose to the President the celebration of compulsory compliance programs in terms of article 5, seventh paragraph of the LCNBV;

Instruct the establishment of internal control and risk management measures for the Entities;

Issue other measures deemed appropriate in accordance with the laws of the Mexican financial system and other applicable legal provisions;

Order, in accordance with the provisions of the Mexican financial system laws, corrections or modifications to the calculation of capitalization indices or levels, liquidity and other financial ratios of the Entities, as well as instruct their publication;

Order corrections or modifications to the prudential policies and guidelines adopted by the Entities, as well as to the adequate segregation of functions between business units and other instances of the organizational structure of the Entities, as well as instruct their publication;

Order, in accordance with the provisions of the Mexican financial system laws, the integration of preventive reserves for risk in the operation of the credit portfolio for Entities when the qualification process of said portfolio deviates from what is established in the applicable legal provisions, and

Order the application of corrective measures and additional special corrective measures to the Entities, in accordance with the applicable legal provisions;

VI.

Verify compliance, when appropriate, with compulsory compliance prevention and correction programs for Entities and Investment Advisors they supervise, aimed at eliminating irregularities and risks when they present imbalances that could affect their liquidity, solvency, financial stability or affect the continuity of their operations. To this end, they may celebrate or sign compulsory compliance agreements or programs. The power referred to in this fraction shall be exercised in coordination with the General Directorate of Crimes and Sanctions;

VII.

Propose to the General Directorates of Provisions and Regulatory Development, the elaboration of applicable regulation for Entities, societies authorized to operate with novel models, Investment Advisors, Exchange Centers, Money Transmitters or Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission;

VIII.

Propose to the General Directorate of Crimes and Sanctions, the application of sanctions and, if applicable, the imposition of precautionary measures that arise in connection with the corresponding sanctions within the scope of their powers;

IX.

Present before the Committee established by the Board of Directors, matters relating to infractions regarding which the power to abstain from sanctioning may be exercised, in accordance with applicable legal provisions;

Specify the form and terms in which Entities, societies authorized to operate with novel models, Investment Advisors, Exchange Centers, Money Transmitters or Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission, will be obliged to provide to the Commission itself, the data, reports, records, minute books, auxiliaries, documents, correspondence and, in general, the information and documentation they deem necessary for the exercise of their inspection and monitoring powers, including information and documentation relating to the holder or beneficiary corresponding to the operations and services carried out by said Entities, societies authorized to operate with novel models, Investment Advisors, Exchange Centers, Money Transmitters or Unregulated Multiple-Object Financial Societies, which in terms of the laws relating to the Mexican financial system are protected by some type of secrecy. In the administrative acts through which this power is exercised, the obligation to provide the corresponding information and documentation in a periodic, continuous or permanent manner may not be established;

XI.

Act, if applicable, as liaison with the inspectors appointed by the President, or exercise the powers with respect to the custodial administrators appointed by the Institute for the Protection of Bank Savings, in the terms established by the laws relating to the Mexican financial system, in order to provide them with support in economic, accounting, legal, administrative, corporate and financial matters, in relation to intervened Entities, when they so request;

XII.

Order the closure of offices and branches of Entities subject to their supervision, in the cases provided for by applicable legal provisions;

XIII.

Request information and documentation from Entities, societies authorized to operate with novel models, Investment Advisors, Exchange Centers, Money Transmitters or Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission, regarding their shareholders and related persons with respect to the activities of said Entities, societies authorized to operate with novel models, Investment Advisors, Exchange Centers, Money Transmitters or Unregulated Multiple-Object Financial Societies in accordance with applicable legal provisions;

XIV.

Issue the enforcement measures provided for in the laws relating to the Mexican financial system to enforce their determinations;

XV.

Issue certifications of the documents held in their files, and

XVI.

Exercise the powers delegated to them by the President, through a delegatory agreement published in the Official Journal of the Federation and others provided for in these Regulations.

Article 20.- The General Directorates of Supervision of Groups and Financial Intermediaries A, B, C, D, E and F; of Supervision of Development Banking and Promotion Entities; of Supervision of Credit Unions; of Supervision of Savings and Loan Cooperatives A and B; of Supervision of Popular Financial Societies A and B; of Investment Administration; of Supervision of Entities and Stock Intermediaries; of Issuers; of Methodologies and Risk Analysis; of Supervision of Network Participants; of Supervision of Market Participants' Conduct and of Supervision of Fintech Institutions, through their heads, within their area of competence and without prejudice to the supervisory powers referred to in articles 18 and 19 of these Regulations, may exercise with respect to natural or legal persons who, without being Entities, carry out activities foreseen in the laws of the Mexican financial system, that are contracted by Entities to provide services in accordance with said laws, or are representative offices of foreign financial entities, and in these cases are subject to the supervision of the Commission, in terms of the applicable legal frameworks, the following powers:

Order the carrying out of inspection visits, as well as carry out monitoring, for which they may carry out the review, verification, verification and evaluation of operations and audit of records or processes, including those that are in automated systems, within their area of competence, in accordance with the laws of the Mexican financial system, these Regulations and other applicable legal provisions;

II.

Inform their hierarchical superior of the results of the supervision;

III.

Issue the necessary measures so that the persons and representative offices of foreign financial entities referred to in this article, in terms of applicable legal provisions and within their area of competence, adjust their activities and operations to the laws applicable to them, to the general provisions derived from them, to commercial, stock and banking usages, to sound practices of financial markets and other legal frameworks;

IV.

Require the appearance, within their area of competence and in terms of applicable legal provisions, of persons who hold any position, mandate, commission or any other legal title that, for the performance of their activities and operations, the legal persons subject to the supervision of the Commission have granted them;

Specify the form and terms in which the persons and representative offices of foreign financial entities referred to in this article, will be obliged to provide to the Commission itself, the data, reports, records, minute books, auxiliaries, documents, correspondence and, in general, the information and documentation they deem necessary for the exercise of their inspection and monitoring powers, in accordance with applicable legal provisions and within their area of competence. In the administrative acts through which this power is exercised, the obligation to provide the corresponding information and documentation in a periodic, continuous or permanent manner may not be established;

VI.

Request information and documentation from the persons referred to in this article, regarding their shareholders and related persons with respect to the activities of such persons, and

VII.

Issue the enforcement measures provided for in the laws relating to the Mexican financial system to enforce their determinations.

Article 21.- The General Directorates of Supervision of Groups and Financial Intermediaries A, B, C, D, E and F, through their heads, shall exercise the following powers:

Carry out the supervision of:

Controlling societies of financial groups, whether or not they have the status of subsidiaries, subject to the supervision of the Commission, in terms of the LRAF. This, in accordance with the competence determined by the President, in terms of article 13, last paragraph of these Regulations;

Sub-controlling societies of financial groups, subject to the supervision of the Commission, in terms of the LRAF. This, in accordance with the competence determined by the President, in terms of article 13, last paragraph of these Regulations;

Multiple banking institutions, whether or not they have the status of subsidiaries;

Regulated multiple-object financial societies;

Exchange houses and general warehouses, whether or not they have the status of subsidiaries;

Representative offices of foreign financial entities referred to in the LIC;

Other natural or legal persons who, without being Entities referred to in this fraction, carry out activities foreseen in the LRAF, LIC and LGOAAC, or who are contracted by said Entities to provide services in accordance with the mentioned laws, and in both cases, are subject to the supervision of the Commission;

Companies that provide complementary or auxiliary services in the administration of the

Entities referred to in items a) and c) of this subsection, as well as the real estate companies of these, unless they are participants in networks referred to in the LTOSF, and

Banking self-regulatory organizations;

II.

Exercise the powers indicated in Articles 18, 19 and 20 of these Regulations, with respect to the Entities, offices of representation of foreign financial entities and persons referred to in the preceding subsection;

III.

Authorize and, where appropriate, approve the acts that, in accordance with the LRAF, the LIC, the LGOAAC, the LMV, the LRITF and the general provisions emanating from these laws, correspond to be granted to the Commission, with respect to the Entities, offices of representation of foreign financial entities and persons referred to in subsection I of this article, provided that the exercise of this power is not expressly reserved to the Board of Directors. This power shall be exercised by analyzing and ruling on the operational, economic, financial and administrative aspects of the acts subject to its competence;

IV.

Issue the opinions that competent authorities request from the Commission, in the administrative authorization and, where appropriate, approval procedures that are followed in accordance with the LRAF, the LIC, the LGOAAC, the LMV, the LRITF and the general provisions emanating from these laws, with respect to the Entities, offices of representation of foreign financial entities and persons referred to in subsection I of this article. This power shall be exercised by analyzing and ruling on the operational, economic, financial and administrative aspects of the acts subject to its competence;

Request the information and documentation that is necessary for the exercise of its powers from stock exchanges, securities depository institutions and central counterparties, in order to verify that securities transactions carried out by credit institutions comply with the provisions applicable to them;

VI.

Supervise compliance with what is provided in the LTFCCG with respect to the Entities referred to in items c) and d) of subsection I of this article, within the scope of competence of the Commission;

VII.

Supervise, with respect to the Entities referred to in items c) and e) of subsection I of this article, the securities intermediation activities with the general public, the sales processes, the internal supervision carried out by the Entity regarding compliance with applicable regulations, promotion of securities and provision of investment services in accordance with the LMV, the LFI and the LIC;

VIII.

Supervise, with respect to the Entities and other persons referred to in items a) to f) and h) to i) of subsection I of this article, the operations or activities of their corporate object, which have authorization to operate through novel models, verifying that the terms, conditions and specifications contained in such authorizations are complied with;

IX.

Prepare the rulings or reports relating to authorizations for the organization and other acts related to the operation, functioning and corporate restructuring or revocation of the Entities referred to in the LRAF, the LIC, the LGOAAC or for the establishment of offices of representation of foreign financial entities referred to in the LIC, within its scope of competence, which must be approved by the Board of Directors;

Prepare the rulings or reports relating to authorizations for the operation with novel models of the Entities and other persons referred to in items a) to f) and h) to i) of subsection I of this article, within its scope of competence, which must be approved by the Board of Directors, and

XI.

Prepare the documentation that the President must present to the Board of Directors so that it designates the controller-manager of the controlling companies and the members of the advisory council referred to in Article 127 of the LRAF.

The heads of the General Directorates of Supervision of Groups and Financial Intermediaries A, B, C, D, E and F may exercise the powers referred to in this article with respect to multiple banking institutions, regulated multiple-purpose financial societies, exchange houses and general warehouses of deposit, grouped in terms of the LRAF or ungrouped, or when they use equal or similar denominations, act jointly, offer complementary services or have common shareholders. Likewise, they may exercise the powers referred to in this article when it comes to popular financial societies or brokerage houses grouped in accordance with the LRAF.

The power referred to in subsection VII of this article when it comes to the distribution of investment funds, will correspond to the General Directorate of Investment Administration.

The powers referred to in subsections III and IV of this article, shall be exercised in coordination with the General Directorate of Authorizations to the Financial System or the General Directorate of Specialized Authorizations, within the scope of their respective competencies, in accordance with the corresponding internal procedures.

Article 22.- To the General Directorate of Supervision of Credit Unions, through its head, the exercise of the following powers will correspond:

Carry out the supervision of:

Credit unions;

Companies that provide complementary or auxiliary services in the administration of the Entities referred to in the previous item, as well as the real estate companies of these latter;

Regulated multiple-purpose financial societies, and

The other natural or legal persons who, without being Entities referred to in this subsection, carry out activities provided for in the LUC or the LGOAAC, or who are contracted by said Entities for the provision of services in accordance with the aforementioned laws and, in both cases, are subject to the supervision of the Commission;

II.

Exercise the powers indicated in Articles 18, 19 and 20 of these Regulations, with respect to the Entities and persons referred to in the preceding subsection;

III.

Authorize and, where appropriate, approve the acts that, in accordance with the LUC, the LGOAAC, the LRITF and the general provisions emanating from these laws, correspond to be granted to the Commission, with respect to the Entities and persons referred to in subsection I of this article, provided that the exercise of this power is not expressly reserved to the Board of Directors. This power shall be exercised by analyzing and ruling on the operational, economic, financial and administrative aspects of the acts subject to its competence;

IV.

Issue the opinions that competent authorities request from the Commission, in the administrative authorization and, where appropriate, approval procedures that are followed in accordance with the LUC, the LGOAAC, the LRITF and the general provisions emanating from these laws, with respect to the Entities and persons referred to in subsection I of this article. This power shall be exercised by analyzing and ruling on the operational, economic, financial and administrative aspects of the acts subject to its competence;

VI.

Supervise, with respect to the Entities and other persons referred to in items a) to c) of subsection I of this article, the operations or activities of their corporate object, which have authorization to operate through novel models, verifying that the terms, conditions and specifications contained in such authorizations are complied with, and

VII.

Prepare the rulings or reports relating to authorizations for the operation with novel models of the Entities and other persons referred to in items a) to c) of subsection I of this article, within its scope of competence, which must be approved by the Board of Directors.

The powers referred to in subsections III and IV of this article, shall be exercised in coordination with the General Directorate of Specialized Authorizations, within the scope of their respective competencies, in accordance with the corresponding internal procedures.

Article 23.- To the General Directorates of Supervision of Popular Financial Societies A and B, through their heads, the exercise of the following powers will correspond:

Carry out the supervision of:

Controlling companies of financial groups, whether or not they have the status of subsidiaries, subject to the supervision of the Commission, in terms of the LRAF. The foregoing, in accordance with the competence determined by the President, in terms of Article 13, last paragraph of these Regulations;

Sub-controlling companies of financial groups, subject to the supervision of the Commission, in terms of the LRAF. The foregoing, in accordance with the competence determined by the President, in terms of Article 13, last paragraph of these Regulations;

Popular financial societies;

Community financial societies with operation levels I to IV;

Rural financial integration organizations;

Federations and Protection Fund of popular financial societies and community financial societies;

Regulated multiple-purpose financial societies, and

The other natural or legal persons who, without being Entities referred to in this subsection, carry out activities provided for in the LACP or the LGOAAC, or who are contracted by said Entities for the provision of services in accordance with the aforementioned laws and, in both cases, are subject to the supervision of the Commission;

II.

Exercise the powers indicated in Articles 18, 19 and 20 of these Regulations, with respect to the Entities, Federations, Protection Fund and persons referred to in the preceding subsection;

III.

Authorize and, where appropriate, approve the acts that, in accordance with the LRAF, the LACP, the LGOAAC, the LRITF and the general provisions emanating from these laws, correspond to be granted to the Commission, with respect to the Entities, Federations, Protection Fund and persons referred to in subsection I of this article, provided that the exercise of this power is not expressly reserved to the Board of Directors. This power shall be exercised by analyzing and ruling on the operational, economic, financial and administrative aspects of the acts subject to its competence;

IV.

Issue the opinions that competent authorities request from the Commission, in the administrative authorization and, where appropriate, approval procedures that are followed in accordance with the LRAF, the LACP, the LGOAAC, the LRITF and the general provisions emanating from these laws, with respect to the Entities, Federations, Protection Fund and persons referred to in subsection I of this article. This power shall be exercised by analyzing and ruling on the operational, economic, financial and administrative aspects of the acts subject to its competence;

Supervise compliance with what is provided in the LTFCCG with respect to the Entities referred to in item c) of subsection I of this article, within the scope of competence of the Commission;

VI.

VII.

Supervise, with respect to the Entities, Federations, Protection Fund and other persons referred to in items c) to g) of subsection I of this article, the operations or activities of their corporate object, which have authorization to operate through novel models, verifying that the terms, conditions and specifications contained in such authorizations are complied with, and

VIII.

Prepare the rulings or reports relating to authorizations for the operation with novel models of the Entities, Federations, Protection Fund and other persons referred to in items c) to g) of subsection I of this article, within its scope of competence, which must be approved by the Board of Directors.

Article 24.- To the General Directorate of Supervision of Development Banking and Promotion Entities, through its head, the exercise of the following powers will correspond:

Carry out the supervision of:

Development banking institutions;

Regulated multiple-purpose financial societies;

The National Financial Entity for Agricultural, Rural, Forestry and Fisheries Development;

The Institute of the National Fund for Workers' Consumption;

The Institute of the National Housing Fund for Workers;

Institutions, public trusts and funds that, in accordance with what is provided in the laws of the Mexican financial system, carry out financial activities and are subject to the supervision of the Commission;

Companies that provide complementary or auxiliary services in the administration of the Entities referred to in item a) of this subsection, as well as the real estate companies of these, and

The other natural or legal persons who, without being Entities referred to in this subsection, carry out activities provided for in the LIC or the LGOAAC, or who are contracted by said Entities for the provision of services in accordance with the aforementioned laws and, in both cases, are subject to the supervision of the Commission;

II.

Exercise the powers indicated in Articles 18, 19 and 20 of these Regulations, with respect to the Entities and persons referred to in the preceding subsection;

III.

Authorize and, where appropriate, approve the acts that, in accordance with the organic laws applicable to development banking institutions, the LIC, the LGOAAC, the LRITF and other laws that so provide, correspond to be granted to the Commission, with respect to the Entities and persons referred to in subsection I of this article, provided that the exercise of this power is not expressly reserved to the Board of Directors. This power shall be exercised by analyzing and ruling on the operational, economic, financial and administrative aspects of the acts subject to its competence;

IV.

Issue the opinions that competent authorities request from the Commission, in the administrative authorization and, where appropriate, approval procedures that are followed in accordance with the organic laws applicable to development banking institutions, the LIC, the LGOAAC, the LRITF and other laws that so provide, with respect to the Entities and persons referred to in subsection I of this article. This power shall be exercised by analyzing and ruling on the operational, economic, financial and administrative aspects of the acts subject to its competence;

Exercise the inspection of national credit societies, in order to verify compliance with the provisions in labor matters applicable to said societies. To this effect, it will have the powers referred to in the Regulatory Law of Fraction XIII Bis of Section B of Article 123 of the Political Constitution of the United Mexican States and other laws;

VI.

Supervise, when appropriate, compliance with what is provided in the LTFCCG with respect to the Entities and persons referred to in subsection I of this article, within the scope of competence of the Commission;

VII.

Supervise, with respect to the Entities and other persons referred to in items a) to g) of subsection I of this article, the operations or activities of their corporate object, which have authorization to operate through novel models, verifying that the terms, conditions and specifications contained in such authorizations are complied with, and

VIII.

Prepare the rulings or reports relating to authorizations for the operation with novel models of the Entities and other persons referred to in items a) to g) of subsection I of this article, within its scope of competence, which must be approved by the Board of Directors.

Article 25.- To the General Directorates of Supervision of Savings and Loan Cooperatives A and B, through their heads, the exercise of the following powers will correspond:

Carry out the supervision of:

Savings and loan cooperative societies with operation levels I to IV;

Protection Fund of savings and loan cooperative societies;

Regulated multiple-purpose financial societies, and

The other natural or legal persons who, without being Entities referred to in this subsection, carry out activities provided for in the LRASCAP or the LGOAAC, or who are contracted by said Entities for the provision of services in accordance with the aforementioned laws and, in both cases, are subject to the supervision of the Commission;

II.

Exercise the powers indicated in Articles 18, 19 and 20 of these Regulations, with respect to the Entities, Protection Fund and persons referred to in the preceding subsection;

III.

Authorize and, where appropriate, approve the acts that, in accordance with the LRASCAP, the LGOAAC, the LRITF and the general provisions emanating from these laws, correspond to be granted to the Commission, with respect to the Entities, Protection Fund and persons referred to in subsection I of this article, provided that the exercise of this power is not expressly reserved to the Board of Directors. This power shall be exercised by analyzing and ruling on the operational, economic, financial and administrative aspects of the acts subject to its competence;

IV.

Issue the opinions that competent authorities request from the Commission, in the administrative authorization and, where appropriate, approval procedures that are followed in accordance with the LRASCAP, the LGOAAC, the LRITF and the general provisions emanating from these laws, with respect to the Entities, Protection Fund and persons referred to in subsection I of this article. This power shall be exercised by analyzing and ruling on the operational, economic, financial and administrative aspects of the acts subject to its competence;

Supervise compliance with what is provided in the LTFCCG with respect to the Entities referred to in item a) of subsection I of this article, within the scope of competence of the Commission;

VI.

Prepare the rulings or reports relating to authorizations to carry out or continue carrying out savings and loan operations and other acts related to the operation, functioning and corporate restructuring or revocation of the Entities referred to in the LRASCAP, within its scope of competence, which must be approved by the Board of Directors;

VII.

VIII.

Article 26.- To the General Directorate of Supervision of Securities Entities and Intermediaries, through its head, the exercise of the following powers will correspond:

Carry out the supervision of:

Stock exchanges and financial derivative instruments;

Central counterparties of securities, as well as the clearing house for financial derivative instruments;

Securities depository institutions;

Securities rating institutions;

Brokerage houses, whether or not they have the status of subsidiaries;

Offices of representation of foreign brokerage houses referred to in the LMV;

Liquidating partners and participating operators of the financial derivative instruments market;

Price providers;

Companies that administer systems to facilitate securities transactions and those that implement trading systems when it comes to Entities, except for systems offered through Financial Technology Institutions;

Self-regulatory organizations of the securities market;

The other natural or legal persons who, without being Entities referred to in this subsection, carry out activities provided for in the LMV, or who are contracted by said Entities for the provision of services in accordance with the aforementioned law and, in both cases, are subject to the supervision of the Commission, and

Companies that provide complementary or auxiliary services in the administration of the Entities referred to in item g) of this subsection, as well as the real estate companies of these;

II.

Exercise the powers indicated in Articles 18, 19 and 20 of these Regulations, with respect to the Entities, offices of representation and persons referred to in the preceding subsection;

III.

Authorize and, where applicable, approve the acts that, in accordance with the LRAF, the LMV, the LRITF, and the general provisions emanating from these laws, as well as the legal or administrative provisions applicable to the market for derivative financial instruments, correspond to be granted to the Commission, with respect to the Entities, representative offices, and persons referred to in fraction I of this article, provided that the exercise of this attribution is not expressly reserved to the Board of Directors. This attribution shall be exercised by analyzing and issuing opinions on the operational, economic, financial, and administrative aspects of the acts subject to its competence;

IV.

Issue the opinions that competent authorities request from the Commission, in the administrative authorization and, where applicable, approval procedures that are conducted in accordance with the LRAF, the LMV, the LRITF, and the general provisions emanating from these laws, as well as the legal or administrative provisions applicable to the market for derivative financial instruments, with respect to the Entities, representative offices, and persons referred to in fraction I of this article. This attribution shall be exercised by analyzing and issuing opinions on the operational, economic, financial, and administrative aspects of the acts subject to its competence;

Supervise, with respect to the Entities referred to in subsection g) of fraction I of this article, the securities intermediation activities with the general public, the sales processes, the internal supervision carried out by the Entity regarding compliance with applicable regulations, the promotion of securities and the provision of investment services, in accordance with the LMV and the LFI;

VI.

Supervise, with respect to the Entities and other persons referred to in subsections a) to l) and n) of fraction I of this article, the operations or activities of their corporate purpose, which have authorization to operate through innovative models, verifying that the terms, conditions, and specifications contained in such authorizations are complied with;

VII.

Prepare the opinions or reports regarding authorizations for the organization and other acts related to the operation, functioning, and corporate restructuring or revocation of the Entities referred to in the LMV and the legal or administrative provisions applicable to the market for derivative financial instruments, or for the establishment of representative offices of foreign brokerage houses referred to in the LMV, within its scope of competence, which must be approved by the Board of Directors, and

VIII.

Prepare the opinions or reports regarding authorizations for the operation with innovative models of the Entities and other persons referred to in subsections a) to l) and n) of fraction I of this article, within its scope of competence, which must be approved by the Board of Directors.

The attribution referred to in fraction V of this article, when it concerns the distribution of investment funds, shall correspond to the General Directorate of Investment Administration.

The attributions referred to in fractions III and IV of this article shall be exercised in coordination with the General Directorate of Authorizations to the Financial System or the General Directorate of Specialized Authorizations, within the scope of their respective competencies, in accordance with the corresponding internal procedures.

Article 27.- To the General Directorate of Investment Administration, through its head, shall correspond the exercise of the following attributions:

Carry out the supervision of:

Investment funds;

Distributing companies of investment fund shares, whether or not they have the status of subsidiaries;

Share valuation companies of investment funds;

Operating companies of investment funds, whether or not they have the status of subsidiaries;

Independent investment advisors and those Investment Advisors whose shareholders, partners, members of the board of directors, executives, attorneys, or employees participate in the capital or in the administration bodies or have a dependency relationship with the Entities referred to in subsections b) and d) of this fraction, as well as with multiple banking institutions, whether or not they have the status of subsidiaries, brokerage houses, whether or not they have the status of subsidiaries, and securities rating agencies, and

Other natural or legal persons who, without being Entities referred to in this fraction, carry out activities provided for in the LFI, or who are hired by said Entities for the provision of services in accordance with the mentioned law, and in both cases, are subject to the supervision of the Commission;

II.

Exercise the attributions indicated in articles 18, 19, and 20 of this Regulation, with respect to the Entities and persons referred to in the previous fraction;

III.

Authorize and, where applicable, approve the acts that, in accordance with the LIC, the LFI, the LMV, the LRITF, and the general provisions emanating from these laws, correspond to be granted to the Commission, with respect to the Entities and persons referred to in fraction I of this article, provided that the exercise of this attribution is not expressly reserved to the Board of Directors. This attribution shall be exercised by analyzing and issuing opinions on the operational, economic, financial, and administrative aspects of the acts subject to its competence;

IV.

Revoke the authorizations of investment funds in accordance with the LFI and the general provisions emanating from it. This attribution shall be exercised by analyzing and issuing opinions on the operational, economic, financial, and administrative aspects of the acts subject to its competence;

Issue the opinions that competent authorities request from the Commission, in the administrative authorization and, where applicable, approval procedures that are conducted in accordance with the LIC, the LFI, the LMV, the LRITF, and the general provisions emanating from these laws, with respect to the Entities and persons referred to in fraction I of this article. This attribution shall be exercised by analyzing and issuing opinions on the operational, economic, financial, and administrative aspects of the acts subject to its competence;

VI.

Monitor the correct disclosure to the public of the financial, economic, accounting, legal, operational, and corporate information of the Entities indicated in fraction I of this article, which, in accordance with legal provisions, must disclose such information;

VII.

Supervise, with respect to the natural or legal persons referred to in subsections b), d), e), and f) of fraction I of this article, who carry out securities intermediation activities with the general public, sales and investment administration processes, the provision of investment services, the activity of distributing investment fund shares, as well as securities portfolio management activities, providing advice and promotion, the internal supervision carried out by persons regarding compliance with applicable regulations, and, where applicable, decision-making on behalf and for the account of third parties with respect to securities, as applicable, in accordance with the LMV, the LFI, and the LIC;

VIII.

Request, in accordance with applicable legal provisions, information from stock exchanges, securities depository institutions, central counterparties for securities, and clearing houses for the market for derivative financial instruments, in order to verify that the securities operations carried out by the Entities referred to in fraction I of this article comply with applicable legal provisions;

IX.

Supervise, with respect to the Entities and other persons referred to in subsections a) to e) of fraction I of this article, the operations or activities of their corporate purpose, which have authorization to operate through innovative models, verifying that the terms, conditions, and specifications contained in such authorizations are complied with;

Prepare the opinions or reports regarding authorizations for the organization and other acts related to the operation, functioning, and corporate restructuring or revocation of the Entities referred to in the LFI, which must be approved by the Board of Directors. This attribution shall be exercised by analyzing and issuing opinions on the operational, economic, financial, and administrative aspects of the acts subject to its competence;

XI.

Prepare the opinions or reports regarding authorizations for the operation with innovative models of the Entities and other persons referred to in subsections a) to e) of fraction I of this article, within its scope of competence, which must be approved by the Board of Directors, and

XII.

Analyze the information and documentation that Entities and persons referred to in fraction I of this article periodically send, regarding the activities of securities portfolio administration services making investment decisions on behalf and for the account of third parties and investment advice on securities, analysis and issuance of investment recommendations, to verify compliance with the LIC, the LMV, the LFI, and general provisions emanating from them.

The attributions referred to in fractions III, except when it comes to the information prospectus for investor public and its modifications, as well as IV and V of this article shall be exercised in coordination with the General Directorate of Stock Market Legal Affairs, the General Directorate of Authorizations to the Financial System, or the General Directorate of Specialized Authorizations, within the scope of their respective competencies, in accordance with the corresponding internal procedures.

Article 28.- To the General Directorate of Stock Market Legal Affairs, through its head, shall correspond the exercise of the following attributions:

II.

Intervene in the administrative procedures for registration, update, suspension, or cancellation in the National Securities Register and, where applicable, for the authorization of public or private offers of securities in terms of the LMV and the general provisions emanating from it. This attribution shall be exercised by analyzing and issuing opinions regarding the legality of the acts subject to its competence;

III.

Participate, in the terms established by the laws and general provisions applicable, in the formalization acts of fiduciary development bond certificates under the capital call mechanism, bond and subordinated obligation issuances by Entities, as well as participation certificates;

IV.

Authorize and, where applicable, approve the acts that, in accordance with the LFI and the general provisions emanating from it, correspond to be granted to the Commission, exclusively with respect to investment funds, unless it concerns the application of special accounting criteria. This attribution shall be exercised by analyzing and issuing opinions regarding the legality of the acts subject to its competence, provided that the exercise of this attribution is not expressly reserved to the Board of Directors;

Revoke the authorizations of investment funds in accordance with the LFI and the general provisions emanating from it. This attribution shall be exercised by analyzing and issuing opinions regarding the legality of the acts subject to its competence;

VI.

Authorize attorneys to operate in the stock exchange and to carry out operations with the public, in terms of the LMV, LFI, and the general provisions emanating from them;

VII.

Draw up the constitutive act of investment funds;

VIII.

Request the necessary documentation and information for the exercise of the attributions referred to in fractions II, III, IV, V, VI, and VII of this article, in accordance with applicable legal provisions;

IX.

Indicate the form and terms in which Entities, Investment Advisors, and other natural or legal persons subject to the supervision of the Commission, shall be obliged to provide to the Commission, the data, reports, records, minute books, auxiliaries, documents, correspondence, and, in general, the information and documentation deemed necessary for the exercise of its attributions, including that which, in terms of the laws relative to the Mexican financial system, is protected by some type of secrecy. In the administrative acts through which this attribution is exercised, the obligation to provide the corresponding information and documentation in a periodic, continuous, or permanent manner shall not be established;

Propose to the General Directorate of Crimes and Sanctions, the application of sanctions and, where applicable, the imposition of precautionary measures that, as a result of the corresponding sanctions, are appropriate within the scope of its attributions;

XI.

Issue certifications of the documents held in its files;

XII.

Maintain the Public Register of Investment Advisors, as well as register the natural or legal persons that meet the requirements provided in the LMV to operate as Investment Advisors, and carry out the annotations that must be recorded in said Register in accordance with what is established in the LMV, and

XIII.

Exercise the attributions delegated to it by the President, through a delegatory agreement published in the Official Journal of the Federation and those otherwise provided in this Regulation.

The attribution referred to in fraction I of this article shall be exercised in coordination with the General Directorate of Market Participant Conduct Supervision and, to the extent deemed necessary, with the General Directorate of Crimes and Sanctions, within the scope of their respective competencies, in accordance with the corresponding internal procedures.

The attributions referred to in fractions IV, V, and XII of this article shall be exercised in coordination with the General Directorate of Investment Administration, within the scope of their respective competencies, in accordance with the corresponding internal procedures.

Article 29.- To the General Directorate of Issuers, through its head, shall correspond the exercise of the following attributions:

Maintain the National Securities Register, issue certifications of the records held in it, as well as modify the registrations found in said Register;

II.

Authorize the registration, update, suspension, or cancellation of securities in the National Securities Register. For this purpose, the necessary documentation and information may be requested, including that which is relevant, in order to comply with applicable legal provisions;

III.

Authorize the public offer of securities in Mexico, as well as determine the suspension or cancellation of securities;

IV.

Determine the inadmissibility of requests regarding the registration or cancellation of securities in the National Securities Register or, where applicable, the public offer thereof, when such requests do not meet the applicable requirements;

Approve, where applicable, those securities that may be the subject of institutional investment, as well as to leave such approval without effect;

VI.

Issue an opinion to the Ministry of Finance and Public Credit on the securities that are considered placed among the investing public;

VII.

Authorize the dissemination of information for purposes of promotion, marketing, and advertising on securities directed to the general public. Likewise, order the suspension, cancellation, or rectification of such information;

VIII.

Carry out the supervision of:

The issuers of securities registered in the National Securities Register, in terms of article 4, fraction XXX of the LCNBV, and

Other natural or legal persons who are hired by the issuers of securities registered in the National Securities Register and are subject to the supervision of the Commission in terms of the LMV;

IX.

Exercise the attributions indicated in articles 18, 19, and 20 of this Regulation, with respect to the issuers and other persons referred to in the previous fraction;

Authorize and, where applicable, approve the acts that, in accordance with the LMV and the general provisions emanating from this law, correspond to be granted to the Commission, with respect to securities issuers, provided that the exercise of this attribution is not expressly reserved to the Board of Directors. This attribution shall be exercised by analyzing and issuing opinions on the operational, economic, financial, and administrative aspects of the acts subject to its competence;

XI.

Monitor that the administrative, economic, accounting, financial, and legal information and documentation of the issuers of securities registered in the National Securities Register, is provided to the Commission in a timely manner and in accordance with applicable legal provisions;

XII.

Determine if the modifications made to a voluntary public acquisition offer and its characteristics, in accordance with what is provided in fraction III of article 97 of the LMV, are relevant for the purpose of extending the deadline for this;

XIII.

Attend the assemblies referred to in fraction II of the third paragraph of article 351 of the LMV;

XIV.

Concur with the General Directorates of Provisions and Regulatory Development, the elaboration of regulation applicable to the issuers of securities registered in the National Securities Register subject to the supervision of this General Directorate, including that relating to the registration of investment funds;

XV.

XVI.

Request the necessary documentation and information for the exercise of the attributions referred to in fractions III, VII, X, and XII of this article, in accordance with applicable legal provisions.

The attributions referred to in fractions II, III, IV, X, XII, and XIII of this article shall be exercised in coordination with the General Directorate of Stock Market Legal Affairs, within the scope of their respective competencies, in accordance with the corresponding internal procedures.

Article 30.- To the General Directorate of Market Participant Conduct Supervision, through its head, shall correspond the exercise of the following attributions:

Cooperate in the supervision, at the request of the General Directorates of Supervision of Groups and Financial Intermediaries A, B, C, D, E, and F, the General Directorate of Investment Administration, and the General Directorate of Supervision of Entities and Stock Market Intermediaries, with respect to the activities carried out by the Entities related to securities intermediation with the general public, the sales processes, the internal supervision carried out by the Entity regarding compliance with applicable regulations, the promotion of securities and the provision of investment services, as well as the activity of distributing investment fund shares, in accordance with the LMV, LIC, and LFI;

II.

Conduct investigation visits to the Entities that carry out the activities referred to in fraction I of this article, for which it may exercise the attributions indicated in articles 18, 19, and 20 of this Regulation, with respect to said Entities;

III.

Authorize and, where applicable, approve the acts that, in accordance with the LMV, the LIC, the LFI, the LRITF, and the general provisions emanating from these laws, correspond to be granted to the Commission, with respect to the Entities that carry out the activities referred to in fraction I of this article, provided that the exercise of this attribution is not expressly reserved to the Board of Directors. This attribution shall be exercised by analyzing and issuing opinions on the operational, economic, financial, and administrative aspects of the acts subject to its competence;

IV.

Issue the opinions that competent authorities request from the Commission, in the administrative authorization and, where applicable, approval procedures that are conducted in accordance with the LMV, the LIC, the LFI, the LRITF, and the general provisions emanating from these laws, with respect to the Entities that carry out the activities referred to in fraction I of this article. This attribution shall be exercised by analyzing and issuing opinions on the operational, economic, financial, and administrative aspects of the acts subject to its competence;

Analyze the information and documentation sent by the Entities that carry out the activities referred to in fraction I of this article, to verify compliance with the LIC, the LMV, the LFI, and general provisions emanating from them;

VI.

Request, in accordance with applicable legal provisions, information and documentation from stock exchanges, securities depository institutions, central counterparties for securities, and clearing houses for the market for derivative financial instruments, in order to verify that the securities operations carried out by the Entities that carry out the activities referred to in fraction I of this article comply with applicable legal provisions;

VII.

Request the appearance of alleged offenders and other persons who may contribute to the adequate development of the investigation of acts or facts that contravene what is provided in the LMV, the general provisions emanating from it, and the legal or administrative provisions applicable to the market for derivative financial instruments. Likewise, this attribution may be exercised with respect to acts or facts that contravene what is provided in the LIC, the LMV, and the LFI with respect to the activities of Independent Investment Advisors, as well as those referred to in fraction I of this article.

For the purposes of the foregoing, it may request and gather the data, reports, records, minute books, auxiliaries, documents, correspondence, and, in general, the information and documentation deemed necessary with respect to the Entities and persons referred to in the previous paragraph;

VIII.

Investigate the improper use of insider information, the dissemination of false information, market manipulation, non-compliance with accounting criteria and corporate governance practices, and other acts contrary to the legal regulations applicable to the markets for securities and derivative financial instruments traded on the stock exchange, as well as to the sound uses and practices of said markets;

IX.

Define the methodology and procedures to carry out the investigation activities referred to in subsection VIII of this article, and

Follow up on the dynamics of the securities markets and of derivative financial instruments traded on the exchange.

The attributions referred to in subsections III and IV of this article shall be exercised in coordination with the General Directorate of Authorizations to the Financial System or the General Directorate of Specialized Authorizations, within the scope of their respective competencies, in accordance with the corresponding internal procedures.

The attributions referred to in subsections VII and VIII of this article shall be exercised in coordination with the General Directorate of Stock Market Legal Affairs or the General Directorate of Crimes and Sanctions, within the scope of their respective competencies, in accordance with the corresponding internal procedures.

Article 31.- To the General Directorate of Risk Methodologies and Analysis, through its head, the exercise of the following attributions shall correspond:

Establish the methodologies that the competent general directorates must observe for the supervision of the various risks to which, in terms of the prudential provisions issued by the Commission, the Entities are exposed;

II.

Develop and apply an integral risk measurement system for the risks to which the Entities are exposed, in terms of the prudential provisions issued by the Commission;

III.

Monitor the different risk factors established in the prudential provisions issued by the Commission, which affect the risk exposure of the Mexican financial system and its Entities, as well as provide information and analysis to the competent general directorates for the supervision of said Entities;

IV.

Prepare and, where applicable, publish statistics and relevant aspects of the risk exposure that, in terms of the prudential provisions issued by the Commission, the Entities subject to its supervision have;

Prepare the necessary studies to examine procedures, techniques, best practices and trends in the international field regarding risk analysis to which the Entities are exposed and propose their incorporation into the regulation applicable to said Entities;

VI.

Authorize the acts provided for in the prudential provisions issued by the Commission, in matters of risk. This attribution shall be exercised by analyzing and ruling on the operational, economic, financial and administrative aspects of the acts subject to its competence;

VII.

Supervise the correct application of the support agreements or programs for debtors that the Federal Government and the Entities celebrate for this purpose;

VIII.

Propose to the General Directorates of Provisions and Regulatory Development, the preparation of regulation applicable in matters of risk to the Entities subject to the supervision of the Commission, and

IX.

Prepare reports on the situation of the Entities, the financial system and markets, within the scope of its competence.

The attribution referred to in subsection V of this article shall be exercised in coordination with the General Directorate of International Affairs within the scope of their respective competencies, in accordance with the corresponding internal procedures.

The attribution referred to in subsection VI of this article shall be exercised in coordination with the competent supervision general directorates and the General Directorate of Authorizations to the Financial System or the General Directorate of Specialized Authorizations, within the scope of their respective competencies, in accordance with the corresponding internal procedures.

The General Directorate of Risk Methodologies and Analysis may make known the result of the exercise of the attributions referred to in this article, to the Entities subject to its supervision through the general directorates referred to in article 18 of this Regulation.

Article 32.- To the General Directorate of Operational and Technological Risk Supervision, through its head, the exercise of the following attributions shall correspond:

Supervise and evaluate the equipment, facilities and computing components, communication networks, operating systems, databases, applications and systems that support the operation of the Entities, societies authorized to operate with novel models, Investment Advisors, participants in networks referred to in the LTOSF, Currency Exchanges, Money Transmitters and Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission;

II.

Supervise and evaluate the internal controls, as well as compliance with the applicable legal provisions in matters of automated systems of the Entities, societies authorized to operate with novel models, Investment Advisors, participants in networks referred to in the LTOSF, Currency Exchanges, Money Transmitters and Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission;

III.

Supervise and evaluate that the Entities have the capacity to identify, measure, classify, monitor, limit, control, report and disclose operational and technological risk in accordance with the prudential provisions issued by the Commission;

IV.

Authorize the personnel assigned to it so that, during the practice of an inspection visit, it can request the information and documentation it deems necessary;

Propose the necessary measures so that the Entities, societies authorized to operate with novel models, Investment Advisors, participants in networks referred to in the LTOSF, Currency Exchanges, Money Transmitters and Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission, implement preventive, control and audit mechanisms, aimed at preventing and detecting in a timely manner the irregular operations carried out through equipment, facilities and computing components, communication networks, operating systems, databases, applications and systems that support the operation or failures in the operation of these that could put at risk the resources of the users of financial services and of the Entities themselves or subjects and persons referred to in this subsection;

VI.

Supervise compliance with what is provided in the LRITF regarding the Entities and other persons subject to the supervision of the Commission, obliged to establish standardized application programming interfaces that enable the connectivity and access of other interfaces developed or administered by the same subjects referred to in article 76 of the LRITF.

For the purposes of what is provided in this subsection, it may request the information and documentation necessary from the Entities and other persons referred to in the previous paragraph, as well as order said Entities and persons to carry out audits to the third parties with whom they exchange data and information through standardized application programming interfaces in accordance with the LRITF;

VII.

Indicate the form and terms in which the Entities, societies authorized to operate with novel models, Investment Advisors, participants in networks referred to in the LTOSF, Currency Exchanges, Money Transmitters and Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission, will be obliged to provide it with the data, reports, records, minute books, auxiliaries, documents, correspondence and, in general, the information and documentation it deems necessary for the exercise of its supervisory attributions, within the scope of its competence, including the information and documentation relative to the holder or beneficiary corresponding to the operations and services carried out by said Entities, societies authorized to operate with novel models, Investment Advisors, participants in networks referred to in the LTOSF, Currency Exchanges, Money Transmitters or Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission, which in terms of the laws relative to the Mexican financial system are protected by some type of secrecy. In the administrative acts through which this attribution is exercised, the obligation to provide the corresponding information and documentation in a periodic, continuous or permanent manner may not be established;

VIII.

Dictate the enforcement measures provided for in the laws relative to the Mexican financial system to enforce its determinations;

IX.

Propose to the General Directorates of Provisions and Regulatory Development, the preparation of regulation applicable to the Entities, societies authorized to operate with novel models, Investment Advisors and participants in networks referred to in the LTOSF subject to the supervision of this General Directorate;

XI.

Issue the opinions that, in matters of operational and technological risk, are requested by the competent supervision general directorates, in the administrative authorization procedures of Entities, societies authorized to operate with novel models, Investment Advisors, participants in networks referred to in the LTOSF, Currency Exchanges, Money Transmitters and Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission;

XII.

Issue certifications of the documents held in its files, and

XIII.

Exercise the attributions delegated to it by the President, through a delegation agreement published in the Official Journal of the Federation and those otherwise provided for in this Regulation.

For the purposes of what is provided in this article, operational and technological risk shall be understood as the potential loss due to failures or deficiencies in internal controls, errors in the processing and storage of operations or in the transmission of information, as provided in the prudential provisions issued by the Commission.

The attributions referred to in subsections I to V, VII and VIII of this article shall be exercised in coordination with the supervision general directorates within the scope of their respective competencies, including the practice of inspection visits, in accordance with the corresponding internal procedures.

The General Directorate of Operational and Technological Risk Supervision may make known the result of the exercise of the attributions referred to in this article, to the Entities, societies authorized to operate with novel models, Investment Advisors, participants in networks referred to in the LTOSF, Currency Exchanges, Money Transmitters and Unregulated Multiple-Object Financial Societies subject to its supervision, directly or through the general directorates referred to in article 18 of this Regulation.

Article 33.- To the General Directorate of Information Security Supervision, through its head, the exercise of the following attributions shall correspond:

Supervise and evaluate that the Entities, societies authorized to operate with novel models, Investment Advisors, participants in networks referred to in the LTOSF, Currency Exchanges, Money Transmitters and Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission, implement the information security risk management system which includes, among other things, the performance of vulnerability or penetration tests of their equipment, facilities and computing components, communication networks, operating systems, databases, applications and systems that support their operation, necessary to preserve the security of information in accordance with the provisions issued for this purpose by the Commission;

II.

Supervise and evaluate the internal controls, as well as compliance with the applicable legal provisions in matters of information security of the Entities, societies authorized to operate with novel models, Investment Advisors, participants in networks referred to in the LTOSF, Currency Exchanges, Money Transmitters and Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission, including, in addition, the aspects linked to the confidentiality, integrity and availability of the information processed, transmitted or stored by the technological infrastructure, including that contracted with third parties;

III.

Authorize the personnel assigned to it so that, during the practice of an inspection visit, it can request the information and documentation it deems necessary;

IV.

Establish the necessary measures and mechanisms to preserve the security of the information of the Entities, societies authorized to operate with novel models, Investment Advisors, participants in networks referred to in the LTOSF, Currency Exchanges, Money Transmitters and Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission, as well as agree with the General Directorate of Informatics the measures and mechanisms to preserve the security of the information of the Commission itself;

Carry out supervision actions to investigate the Entities, societies authorized to operate with novel models, Investment Advisors, participants in networks referred to in the LTOSF, Currency Exchanges, Money Transmitters and Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission, when there are indications from which it can be inferred the commission of any conduct that could affect the security of the information of said Entities or subjects, which presumably contravenes the laws and other applicable legal provisions;

VI.

Coordinate with other financial and law enforcement authorities, as well as with the Entities themselves, societies authorized to operate with novel models, Investment Advisors, participants in networks referred to in the LTOSF, Currency Exchanges, Money Transmitters and Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission, the necessary actions in order to prevent and detect irregular operations related to information security or its users;

VII.

Indicate the form and terms in which the Entities, societies authorized to operate with novel models, Investment Advisors, participants in networks referred to in the LTOSF, Currency Exchanges, Money Transmitters and Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission will be obliged to provide it with the data, reports, records, minute books, auxiliaries, documents, correspondence and in general, the information and documentation it deems necessary for the exercise of its supervisory attributions, within the scope of its competence, including the information and documentation relative to the holder or beneficiary corresponding to the operations and services carried out by said Entities, societies authorized to operate with novel models or Investment Advisors, participants in networks referred to in the LTOSF, Currency Exchanges, Money Transmitters or Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission which in terms of the laws relative to the Mexican financial system are protected by some type of secrecy. In the administrative acts through which this attribution is exercised, the obligation to provide the corresponding information and documentation in a periodic, continuous or permanent manner may not be established;

VIII.

Dictate the enforcement measures provided for in the laws relative to the Mexican financial system to enforce its determinations;

IX.

Propose to the General Directorates of Provisions and Regulatory Development, within the scope of their competence, the preparation of regulation applicable to the Entities, societies authorized to operate with novel models, Investment Advisors and participants in networks referred to in the LTOSF subject to the supervision of this General Directorate;

XI.

Issue the opinions that, in matters of information security, are requested by the competent supervision general directorates, in the administrative authorization procedures of Entities, societies authorized to operate with novel models, Investment Advisors, participants in networks referred to in the LTOSF, Currency Exchanges, Money Transmitters and Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission;

XII.

Issue certifications of the documents held in its files, and

XIII.

Exercise the attributions delegated to it by the President, through a delegation agreement published in the Official Journal of the Federation and those otherwise provided for in this Regulation.

The attributions referred to in subsections I, II, III, V, VII and VIII of this article shall be exercised in coordination with the supervision general directorates within the scope of their respective competencies, including the practice of inspection visits, in accordance with the corresponding internal procedures.

Article 34.- To the General Directorate of Analysis and Information, through its head, the exercise of the following attributions shall correspond:

Prepare and disseminate financial statistics and analyses regarding the Entities subject to the supervision of the Commission.

Likewise, it may prepare and disseminate statistics regarding Investment Advisors, societies authorized to operate with novel models, Currency Exchanges, Money Transmitters and Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission, as well as financial markets, solvency, stability and liquidity indicators.

Likewise, it may carry out and disseminate studies and market scenario estimates that allow the comparability of information, within the scope of its attributions;

II.

Develop financial and economic analysis tools and information exploitation tools for the Entities and Investment Advisors subject to the supervision of the Commission, in order to support the surveillance functions.

Likewise, it may develop information exploitation tools for the societies authorized to operate with novel models, Currency Exchanges, Money Transmitters and Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission, in order to support the surveillance functions;

III.

Carry out, in coordination with the General Directorate of International Affairs, the exchange of information in matters of indicators and financial analysis requested by supervisory and regulatory institutions of other countries, in accordance with the laws, international treaties and agreements or conventions that the Commission has celebrated for this purpose with international organizations with supervisory and regulatory functions similar to those of this;

IV.

Receive, verify and control that the regulatory, accounting and financial information and documentation is provided to the Commission in a timely manner and in accordance with the applicable legal provisions;

Update the Commission's databases with the information that the Entities, societies authorized to operate with novel models, Investment Advisors, Federations, Protection Funds, Currency Exchanges, Money Transmitters and Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission send periodically, and which serves for the exercise of the attribution referred to in subsection I of this article.

Likewise, it may publish representative samples of the databases referred to in the previous paragraph, relative to the operations and services of the Entities, societies authorized to operate with novel models, Investment Advisors, Federations, Protection Funds, Currency Exchanges, Money Transmitters and Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission, or of segments of the markets of the Mexican financial system, provided that the corresponding information does not contain reserved or confidential information in terms of the applicable legal provisions;

VI.

Develop and implement database administration and exploitation tools for the Commission, to generate in a timely manner the information required for the adequate performance of the supervision and analysis attributions of the Entities, societies authorized to operate with novel models, Investment Advisors, Federations, Protection Funds, Currency Exchanges, Money Transmitters and Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission;

VII.

Indicate the form and terms in which the Entities, societies authorized to operate with novel models, Investment Advisors, Federations, Protection Funds, Currency Exchanges, Money Transmitters and Unregulated Multiple-Object Financial Societies and other natural or legal persons subject to the supervision of the Commission, including the representative offices of foreign financial entities, will be obliged to provide the Commission with the data, reports, records, minute books, auxiliaries, documents, correspondence and, in general, the information and documentation it deems necessary for the exercise of its attributions, including that which in terms of the laws relative to the Mexican financial system is protected by some type of secrecy. In the administrative acts through which this attribution is exercised, the obligation to provide the corresponding information and documentation in a periodic, continuous or permanent manner may not be established;

VIII.

Dictate the enforcement measures provided for in the laws relative to the Mexican financial system to enforce its determinations;

IX.

Propose to the General Directorates of Provisions and Regulatory Development the drafting of regulation applicable to Entities, societies authorized to operate with novel models, Federations, Protection Funds, Investment Advisors, Currency Exchanges, Money Transmitters, and Unregulated Multiple-Object Financial Societies subject to the Commission's supervision, within the scope of the Commission's own competence and without prejudice to the powers regarding the issuance of general provisions held by the Ministry of Finance and Public Credit;

XI.

Prepare reports on the situation of Entities, the financial system, and financial markets, within the scope of its competence;

XII.

Act as coordinator and liaison with the Institute for the Protection of Bank Savings to carry out, in accordance with applicable legal provisions, information exchange activities for the purposes referred to in Article 123 of the CNBV Law, being able to provide it directly;

XIII.

Issue certifications of the documents held in its archives, and

XIV.

Exercise the powers delegated to it by the President, through a delegatory agreement published in the Official Gazette of the Federation and those otherwise provided for in this Regulation.

The powers referred to in fractions I and V, second paragraph of this article, shall be exercised in coordination with the General Directorate of Social Communication, within the scope of their respective competencies, in accordance with the corresponding internal procedures.

Article 35.- The General Directorate of Supervision of Financial Technology Institutions, through its head, shall exercise the following powers:

Carry out the supervision of:

Crowdfunding financing institutions;

Electronic payment fund institutions;

Societies authorized to operate with novel models;

Other natural or legal persons who, without being Entities referred to in this fraction, carry out activities foreseen in the Financial Technology Institutions Law (LRITF) or are contracted by said Entities to provide services in accordance with the aforementioned law, and in both cases are subject to the supervision of the Commission, and

Third parties with whom the Entities and societies authorized to operate with novel models referred to in Article 76 of the LRITF exchange data and information through standardized computer application programming interfaces;

II.

Exercise the powers indicated in Articles 18, 19, and 20 of this Regulation, regarding the Entities and persons indicated in the previous fraction;

III.

Authorize and, where applicable, approve the acts that, in accordance with the LRITF and the general provisions emanating from it, correspond to be granted by the Commission, regarding the Entities and persons referred to in fraction I of this article, provided that the exercise of this power is not expressly reserved for the Board of Directors or the Interinstitutional Committee. This power shall be exercised by analyzing and ruling on the operational, economic, financial, and administrative aspects of the acts subject to its competence;

IV.

Issue the opinions that competent authorities request from the Commission, in administrative authorization and, where applicable, approval procedures that are followed in accordance with the LRITF and the general provisions emanating from this law, regarding the Entities and persons referred to in fraction I of this article. This power shall be exercised by analyzing and ruling on the operational, economic, financial, and administrative aspects of the acts subject to its competence;

Request the information and documentation necessary for the exercise of its powers from Entities that directly or indirectly invest in the share capital of crowdfunding financing institutions, electronic payment fund institutions, or societies authorized to operate with novel models;

VI.

Prepare the rulings or reports regarding authorizations for the organization and other acts related to the operation and functioning or revocation of the Entities and societies authorized to operate with novel models, within its scope of competence, which must be approved by the Interinstitutional Committee or the Board of Directors;

VII.

Issue authorizations to the Entities, to the societies authorized to operate with novel models, and to Money Transmitters, for access to information through standardized computer application programming interfaces, within the scope of its competence;

VIII.

Maintain the public registry of societies authorized to operate with novel models, which the Commission has granted, as well as the annotations that must be inscribed in said registry in accordance with what is established in the LRITF;

IX.

Act as a consultative body of the Federal Government in financial matters, within the scope of its competence, and

Act as a member of the Financial Innovation Group referred to in Article 93 of the LRITF.

For the exercise of the powers provided for in fractions III and IV of this article, the General Directorate of Supervision of Financial Technology Institutions must request the opinions of the supervisory general directorates that are competent regarding the activities of the Entities, Investment Advisors, Currency Exchanges, Money Transmitters, or other persons subject to the supervision of the Commission, which are intended to be carried out by societies authorized to operate with novel models.

The powers referred to in fractions III and IV of this article shall be exercised in coordination with the General Directorate of Specialized Authorizations, within the scope of their respective competencies, in accordance with the corresponding internal procedures.

Article 36.- The General Directorate of Supervision of Network Participants, through its head, shall exercise the following powers:

Carry out the supervision of:

Credit information societies;

Other natural or legal persons who, without being Entities, carry out activities foreseen in the Credit Information Societies Law (LRSIC), or who are contracted by said Entities to provide services in accordance with the aforementioned law, and, in both cases, are subject to the supervision of the Commission;

Network participants referred to in the Securities and Credit Transactions Law (LTOSF);

Entities subject to the supervision of the Commission that provide information or make inquiries to credit information societies, in order to evaluate their capacity to integrate, validate, send, and ensure the quality of their information submissions to said societies, and

Companies that provide complementary or auxiliary services in the administration of credit institutions, provided they are network participants referred to in the LTOSF;

II.

Exercise the powers indicated in Articles 18, 19, and 20 of this Regulation, regarding the Entities, network participants, and other persons referred to in the previous fraction;

III.

Authorize and, where applicable, approve the acts that, in accordance with the LRSIC, the LTOSF, the LRITF, and the general provisions emanating from these laws, correspond to be granted by the Commission, regarding the Entities, network participants, and other persons referred to in fraction I of this article, provided that the exercise of this power is not expressly reserved for the Board of Directors. This power shall be exercised by analyzing and ruling on the operational, economic, financial, and administrative aspects of the acts subject to its competence;

IV.

Issue the opinions that competent authorities request from the Commission, in administrative authorization and, where applicable, approval procedures, that are followed in accordance with the LRSIC, the LTOSF, the LRITF, and the general provisions emanating from these laws, regarding the Entities, network participants, and other persons referred to in fraction I of this article. This power shall be exercised by analyzing and ruling on the operational, economic, financial, and administrative aspects of the acts subject to its competence;

Supervise, regarding the Entities and other persons referred to in items a) and c) of fraction I of this article, the operations or activities of their corporate purpose, which have authorization to operate through novel models, verifying that the terms, conditions, and specifications contained in said authorizations are complied with, and

VI.

Prepare the rulings or reports regarding authorizations for the operation with novel models of the Entities and other persons referred to in items a) and c) of fraction I of this article, within its scope of competence, which must be approved by the Board of Directors.

The powers referred to in fractions III and IV of this article shall be exercised in coordination with the General Directorate of Authorizations to the Financial System or the General Directorate of Specialized Authorizations, within the scope of their respective competencies, in accordance with the corresponding internal procedures.

The General Directorate of Supervision of Network Participants may make known the result of the exercise of the power referred to in item d) of fraction I of this article, to the Entities subject to its supervision, directly or through the general directorates referred to in Article 18 of this Regulation.

Article 37.- The General Directorate of Regulatory Development, through its head, shall exercise the following powers:

Propose to the head of the Vice Presidency of Regulatory Policy the work program regarding the regulatory actions of the Commission;

II.

Develop projects aimed at improving the regulation corresponding to the Commission, as well as design the bases for the drafting of secondary, prudential, accounting, and external audit regulation competence of the Commission, for the Entities, Federations, Protection Funds, the securities market, and other participants in the Mexican financial system, for which it will take into account the best national and international practices in these matters;

III.

Analyze initiatives for laws and regulatory projects related to the Mexican financial system;

IV.

Resolve consultations related to the application of provisions on prudential regulation, accounting, and external audit issued by the Commission;

Authorize the application of special accounting criteria or records to Entities subject to the supervision of the Commission. Likewise, authorize the opening of accounts and sub-accounts, to the Entities subject to the supervision of the Commission that correspond, in terms of applicable legal provisions;

VI.

Preside within the Commission the coordination instances related to the development of projects referred to in fraction II of this article;

VII.

Request the documentation and information necessary for the performance of its powers from the Entities, Investment Advisors, Federations, Protection Funds, and network participants referred to in the LTOSF subject to the supervision of the Commission;

VIII.

Recognize norms and procedures of external audit that must be observed by legal persons that provide external audit services when ruling or issuing opinions regarding the financial statements of Entities subject to the supervision of the Commission;

IX.

Issue certifications of the documents held in its archives, and

Exercise the powers delegated to it by the President, through a delegatory agreement published in the Official Gazette of the Federation and those otherwise provided for in this Regulation.

The power referred to in fraction III of this article shall be exercised in coordination with the General Directorate of Provisions and the supervisory general directorates, within the scope of their respective competencies, in accordance with the corresponding internal procedures.

The power referred to in fraction IV of this article shall be exercised in coordination with the General Directorate of Provisions, within the scope of their respective competencies, in accordance with the corresponding internal procedures.

The power referred to in fraction V of this article shall be exercised in coordination with the General Directorates of Authorizations to the Financial System or of Specialized Authorizations, within the scope of their respective competencies, as well as with the competent supervisory general directorates, in accordance with the corresponding internal procedures.

Article 38.- The General Directorate of International Affairs, through its head, shall exercise the following powers:

Propose to the President the strategy of the international policy that the Commission shall follow, in relation to regulatory and supervisory authorities homologous to other countries and international multilateral organizations;

II.

Act as coordinator and liaison with regulatory and supervisory authorities homologous to other countries and international multilateral organizations to carry out, in accordance with applicable legal provisions, activities of information exchange and dissemination, technical assistance, and training, being able to provide it directly, except with international authorities in matters of prevention, detection, and reporting of acts, omissions, or operations that could fall under the circumstances of Articles 139 Quater or 400 Bis of the Federal Penal Code;

III.

Coordinate the institutional relations of the Commission with competent authorities and other instances of the Federal Government, regarding financial matters of an international nature;

IV.

Coordinate the participation of Commission civil servants in consultation forums on financial matters held abroad; represent the Commission in international multilateral organizations, and follow up on institutional commitments that derive from these relations or that are of interest to the Commission;

Coordinate the necessary acts to attend to requests for assistance that the Commission formulates to supervisory and regulatory homologous institutions of other countries;

VI.

Establish, in coordination with the competent general directorates of the Commission, the terms in which inspection visits to subsidiary Entities subject to the supervision of the Commission shall be carried out by foreign supervisory authorities, in accordance with legal provisions and applicable international instruments. Likewise, establish the terms regarding inspection visits requested by foreign financial authorities, regarding services provided by Entities subject to the supervision of the Commission, to entities abroad;

VII.

Agree with foreign supervisory authorities, the visit requests that the competent administrative units of the Commission formulate to it when these intend to be carried out regarding subsidiaries or financial branches abroad of the Entities subject to the supervision of the Commission or regarding those Entities abroad that provide services subject to the supervision of the Commission;

VIII.

Coordinate technical assistance and training visits to the Commission by supervisory and regulatory homologous organizations of other countries, as well as by international multilateral organizations;

IX.

Draft and negotiate the projects of legal instruments that the Commission intends to celebrate with international organizations or authorities of other countries with functions of regulation and supervision similar to those of the Commission;

Request the ruling and, where applicable, the registration, before the Ministry of Foreign Relations, of the legal instruments that the Commission intends to celebrate with international organizations with functions of regulation and supervision similar to those of the Commission;

XI.

Cooperate with competent authorities in negotiations with international financial organizations regarding loans, credits, or donations destined for the fulfillment of the Commission's programs, or when this acquires specific commitments in said operations and follow up on them;

XII.

Prepare studies in international matters within the scope of its competence, that derive from international forums in which the Commission participates;

XIII.

Issue certifications of the documents held in its archives, and

XIV.

Exercise the powers delegated to it by the President, through a delegatory agreement published in the Official Gazette of the Federation and those otherwise provided for in this Regulation.

The power referred to in fraction I of this article shall be exercised in coordination with the supervisory general directorates, according to the scope of their competence.

The power referred to in fraction II of this article, with respect to the exchange of information protected by financial legislation regarding secrecy, shall be exercised in coordination with the General Directorate of Litigation.

The power referred to in fraction VIII of this article shall be exercised in coordination with the General Directorate of Organization and Human Resources.

Article 39.- The General Directorate of Economic Studies, through its head, shall exercise the following powers:

Develop studies and analysis in financial and economic matters, of procedures, techniques, best practices, and trends, both in the national and international scope, that support the development of regulation and supervision of the Entities and other subjects under the supervision of the Commission.

Likewise, it may carry out and disseminate studies and estimates of market scenarios that allow the comparability of information, within the scope of its powers;

II.

Participate with other financial authorities in economic studies with the aim of disseminating internally in the Commission the information and economic analysis generated by said authorities;

III.

Carry out studies on conjunctural and sectoral topics that may affect the performance of the Entities and other subjects under the supervision of the Commission;

IV.

Carry out analysis on the economic impact that projects of modification to the regulatory framework of the Mexican financial system may have, as well as the existing regulatory framework on the Entities and other subjects under the supervision of the Commission;

Follow up on the behavior of national and international markets, as well as analyze the effect that said behavior may have on the Entities and other subjects under the supervision of the Commission;

VI.

Issue certifications of the documents held in its archives, and

VII.

Exercise the powers delegated to it by the President, through a delegatory agreement published in the Official Gazette of the Federation and those otherwise provided for in this Regulation.

The power referred to in the second paragraph of fraction I of this article shall be exercised in coordination with the General Directorate of Social Communication, within the scope of their respective competencies, in accordance with the corresponding internal procedures, with respect to dissemination.

Article 40.- The General Directorate for Access to Financial Services, through its head, shall exercise the following powers:

Carry out measurements and statistics regarding access to financial services that exists at the national level, using the information that the Entities, societies authorized to operate with novel models, Currency Exchanges, Money Transmitters, and Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission, deliver;

II.

Develop studies and analysis in matters of access to financial services, both in the national and international scope, in order to foster the healthy and balanced development of the Mexican financial system as a whole;

III.

Act as a consultative body of the Federal Government on topics related to the healthy and balanced development of the Mexican financial system;

IV.

Request from the Entities, societies authorized to operate with novel models, Federations, Protection Funds, and other persons subject to the supervision of the Commission, the information and documentation it deems necessary for the adequate development of its powers. In the administrative acts through which this power is exercised, the obligation to provide the corresponding information and documentation in a periodic, continuous, or permanent manner may not be established;

Propose to the General Directorates of Provisions and Regulatory Development the drafting of regulation in matters of maintenance and promotion of a healthy development of the Mexican financial system;

VI.

Carry out the other activities that, within the scope of its competence, are entrusted to it by the President;

VII.

Issue certifications of the documents held in its archives, and

VIII.

Exercise the powers delegated to it by the President, through a delegatory agreement published in the Official Gazette of the Federation and those otherwise provided for in this Regulation.

Article 41.- The General Directorate of Crimes and Sanctions, through its head, shall exercise the following powers:

Summon, request, and record the appearance of alleged offenders and other persons who may contribute to the adequate development of the investigation of acts or facts that contravene what is provided in the laws indicated in Article 2 of this Regulation.

For the purposes of the foregoing, it may request and gather data, reports, records, minute books, auxiliary records, documents, correspondence, and in general, the information and documentation it deems necessary regarding the persons referred to in this fraction;

II.

Investigate those acts of Entities, societies authorized to operate with novel models, Investment Advisors, representative offices of financial entities from abroad, Currency Exchanges, Money Transmitters, Unregulated Multiple-Object Financial Societies, and other natural or legal persons subject to the supervision of the Commission, that carry out activities foreseen in the laws relative to the Mexican financial system, without having for this the authorization, concession, or registration that the same laws establish, provided there is presumption to suppose the realization of such conduct, being able to order visits for this purpose,

investigation of the alleged responsible parties, gather any information and documentation regarding

the Entities, societies authorized to operate with novel models, Investment Advisors, offices of representation of foreign financial entities, Currency Exchanges,

Money Transmitters, Unregulated Multiple-Object Financial Societies and other natural or legal persons subject to the supervision of the Commission referred to in this subsection and

order the suspension of operations;

III.

Designate and authorize the personnel assigned to it to carry out the investigative visits that must be conducted in accordance with subsection II of this article;

IV.

Designate the personnel assigned to it to notify the administrative acts resulting from the exercise of its powers;

Authorize the personnel assigned to it to, during the conduct of an investigative visit,

request the information and documentation they deem necessary;

VI.

Request the assistance of the public force to carry out the investigative visits referred to in

subsection II of this article, to the Entities, societies authorized to operate with

novel models, Investment Advisors, offices of representation of foreign financial entities,

Currency Exchanges, Money Transmitters, Unregulated Multiple-Object Financial Societies and to the other natural or legal persons subject to the supervision of the Commission, as

well as to effectively enforce resolutions of administrative and managerial intervention and

other measures provided for in the laws referred to in Article 2 of this Regulation;

VII.

Order the suspension of operations, as well as intervene administratively or managerially,

as provided for in the corresponding laws, the negotiation, business or establishment of natural or legal persons who carry out activities provided for in the laws

relating to the Mexican financial system, without having the authorization, concession or registration that those same

laws establish, or proceed to the closure of their offices;

VIII.

Issue an opinion to the Ministry of Finance and Public Credit for the purposes of the complaint or lawsuit that

corresponds to be filed with that department, so that proceedings are taken for the crimes referred to in

the LRAF, the LIC, the LRSIC, the LGOAAC, the LMV, the LFI, the LACP, the LUC, the LRASCAP, the LRITF and

other laws that attribute such competence to the Commission;

IX.

Attend to and process the information requests made by the

Federal Public Prosecutor's Office to the Commission, in accordance with the provisions of the

National Code of Criminal Procedures, regarding the crimes provided for in the laws

relating to the Mexican financial system;

Represent the interests of the Commission, before the courts or before any authority that processes

proceedings conducted in the form of a trial, including the power to articulate and defend positions,

within the scope of its competence;

XI.

Grant a hearing to the alleged offenders so that they may state in writing what is in their

interest, offer evidence and make arguments. Likewise, impose administrative sanctions

for violations of the laws relating to the Mexican financial system and to the provisions of

general character emanating from them, when they have been delegated to it by the Board of Directors

in accordance with Articles 12, subsection IV of the LCNBV and 10 of this Regulation;

XII.

Dictate the necessary measures so that the Entities, societies authorized to operate with

novel models, Investment Advisors, Federations, Protection Funds, offices of

representation of foreign financial entities, participants in networks referred to in the

LTOSF, Currency Exchanges, Money Transmitters and unregulated multiple-object financial societies

and other natural or legal persons subject to the supervision of the Commission, adjust their

activities and operations to the laws applicable to them, to the provisions of general

character derived from them and to commercial, banking and stock market usages or sound practices of

the financial markets;

XIII.

Dictate the enforcement measures provided for in the laws relating to the Mexican financial system to

enforce its determinations;

XIV.

Specify the manner and terms in which the Entities, societies authorized to operate with novel

models, Investment Advisors, Federations, Protection Funds, Currency Exchanges,

Money Transmitters, Unregulated Multiple-Object Financial Societies, participants in

networks referred to in the LTOSF and other natural or legal persons subject to the supervision of the

Commission, including the offices of representation of foreign financial entities, will be

obliged to provide to the Commission, the data, reports, records, minute books, auxiliary

documents, correspondence and, in general, the information and documentation that it deems necessary

for the exercise of its powers, including that which in terms of the laws relating to the

Mexican financial system is protected by some type of secrecy. In the administrative

acts through which this power is exercised, the obligation to provide the information and documentation that corresponds in a periodic,

continuous or permanent manner may not be established;

XV.

Issue certifications of the documents held in its files;

XVI.

Provide a legal opinion, when so requested, regarding the programs for prevention and

correction of mandatory compliance for Entities subject to the supervision of the Commission,

tending to eliminate irregularities and risks when such Entities present imbalances

that could affect their liquidity, solvency, financial stability or affect the continuity of their

operations;

XVII.

Act as a consultative body of the Federal Government in financial matters, within the scope of its

competence;

XVIII.

Publicize, in accordance with the laws relating to the Mexican financial system, the sanctions imposed by the Commission;

XIX.

Order the suspension of operations of Currency Exchanges and Money Transmitters that are

conducting operations in contravention of what is provided in the LGOAAC, the suspension or

cancellation of the contracts entered into with credit institutions, brokerage houses and exchange houses with which they operate, or that they refrain from carrying out new operations with such

Entities, in accordance with the LGOAAC;

XX.

Rule on the legal propriety of the exercise of the power to abstain from sanctioning;

XXI.

Communicate to the corresponding authority the sanctions imposed by the Commission, so that

the effective collection of fines is carried out, and

XXII.

Exercise the powers delegated to it by the President, through a delegatory agreement

published in the Official Journal of the Federation and those otherwise provided for in this Regulation.

The General Directorate of Crimes and Sanctions, for the exercise of its powers, will be assisted by the

Coordinations of Crimes A and B and of Administrative Sanctions A, B and C.

The Coordinations of Crimes A and B may exercise the powers referred to in subsections I to VI,

VIII to X and XII to XVIII of this article.

The Coordinations of Administrative Sanctions A, B and C may exercise the powers referred to in

subsection I, VI and IX to XVIII of this article.

The power referred to in subsection XVIII of this article must be exercised in coordination with the

General Directorate of Social Communication, within the scope of their respective competences, in accordance with the

corresponding internal procedures.

Article 42.- To the General Contenciosa Directorate, through its head, the exercise of the

following powers shall correspond:

Represent the interests of the Commission, including those of the Interinstitutional Committee, before the

courts or before any authority that processes

proceedings conducted in the form of a trial,

including the power to articulate and defend positions, within the scope of its competence, as

well as to sign contracts, agreements or arrangements with public bodies, departments and

entities of the Federal Public Administration to obtain information of a public nature,

necessary to comply with its powers to issue both provisions and statistical information;

II.

Participate, jointly with the general supervisory directorates that are competent,

in the liquidation and commercial bankruptcy proceedings of the Entities, Investment

Advisors, Federations, Currency Exchanges and Money Transmitters subject to the supervision

of the Commission, in accordance with the applicable legal provisions;

III.

Attend to the legal nature consultations made by the administrative units of the

Commission, which in civil, administrative or labor matters must be processed for the correct

operation of the Commission;

IV.

Provide support, advice and legal guidance for operational legal control to the administrative units of the Commission;

Provide, in the terms and conditions approved by the Board of Directors, legal assistance to the

members of said Board and to the public servants of the Commission, when they are presented against

these lawsuits, complaints, grievances or lawsuits, before the Congress of the Union,

judicial, administrative, labor authorities or any others, or are required as

witnesses, in connection with the exercise of their powers or when they are related

imputations made to any of the aforementioned public servants. This power

shall also include the provision of legal assistance to those who have ceased to

hold the aforementioned positions, posts or commissions, for acts carried out during their

term;

VI.

Specify the manner and terms in which the Entities, societies authorized to operate with novel

models, Investment Advisors, Federations, Protection Funds, participants in networks

referred to in the LTOSF, Currency Exchanges, Money Transmitters, Unregulated Multiple-Object Financial Societies and other natural or legal persons subject to the supervision of the

Commission, including the offices of representation of foreign financial entities, will be

obliged to provide to the Commission, the data, reports, records, minute books, auxiliary

documents, correspondence and, in general, the information and documentation that it deems necessary

for the exercise of its powers, including that which in terms of the laws relating to the

Mexican financial system is protected by some type of secrecy. In the administrative

acts through which this power is exercised, the obligation to provide the information and documentation that corresponds in a periodic,

continuous or permanent manner may not be established;

VII.

Issue certifications of the documents held in its files;

VIII.

Exercise, within the scope of its competence, the powers set forth in subsections VI and VIII of

Article 41 of this Regulation;

IX.

Propose to the competent instance the partial or total forgiveness of administrative fines

imposed by the Commission;

Intervene in the administrative procedures of conciliation and arbitration, within the scope of the

powers conferred by law to the Commission;

XI.

Summon and process the procedure to revoke the authorization to organize, constitute

and operate the Entities and Federations subject to the supervision of the Commission, as well as the

societies or Entities that have authorization to operate with novel models, or to revoke the authorization for the establishment of offices of representation of foreign financial entities or cancel the registration as an Investment Advisor, Currency Exchange or

Money Transmitter, when the cancellation is requested by these, in order to, as the case may be, said Entities, Federations, offices and other persons state what is in their

right, offer evidence and make arguments, regarding the grounds for revocation or

cancellation in which they are located;

XII.

Provide a legal opinion, when so requested, regarding the observation letters for the

Entities, Investment Advisors, Federations, Protection Funds, offices of

representation of foreign financial entities, participants in networks referred to in the

LTOSF, Currency Exchanges, Money Transmitters, societies authorized to operate with

novel models, Unregulated Multiple-Object Financial Societies and other natural

or legal persons subject to the supervision of the Commission, when the administrative units of the

Commission, in the exercise of their inspection and surveillance powers, detect elements of the

that may derive facts, acts or omissions that imply the probable non-compliance with the applicable legal provisions or with the sound practices of the financial markets;

XIII.

Attend to the information and documentation requests made to the Commission or to

any of its administrative units, based on the information they provide to it,

except for those requests that are part of the competence of other administrative units of the Commission and of transparency and access to information requests that do not

correspond to this General Directorate;

XIV.

Process the review appeals that are promoted in accordance with the laws relating to the

Mexican financial system, as well as the claims for state patrimonial liability

in which acts are attributed to this Commission in accordance with the Federal Law of

State Patrimonial Liability, and

XV.

Exercise the powers delegated to it by the President, through a delegatory agreement

published in the Official Journal of the Federation and those otherwise provided for in this Regulation.

The General Contenciosa Directorate, for the exercise of its powers, will be assisted by the

Legal Coordinations of Procedures A, B and C.

The Legal Coordinations of Procedures A, B and C may exercise the powers referred to in

subsection I, V, VI, VII and XI of this article, within the scope of their competence.

The Legal Coordination of Procedure A may exercise, in addition to those provided for in the paragraph

above, the powers referred to in subsections II and XIII of this article, within the scope of its

competence.

The Legal Coordination of Procedure B may exercise, in addition to those provided for in the third

paragraph, the power referred to in subsections IX and XIV of this article, within the scope of its

competence.

Article 43.- To the General Directorate of Investigative Visits, through its head, the exercise of the

following powers shall correspond:

Know of the facts or indications of which the Commission has notice, related to natural

or legal persons not subject to the supervision of the Commission that presumptively are

carrying out operations in contravention of the laws referred to in Article 2 of this

Regulation;

II.

Investigate those acts of natural or legal persons, who carry out activities provided for in the

laws relating to the Mexican financial system or administrative laws applicable to the market of derivative financial instruments, without having the authorization, concession or registration

that those same laws establish, provided that there is a presumption to suppose the carrying out of

such conduct, being able to order investigative visits to the alleged responsible parties,

as well as gather any information and documentation regarding the natural or legal persons to

whom this subsection refers;

III.

Investigate those acts of natural or legal persons who carry out operations in contravention

to what is provided in Articles 2 and 103 of the LIC, or act as trustees without being authorized

for such in accordance with the laws relating to the Mexican financial system, being able to order

investigative visits to the alleged responsible parties, as well as gather any information and

documentation regarding the natural or legal persons to whom this subsection refers;

IV.

Designate and authorize the personnel assigned to it to carry out the investigative visits that

must be conducted in accordance with subsections II and III of this article;

Authorize the personnel assigned to it to, during the conduct of an investigative visit,

request the information and documentation they deem necessary;

VI.

Require at any time documentation and information from the natural or legal persons not

subject to the supervision of the Commission to whom subsections II and III of this article refer, in

order to gather elements necessary for the fulfillment of its powers;

VII.

Summon to make known to the natural or legal persons not subject to the supervision

of the Commission to whom subsections II and III of this article refer, the possible non-compliance

in which they incur the laws referred to in Article 2 of this Regulation;

VIII.

Order with respect to the natural or legal persons not subject to the supervision of the Commission to whom

subsection II and III of this article refer, the suspension of the operations of their

negotiations, businesses or establishments when they carry out activities provided for in the laws

relating to the Mexican financial system, without having the authorization, concession or

registration that those same laws establish, or proceed to the closure of their offices;

IX.

Order the provisional and immediate immobilization of funds in accordance with Article 114 of the

LRASCAP;

Request the assistance of the public force to carry out investigative visits in the

terms of subsection XVI of Article 4 of the LCNBV;

XI.

Record the appearance of alleged offenders and other persons who may contribute

to the proper development of the investigations referred to in subsections II and III of this

article;

XII.

Represent the interests of the Commission, before the courts or before any authority that processes

proceedings conducted in the form of a trial, including the power to articulate and defend positions,

within the scope of its competence;

XIII.

Order the dissolution and liquidation of savings and loan cooperative societies classified

as category D in accordance with what is provided in Article 15 Bis of the LRASCAP;

XIV.

Issue certifications of the documents held in its files, and

XV.

Exercise the powers delegated to them by the President, through a delegatory agreement

published in the Official Journal of the Federation and those otherwise provided for in this Regulation.

The General Directorate of Investigative Visits, for the exercise of its powers, will be assisted by the

Investigative Visit Coordinations A, B and C.

The Investigative Visit Coordinations A, B and C may exercise the powers contained in the

subsection II, III, V, VI, X, XI, XII and XIV of this article.

Article 44.- To the General Directorate of Authorizations to the Financial System, through its head, the exercise of the

following powers shall correspond:

Authorize and, where appropriate, approve the acts that, in accordance with the LRAF, the LRSIC, the LIC, the

LMV, the LTOSF and the provisions of general character emanating from these laws, correspond to be granted by the Commission. This power shall be exercised by analyzing and ruling on the

legality of the acts subject to its competence. The provisions of this subsection shall not be applicable

with respect to the issuance of securities registered in the National Securities Register, their public offering, and

in matters of attorneys to operate in the stock exchange and to carry out operations with the public;

II.

Authorize and, where appropriate, approve the acts that in accordance with the LFI and the provisions of

general character emanating from this Law, correspond to be granted by the Commission. This power

shall be exercised by analyzing and ruling on the legality of the acts subject to its

competence. The provisions of this subsection shall not be applicable with respect to investment funds;

III.

Issue the opinions that the competent authorities request from the Commission, in the

administrative authorization procedures and, where appropriate, approval, that are followed in accordance with the

LRAF, the LRSIC, the LIC, the LMV, the LFI, the LTOSF and the provisions of general character that

emanate from these laws. This power shall be exercised by analyzing and ruling on the

legality of the opinions subject to its competence;

IV.

Require the documentation and information necessary for the exercise of the powers provided for

in subsections I, II and III of this article, in accordance with the applicable legal provisions;

Prepare the rulings and reports regarding authorizations for the organization and other acts

related to the operation, functioning, corporate restructuring or revocation of the

Entities referred to in the LRAF, the LRSIC, the LIC, the LMV, the LFI or for the establishment of

offices of representation of foreign financial entities, within its scope of

competence, that must be approved by the Board of Directors. With respect to revocations, the

present power shall only be exercised with respect to those that are carried out at the request of the

Interested Entity;

VI.

Authorize the internal regulations of stock exchanges, institutions for the deposit of

securities and central counterparties of securities and their modifications;

VII.

Issue certifications of the documents held in its files, and

VIII.

Exercise the powers delegated to it by the President, through a delegatory agreement

published in the Official Journal of the Federation and those otherwise provided for in this Regulation.

Article 45.- To the General Directorate of Specialized Authorizations, through its head, the exercise of the

following powers shall correspond:

Authorize and, where appropriate, approve the acts that, in accordance with the LACP, the LGOAAC, the LUC,

the LRASCAP, the LRITF, the provisions of general character emanating from said laws, other

laws and provisions of general character that so provide, correspond to be granted by the Commission,

provided that, in the latter case, such power is not expressly assigned to another administrative unit of the Commission. This power shall be exercised by analyzing and ruling on the

legality of the acts subject to its competence;

II.

Issue the opinions that the competent authorities request from the Commission, in the procedures

of authorization and, where appropriate, approval, that are followed in accordance with the LACP, the LUC, the

LGOAAC, the LRASCAP, the LRITF and the provisions emanating from said laws. This power

shall be exercised by analyzing and ruling on the legality of the opinions subject to its

competence;

III.

Request the documentation and information necessary for the exercise of the powers provided

in fractions I and II of this article, in accordance with the applicable legal provisions;

IV.

Prepare the rulings and reports regarding authorizations for the organization and other acts

related to the operation, functioning, corporate restructuring, or revocation of the

Entities and Federations referred to in the LACP, the LUC, the LGOAAC, the LRITF, and the LRASCAP,

within its scope of competence, which must be approved by the Board of Directors or the

Interinstitutional Committee. In the case of revocations, this power shall only be exercised

with respect to those requested by the interested Entity or Federation;

Prepare the rulings and reports regarding authorizations for the organization and other acts

related to the operation and functioning with novel models referred to in articles

80 and 86 of the LRITF, which must be approved by the Board of Directors. In the case of

revocations, this power shall only be exercised with respect to those requested by

the society authorized to operate with novel models or the interested Entity;

VI.

Authorize or provide opinions in the administrative procedures provided for in the applicable provisions for

the market for financial derivative instruments that the Commission is required to issue, unless it

concerns authorizations or opinions regarding the internal regulations of the participants of

those markets. This power shall be exercised by analyzing and ruling on the legality of

the acts subject to its competence;

VII.

Provide a legal opinion, when so requested, regarding programs aimed at avoiding

financial imbalances that could affect the liquidity, solvency, or stability of the Entities

subject to the supervision of the Commission or to eliminate the irregularities in which they incur, within

the scope of competence of the Commission;

VIII.

Issue certifications of the documents held in its files, and

IX.

Exercise the powers delegated to it by the President, through a delegation agreement

published in the Official Journal of the Federation and those otherwise provided for in this Regulation.

Article 46.- The General Directorate of Dispositions, through its head, shall be responsible for the exercise

of the following powers:

Issue, within the scope of competence of the Commission, the provisions of a general nature and

other regulations determined by the LCNBV, the LRAF, the LRSIC, the LIC, the LMV, the LFI, the LGOAAC,

the LACP, the LUC, the LRASCAP, the LTOSF, the LRITF, other laws, regulations, provisions of

general nature issued by other authorities or other norms in financial matters;

II.

Establish criteria of general application in the financial sector regarding acts and operations

considered contrary to commercial, banking, and stock market usages or sound practices of the

financial markets;

III.

Exercise the powers granted to the Commission to provide opinions on provisions that other

financial authorities intend to issue within the scope of their competence, with the exception of the

matters related to the prevention, detection, and reporting of acts, omissions, or operations that

could fall under the circumstances of articles 139 Quater or 400 Bis of the Federal Penal

Code, as well as issuing the opinion related to the authorization of analogous, connected, and complementary operations of the Entities, in terms of the laws of the Mexican financial system;

IV.

Recommend to the Presidency the exercise of the veto power over self-regulation norms,

with respect to self-regulatory bodies recognized by the Commission, in accordance with the

applicable legal provisions;

Act as a consultative body of the Federal Government in financial matters, within the scope of its

competence, in coordination with the administrative unit of the Commission that is competent

in terms of this Regulation;

VI.

Provide opinions in the administrative procedures provided for in the applicable provisions for the market

for financial derivative instruments that the Commission is required to issue, exclusively

regarding the internal regulations of the participants of that market and the issuance of

general provisions. This power shall be exercised by analyzing and ruling on the legality of the acts subject to its competence;

VII.

Address consultations related to the application of the provisions of a general nature

issued by the Commission based on the LRAF, the LRSIC, the LIC, the LMV, the LFI, the LGOAAC,

the LACP, the LUC, the LRASCAP, the LTOSF, the LRITF, and other laws, when requested by the

competent authorities for administrative purposes or by the Entities, societies authorized to operate with

novel models, Investment Advisors, Federations, Protection Funds, or participants

in networks referred to in the LTOSF;

VIII.

Prepare normative projects related to the organization of the Commission and the powers

of the administrative units of the Commission;

IX.

Issue certifications of the documents held in its files, and

Exercise the powers delegated to it by the President, through a delegation agreement

published in the Official Journal of the Federation and those otherwise provided for in this Regulation.

The power referred to in fraction III of this article shall be exercised in coordination with the

General Directorate of Regulatory Development and the general directorates of supervision, within the scope of their

respective competences, in accordance with the corresponding internal procedures.

Article 47.- The General Directorate of Government Bodies and Legal Consultancy, through its head,

shall be responsible for the exercise of the following powers:

Organize the activities of the secretaries of the Board of Directors and the Interinstitutional Committee;

II.

Coordinate the integration of the draft agendas for the ordinary and

extraordinary sessions of the Board of Directors and the Interinstitutional Committee, as appropriate;

III.

Establish the communication mechanisms for the call to sessions of the Board of

Directors and the Interinstitutional Committee;

IV.

Organize the integration of the documentation and information related to the agenda items of the sessions of the Board of Directors and the Interinstitutional Committee, as well as ensure

that it remains available to its members;

Coordinate the preparation of the minutes of the sessions of the Board of Directors and the Interinstitutional Committee, as appropriate, and collect the respective signatures;

VI.

Organize the receipt of proposals for agenda items, rulings, and documents addressed to the

Board of Directors and the Interinstitutional Committee;

VII.

Coordinate the follow-up to the compliance with the agreements of the Board of Directors and the Interinstitutional Committee and report it to the presidents and to the members of said governing bodies;

VIII.

Direct the integration, storage, and administration of the files, minute books, and other

documents related to the matters that are the competence of the Board of Directors and the

Interinstitutional Committee;

IX.

Ensure the necessary support of the Commission in the planning and organization of the activities of the

Board of Directors and the Interinstitutional Committee;

Evaluate and define the attention to requests and requirements for information that any of the

Chambers that make up the Congress of the Union and the legislatures of the federal entities

formulate to the Commission;

XI.

Issue a legal opinion on draft agreements that the Commission intends to conclude with

international organizations or authorities of other countries with regulatory and

supervisory functions similar to those of the Commission;

XII.

Draft draft agreements that the Commission intends to conclude with national organizations

with regulatory and supervisory functions similar to those of the Commission, as well as with

public or private research or teaching institutions, for the exchange of information

that is not reserved or confidential, for academic purposes and the dissemination of the Mexican financial system;

XIII.

Issue certifications of the documents held in its files, and

XIV.

Exercise the powers delegated to it by the President, through a delegation agreement

published in the Official Journal of the Federation and those otherwise provided for in this Regulation.

The powers referred to in fractions X, XI, and XII of this article shall be exercised in coordination

with the administrative units of the Commission, within the scope of their respective competences and in accordance with

the corresponding internal procedures.

Article 48.- The General Directorates of Prevention of Operations with Illicit Proceeds A, B, and C, through their heads, shall be responsible for the exercise of the following powers:

Exercise the powers set forth in articles 18 and 19 of this Regulation, to verify compliance

with legal provisions in matters of prevention, detection, and reporting of acts, omissions, or operations that could fall under the circumstances of articles 139 Quater or

400 Bis of the Federal Penal Code, with respect to the Entities, societies authorized to operate

with novel models, Investment Advisors, Currency Exchanges, Money Transmitters, and

Unregulated Multiple-Object Financial Societies subject to their supervision, within the scope

of their competence.

To this effect, they may agree, in accordance with the corresponding internal processes, with the general directorates of Supervision of Groups and Financial Intermediaries A, B, C, D, E, or F; of Supervision of Development Banking and Development Entities; of Supervision of Credit Unions; of Supervision of Savings and Loan Cooperatives A or B; of Supervision of Popular Financial Societies A or B; of Investment Administration; of Supervision of Securities Entities and Intermediaries; of Supervision of Market Participants' Conduct; or of Supervision of Financial Technology Institutions, to carry out the supervision of Entities, societies authorized to operate with novel models, and Investment Advisors to verify compliance with the legal provisions mentioned in the previous paragraph, in the terms referred to in articles 18, second-to-last paragraph, and 19, second-to-last paragraph of this Regulation;

II.

Conduct ordinary, special, and investigative visits to the Entities, societies authorized to operate with novel models, Investment

Advisors, Currency Exchanges, Money Transmitters, and Unregulated Multiple-Object Financial

Societies subject to the supervision of the Commission, in order to verify compliance with the legal provisions mentioned in

fraction I of this article. To this effect, it may request and obtain any information and

documentation from the Entities, societies authorized to operate with novel models,

Investment Advisors, Currency Exchanges, Money Transmitters, and Unregulated Multiple-Object

Financial Societies referred to in this fraction, as well as carry out the other

acts necessary for the exercise of this power;

III.

Provide an opinion to the Ministry of Finance and Public Credit, regarding the provisions of

general nature that it issues in matters of prevention, detection, and reporting of acts, omissions, or

operations that could fall under the circumstances of articles 139 Quater or 400 Bis of the

Federal Penal Code;

IV.

Exercise the powers that, in accordance with the laws relating to the Mexican financial system and to the

provisions referred to in fraction I of this article, it is competent for the Commission to carry out, as well

as to carry out the other acts necessary for the exercise of said powers;

Address consultations related to the application of provisions in matters of prevention,

detection, and reporting of acts, omissions, or operations that could fall under the circumstances of

articles 139 Quater or 400 Bis of the Federal Penal Code;

VI.

Issue guidelines, best practices, criteria, directives, guides, and other provisions for the

adequate compliance with the provisions of a general nature in matters of prevention of

operations that could fall under the circumstances of articles 139 Quater or 400 Bis of the

Federal Penal Code to which the Entities, societies authorized to operate with novel models, Investment Advisors, Currency Exchanges, Money Transmitters, and Unregulated Multiple-Object Financial Societies subject to the supervision of the

Commission are subject. This is without prejudice to the competence in matters of issuance of provisions

of a general nature held by the Ministry of Finance and Public Credit, as well as regarding the

interpretation of these;

VII.

Propose to the General Directorate of Crimes and Sanctions the suspension of operations of the

Currency Exchanges and Money Transmitters that are carrying out operations in

contravention of what is provided in the LGOAAC; the suspension or cancellation of the contracts

concluded with credit institutions, brokerage houses, and exchange houses with which they operate, or that they abstain from carrying out new operations with said Entities, in terms of the

LGOAAC;

VIII.

Issue certifications of the documents held in its files;

IX.

Issue the technical ruling referred to in articles 86 Bis and 87-P of the LGOAAC, as well as

carry out the other acts necessary for such effect;

Certify independent external auditors, compliance officers, and other professionals

in terms of what is provided in article 4, fractions X and X Bis of the LCNBV, being able to carry out the other acts necessary for its execution;

XI.

Require the appearance of alleged offenders and other persons who may contribute to the

adequate development of the investigation of acts or facts that contravene the applicable legal

provisions related to its scope of competence, as well as to carry out the other acts

necessary for the purposes of the foregoing;

XII.

Prepare statistics related to the matters subject to the competence of the Vice Presidency of Supervision of Preventive Processes;

XIII.

Coordinate the automation activities of the different processes of the Vice Presidency of Supervision of Preventive Processes, as well as support the necessary actions for its adequate

functioning;

XIV.

Propose and, if applicable, implement the management indicators that are necessary to give

follow-up to the processes of the Vice Presidency of Supervision of Preventive Processes;

XV.

Act as the liaison of the Vice Presidency of Supervision of Preventive Processes with the General Directorate of Informatics for the purposes of what is provided in fraction IV of article 50 of this

Regulation;

XVI.

Share or exchange data, records, documents, and, in general, all information that

they have obtained in the exercise of their powers with the different organizations, departments, and

national and international authorities related to the prevention, detection, and combat of

crimes typified in articles 139 Quater or 400 Bis of the Federal Penal Code, in terms

of the applicable legal provisions;

XVII.

Cooperate with the Ministry of Finance and Public Credit and the Federal Public Prosecutor's Office

in terms of what is provided in article 4, fraction XIX Bis of the LCNBV, in accordance with the collaboration agreements subscribed for such effect;

XVIII.

Send to the Entities, societies authorized to operate with novel models, Currency

Exchanges, Money Transmitters, and unregulated multiple-object financial societies

subject to the supervision of the Commission, the list of blocked persons received from the

Ministry of Finance and Public Credit for such effect, being able to carry out the necessary acts

for this purpose, and

XIX.

Those otherwise provided by other legal provisions, as well as to resolve matters related to the

provisions that confer any power to the Commission, within the scope of its competence and

that are not expressly attributed to another administrative unit of the Commission.

To the General Directorate of Prevention of Operations with Illicit Proceeds C,

in addition to the powers provided in the previous paragraph, it shall be responsible for maintaining the Public Registry of

Currency Exchanges and Money Transmitters, as well as registering and renewing the registry for legal entities

that meet the requirements referred to in the LGOAAC to operate as such, and carrying out the

annotations that must be made in this Registry in accordance with what is established in the LGOAAC.

The General Directorates of Prevention of Operations with Illicit Proceeds A, B, and C,

may make known the result of the exercise of the powers referred to in this article, to the

Entities, societies authorized to operate with novel models, and Investment Advisors subject to

the supervision of the Commission, directly or through the general directorates referred to in article

18 of this Regulation.

The General Directorate of Prevention of Operations with Illicit Proceeds A, for the

exercise of its powers, shall be assisted by the Coordinations of Prevention of Operations A 1, A 2,

A 3, and

A 4.

The General Directorate of Prevention of Operations with Illicit Proceeds B, for the

exercise of its powers, shall be assisted by the Coordinations of Prevention of Operations B 1, B 2,

B 3, and

B 4.

The General Directorate of Prevention of Operations with Illicit Proceeds C, for the

exercise of its powers, shall be assisted by the Coordinations of Prevention of Operations, C 1,

C 2, and C

The Coordinations of Prevention of Operations A 1, A 2, A 3, A 4, B 1, B 2, B 3, B 4, C 1, C 2, and C 3,

may exercise the powers referred to in fractions I, II, VIII, IX, X, and XII of this article, within the

scope of their competence.

Article 49.- The General Directorate of Authority Attention, through its head, shall be responsible for the

exercise of the following powers:

Address requests for information and documentation, as well as orders of

seizure or unblocking of accounts, transfers, or status of funds that are made by the

judicial, federal tax, and administrative authorities competent, regarding

operations carried out by the clients and users of financial services with the Entities,

societies authorized to operate with novel models, Investment Advisors,

Federations, Protection Funds, Currency Exchanges, Money Transmitters, Unregulated

Multiple-Object Financial Societies, and other natural or legal persons subject to the

supervision of the Commission, including the representative offices of financial entities from

abroad, and within the scope of its competence and subject to the applicable legal provisions in

matters of financial secrecy, as well as to carry out the other acts necessary for the exercise of

this power. With respect to Currency Exchanges, Money Transmitters, and Unregulated

Multiple-Object Financial Societies, the exercise of this power shall be for the purposes

established in article 95 Bis of the LGOAAC.

For the exercise of the power referred to in the previous paragraph, it shall have access to the files,

books, records, and databases of the Entities, societies authorized to operate with

novel models, Investment Advisors, Federations, Protection Funds, Currency

Exchanges, Money Transmitters, Unregulated Multiple-Object Financial Societies, and

other natural or legal persons subject to the supervision of the Commission, including the offices

of representation of financial entities from abroad, in order to obtain directly the

information and documentation requested, prior to a reasoned and motivated request to that effect.

For the purposes provided in the first paragraph of this fraction, it may enter into coordination agreements

with the Entities, societies authorized to operate with novel models,

Investment Advisors, Federations, Protection Funds, Currency Exchanges, Money Transmitters,

and Unregulated Multiple-Object Financial Societies in question and with the

competent authorities, in order to promote that the sending and receiving of the respective requests,

as well as the corresponding information, is carried out through electronic means, with the

purpose of speeding up the process of attention to the respective requests;

II.

Analyze, if applicable, the requests for information and documentation, as well as the orders of

seizure or unblocking of accounts, transfers, or status of funds referred to in the

previous fraction, in order to verify their compliance with the legal requirements for admissibility and, if so, to process them;

III.

Indicate the form, terms, and deadlines in which the Entities, societies authorized to operate with

novel models, Investment Advisors, Federations, Protection Funds, Currency

Exchanges, Money Transmitters, Unregulated Multiple-Object Financial Societies, and

other natural or legal persons subject to the supervision of the Commission, including the offices

of representation of financial entities from abroad, are obliged to provide to the

Commission, the data, reports, records, minute books, auxiliary records, documents, correspondence, and, in

general, the information and documentation subject to the request of the authorities

competent in accordance with fraction I of this article, including the information and documentation

relating to the holder or beneficiary corresponding to the operations and services carried out by said Entities, societies authorized to operate with novel models, Investment

Advisors, Federations, Protection Funds, Currency Exchanges, Money Transmitters,

Unregulated Multiple-Object Financial Societies, offices, and other natural or

legal persons referred to in this fraction, as well as to carry out the other acts necessary for such

effect. In the administrative acts through which this power is exercised, the obligation to provide the information and documentation corresponding in

a periodic, continuous, or permanent manner may not be established;

IV.

Follow up on the matters in order for the Entities, societies authorized to operate with novel models, Investment Advisors, Federations, Protection Funds, Currency

Exchanges, Money Transmitters, Unregulated Multiple-Object Financial Societies, and

other natural or legal persons subject to the supervision of the Commission, including the representative offices of foreign financial entities, subject to the requirements referred to in subsection I of this article, comply in a timely and proper manner with what is requested, being able to carry out the necessary acts for the exercise of the foregoing;

Propose the application of sanctions to the General Directorate of Crimes and Sanctions;

VI.

Present before the Committee established by the Board of Directors, matters relating to infractions with respect to which the authority to abstain from sanctioning may be exercised, in accordance with the applicable legal provisions;

VII.

Issue certifications of the documents held in their files;

VIII.

Those other matters established by other legal provisions, as well as resolve matters related to the provisions that confer any authority to the Commission, within the scope of its competence and that are not expressly attributed to another administrative unit of the Commission, and

IX.

Exercise the authorities delegated to it by the President, through a delegatory agreement published in the Official Journal of the Federation and those otherwise provided for in this Regulation.

The General Directorate of Authority Attention, in the exercise of its authorities, will be assisted by the Authority Attention Coordinations A, B, C and D, which may exercise the authorities referred to in subsections I, first and second paragraphs, and II to VIII of this article.

Article 50.- The General Directorate of Information Technology, through its head, shall exercise the following authorities:

Plan the computing and communications infrastructure of the Commission, both in its central and personal equipment and devices, as well as in its voice and data communication networks and equipment, and define, in terms of the policies and provisions established by the competent authorities, the strategies and programs regarding the renewal, acquisition, support, maintenance and updating of the IT infrastructure, standard packages, information services and methodologies in the field of informatics;

II.

Detail, in terms of the policies and provisions established by the competent authorities, the technical specifications for the renewal, acquisition, support, maintenance and updating of the existing IT infrastructure, including standard software packages, information services and methodologies in the field of informatics, as well as verify its compliance, attending to the laws and applicable legal provisions;

III.

Coordinate with the administrative units of the Commission and competent authorities, in aspects related to the functions of transmission and collection of information and remote communication of the Commission;

IV.

Develop, in terms of the policies and provisions established by the competent authorities, in coordination with the administrative units of the Commission, the design of the Commission's automated systems; their programming; permanent or periodic maintenance mechanisms, as well as the corresponding operation documentation and manuals, in addition to their implementation and service;

Safeguard and administer the databases of the Commission's automated systems;

VI.

Coordinate the user attention services of the Commission related to the handling, operation and support of the IT infrastructure, standard packages, information services and methodologies in the field of informatics of the Commission;

VII.

Establish, in accordance with the applicable legal provisions, guidelines, standards and internal procedures in the matter of IT security, as well as the technological resources related to the IT security mechanisms to minimize possible risks and protect the Commission's IT assets. The foregoing, in accordance with the measures and mechanisms agreed upon with the General Directorate of Information Security Supervision;

VIII.

Establish, in accordance with the applicable legal provisions, guidelines, standards and internal procedures in the matter of IT goods and services that must be used by the Commission's personnel;

IX.

Issue certifications of the documents held in their files, and

Exercise the authorities delegated to it by the President, through a delegatory agreement published in the Official Journal of the Federation and those otherwise provided for in this Regulation.

Article 51.- The General Directorate of Programming, Budget and Material Resources, through its head, shall exercise the following authorities:

Elaborate, propose and disseminate the guidelines, standards and internal procedures to which the administrative units of the Commission must adhere, in relation to the internal process for the programming, budgeting, exercise, control and evaluation of the Commission's expenditures;

II.

Plan, coordinate and integrate the annual draft budgets of income and expenditures of the Commission, analyze and adjust their content, as well as process their internal authorization and before the Ministry of Finance and Public Credit;

III.

Keep updated the record and budgetary control of the income and expenditures, as well as the investments of the Commission, and inform of its progress and modifications to its hierarchical superiors and to the corresponding authorities;

IV.

Plan, propose, carry out and control the investments of the Commission's financial resources;

Plan, grant or process the authorization, as well as carry out and register the disbursements that the Commission makes for the different concepts of the expenditure budget;

VI.

Coordinate the development of proposals aimed at modifying the contribution regime for the concept of fees, as well as carry out the annual calculation of the collection of inspection and surveillance fees and other fees, products and revenues applicable to the Entities, societies authorized to operate with novel models, Investment Advisors, issuers of securities registered in the National Securities Register, Federations, Protection Funds, representative offices of foreign financial entities, participants in networks referred to in the LTOSF, Currency Centers, Money Transmitters and Unregulated Multiple-Objective Financial Societies, subject to the supervision of the Commission;

VII.

Determine the debts in the payment of the fees for the concept of authorizations, registrations, inspection and surveillance that the Commission provides, which must be paid in terms of the Federal Fees Law by the Entities, societies authorized to operate with novel models, Investment Advisors, issuers of securities registered in the National Securities Register, Federations, Protection Funds, representative offices of foreign financial entities, participants in networks referred to in the LTOSF, Currency Centers, Money Transmitters and Unregulated Multiple-Objective Financial Societies subject to the supervision of the Commission, as well as manage their collection, within the scope of its competence;

VIII.

Review, register, validate and control the financial and budgetary operations in accordance with the provisions issued in accounting and budgetary matters by the corresponding authorities, as well as formulate, analyze and make known to its hierarchical superiors and corresponding authorities, the financial and budgetary statements of the Commission;

IX.

Elaborate and integrate follow-up and institutional reports required by the Ministry of Finance and Public Credit and other dependencies of the Federal Public Administration regarding the financial resources of the Commission;

Program the acquisition and provide to the administrative units of the Commission the materials, furniture, equipment and office articles necessary, in accordance with internal provisions and those issued by the competent authorities, as well as register and control their storage, entry and exit, and authorize their payment;

XI.

Legally represent the Commission in the celebration of all kinds of contracts, agreements and orders, as well as to carry out the acquisitions of goods and services and exercise the authorities granted to the President by the Law on Acquisitions, Leases and Services of the Public Sector, the Law on Public Works and Services Related to Them, as well as the respective regulations. Likewise, represent the Commission before the competent instances of the Federal Public Administration, regarding the Federal Budget and Fiscal Responsibility Law and the General Law on Civil Protection, without prejudice to the authority to act as coordinator of the Commission's internal civil protection program, as well as to exercise the authorities conferred by the other applicable legal provisions in said matters, within the scope of its competence;

XII.

Provide and control the correspondence services, concentration archive, maintenance and distribution of spaces, logistical coordination of events, transfer of goods, graphics and printing, as well as carry out the control, security and protection of the movable and immovable goods of the Commission. Additionally, provide what is necessary to safeguard the security of the Commission's facilities and its public servants;

XIII.

Participate in the administrative instances required for adequate coordination with the Internal Control Body in the Commission;

XIV.

Elaborate, coordinate and execute the internal civil protection program, as well as promote the training, organization and capacity building of the Commission's personnel in the matter of civil protection;

XV.

Elaborate the report for the Board of Directors on the exercise of the expenditure budget;

XVI.

Notify for administrative purposes the agreements of the Board of Directors, in order to carry out the management before the competent instances of the Federal Public Administration, in relation to the provisions in the matter of material, financial and budgetary resources;

XVII.

Issue certifications of the documents held in their files, and

XVIII.

Exercise the authorities delegated to it by the President, through a delegatory agreement published in the Official Journal of the Federation and those otherwise provided for in this Regulation.

Article 52.- The General Directorate of Organization and Human Resources, through its head, shall exercise the following authorities:

Direct the selection, recruitment and hiring of the personnel required by the Commission to cover vacancies in the authorized positions; execute the induction and integration program to the work area, as well as issue the appointments and, if applicable, remove or notify changes in the assignment of the Commission's personnel. Likewise, elaborate the separation letters and termination agreements for the labor relationship with the Commission's personnel;

II.

Subscribe and issue the photographic credentials of the public servants of the Commission; of pensioners, beneficiaries, as well as the other credentials that the Commission deems necessary to issue;

III.

Coordinate, in terms of the applicable legal provisions, the career service of the Commission, as well as the application of the operation policies of said service, for which it may:

Propose training and technical and professional updating programs to achieve a growing level of excellence, and

Participate in the application of procedures for the occupation of a vacant position, adjusting to the applicable legal provisions;

IV.

Implement the policies, standards and procedures for salary administration, as well as control, disseminate and grant the benefits to which the Commission's personnel is entitled;

Propose the organizational structure of the Commission and manage its authorization and registration before the competent authorities;

VI.

Propose and disseminate the policies, standards and internal procedures for the valuation of the Commission's positions;

VII.

Direct, participate and support the administrative units of the Commission in the elaboration of the Commission's organization manual;

VIII.

Conduct labor relations with the union organization of the Commission, in coordination with the General Contenciosa Directorate;

IX.

Implement the policies and mechanisms for the performance evaluation of personnel and coordinate the evaluation process with the administrative units of the Commission;

Plan and structure the courses and events of training derived from the detection and analysis of the needs of the administrative units of the Commission, as well as supervise the development of courses and the control of scholarships;

XI.

Direct the operation of the Commission's library;

XII.

Direct the management before the competent instances of the Federal Public Administration, in relation to the general working conditions that must be observed between the Commission and its personnel, as well as in the matter of human resources administration;

XIII.

Impose administrative sanctions on the Commission's personnel, in case they contravene the applicable legal provisions derived from the labor relationship;

XIV.

Notify the Commission's personnel of the sanctions imposed by competent authorities, regarding acts or conduct that affect the labor relationship with the Commission itself;

XV.

Cooperate in the labor procedures in which the Commission is a party;

XVI.

Coordinate the internal communication processes, relating to matters of general interest to the Commission's personnel, within the scope of its competence;

XVII.

Notify for administrative purposes the agreements of the Board of Directors, in order to carry out the management before the competent instances of the Federal Public Administration, in relation to the provisions related to the general working conditions that must be observed between the Commission and its personnel, as well as in the matter of human resources;

XVIII.

Issue certifications of the documents held in their files, and

XIX.

Exercise the authorities delegated to it by the President, through a delegatory agreement published in the Official Journal of the Federation and those otherwise provided for in this Regulation.

Article 53.- The General Directorate of Strategic Planning, through its head, shall exercise the following authorities:

Disseminate and make known the standards, policies and guidelines to which the administrative units of the Commission must adhere, in relation to the internal planning process, and its linkage with the National Development Plan and the National Development Financing Program;

II.

Direct the application of the institutional strategy and the administration of projects through the implementation, monitoring and updating of these;

III.

Periodically inform the Presidency, the Vice Presidency of Administration and Strategic Planning and the competent administrative unit of the Commission, of the degree of compliance with the objectives of the institutional strategy, to establish corrective measures and carry out the necessary updates;

IV.

Legally represent, before the competent instances of the Federal Public Administration, the Commission regarding the Planning Law and other applicable legal provisions in the matter, within the scope of its competence;

Direct, participate and support the administrative units of the Commission in the elaboration of procedure manuals and public service manuals, excepting supervision and regulation, for the operation of the Commission, providing methodological guides and formats, as well as coordinating their dissemination;

VI.

Direct and coordinate the design and implementation of the Commission's quality management system, excepting supervision and regulation, as well as report the results of its operation;

VII.

Direct improvement projects of the Commission's processes other than those of supervision and regulation;

VIII.

Request from the administrative units of the Commission the information and documentation necessary for the adequate performance of their authorities;

IX.

Issue certifications of the documents held in their files, and

Exercise the authorities delegated to it by the President, through a delegatory agreement published in the Official Journal of the Federation and those otherwise provided for in this Regulation.

Article 54.- The General Directorate of Supervision Methods and Processes, through its head, shall exercise the following authorities:

Review that the policies, methodologies, procedures and processes used by the administrative units related to the Commission's supervision processes for the development of their authorities are adequate, consistent and in agreement with the Commission's supervision and regulation institutional strategies;

II.

Establish the necessary measures so that the administrative units related to the Commission's supervision processes develop their authorities in congruence with the policies, methodologies, procedures and processes established by the Commission, as well as in compliance with the laws relative to the Mexican financial system and other applicable legal provisions;

III.

Analyze the performance and activities of the administrative units related to the Commission's supervision processes, in order to carry them out with quality, based on best practices and within the applicable regulatory framework;

IV.

Coordinate the homogenization of the supervision practices of the Entities, societies authorized to operate with novel models, Investment Advisors, Federations, Protection Funds, representative offices of foreign financial entities, Currency Centers, Money Transmitters and Unregulated Multiple-Objective Financial Societies subject to the competence of the Commission, as well as promote the use of the manuals, tools and techniques established for such effect;

Elaborate, implement and keep updated the supervision manuals of the Entities, societies authorized to operate with novel models, Investment Advisors, Federations, Protection Funds, representative offices of foreign financial entities, Currency Centers, Money Transmitters and Unregulated Multiple-Objective Financial Societies supervised in the Commission, in coordination with the corresponding general directorates of supervision within the scope of their competences;

VI.

Coordinate the elaboration and follow-up to the annual program of inspection visits of the competent supervision administrative units of the Commission;

VII.

Periodically inform the President about the results of the authorities indicated in the previous subsections and the lines of action to be followed related to the Commission's supervision processes;

VIII.

Administer and coordinate the updating of the Register of Supervised Entities contained in the Commission's Internet page;

IX.

Administer and coordinate the updating of the register of persons who may carry out the function of auditor-manager of controlling societies or act as a member of the advisory council, in terms of article 127 of the LRAF, as well as determine the cancellation of said register in terms of article 130 of the LRAF;

Issue certifications of the documents held in their files, and

XI.

Exercise the authorities delegated to it by the President, through a delegatory agreement published in the Official Journal of the Federation and those otherwise provided for in this Regulation.

The authority referred to in subsection VIII of this article shall be exercised in coordination with the General Directorate of Social Communication, within the scope of their respective competences, in accordance with the corresponding internal procedures.

Article 55.- The General Directorate of Special Projects and Coordination with Authorities of the Financial System, through its head, shall exercise the following authorities:

Participate in the development of strategic projects derived from the National Development Financing Program, competence of the Commission;

II.

Organize the administrative units of the Commission that participate in the elaboration of the special projects in charge of the Commission;

III.

Act as the link of the Commission with other regulatory and supervisory authorities of the Mexican financial system in the coordination of special projects whose planning, development and execution require joint participation with these;

IV.

Design procedures and indicators to evaluate the results of the special programs and projects implemented by the Commission;

Plan and manage with the different financial authorities and participants in the Mexican financial system the elaboration and implementation of those measures required to comply with the National Development Financing Program, with respect to the topics that are competence of the Commission;

VI.

Direct investigations and studies for the programs proposed by the Federal Government in relation to the Mexican financial system;

VII.

Conduct the Commission's relations with the academic and research sector in relation to the studies and analysis of the Mexican financial system;

VIII.

Define the general criteria on which the President may determine the Entities, societies authorized to operate with novel models, Investment Advisors, Federations, Protection Funds, representative offices of foreign financial entities, Currency Centers, Money Transmitters, Unregulated Multiple-Objective Financial Societies, and other natural and legal persons subject to the supervision of the Commission, that will correspond to be supervised by each of the general directorates of supervision of this Commission, such designation will be published in the Register of Supervised Entities;

IX.

Exercise the authorities of the Commission when acting as a consultative body of the federal government in the matter of planning and development of the Mexican financial system;

Issue certifications of the documents held in their files, and

XI.

Exercise the authorities delegated to it by the President, through a delegatory agreement published in the Official Journal of the Federation, and those otherwise provided for in this Regulation.

The authority referred to in subsection VIII of this article shall be exercised prior to the opinion of the General Directorate of Supervision Methods and Processes, within the scope of its respective competence.

Article 56.- The General Directorate of Social Communication, through its head, shall exercise the following powers:

Supervise the content of informational and news releases issued through the media regarding the functioning of the Commission, the exercise of its powers, achievements, programs, public actions, and any other provided for in the Federal Government's social communication policy;

II.

Formulate, for higher approval, the campaigns, strategies, and programs of social communication of the Commission, with the intervention corresponding to the Secretariat of the Interior and, where applicable, the Secretariat of Finance and Public Credit, in accordance with the Federal Government's social communication policy;

III.

Direct and evaluate the Commission's information, dissemination, social communication, and public relations activities, as well as issue press releases;

IV.

Coordinate inter-institutional relations regarding dissemination and public relations in matters of social communication, and act as liaison with the Secretariat of Finance and Public Credit to unify criteria related to information and dissemination in matters within the Commission's competence;

Conduct relations with the media, as well as organize and supervise interviews and press conferences with national and international press related to matters within the Commission's competence;

VI.

Monitor national and international print and electronic media on topics linked to the Commission and the Mexican financial system as a whole;

VII.

Act as coordinator and liaison of the Commission with homologous regulatory and supervisory authorities to carry out, in accordance with applicable legal provisions, information exchange activities in matters of social communication;

VIII.

Plan the execution of pre-test studies to determine the impact, comprehension, and degree of acceptance among the target audience of the Commission's social communication campaign proposals, as well as post-test studies for evaluating the impacts and results of the Commission's social communication objectives and goals;

IX.

Integrate the information, dissemination, social communication, and public relations programs of the Commission's different administrative units and direct the support services in this matter;

Promote the institutional image of the Commission;

XI.

Design and coordinate the content of the Commission's Internet page and other applications, based on the information and updates generated by the Commission's administrative units;

XII.

Act as liaison of the Commission with the Secretariat of Finance and Public Credit for the attention of matters within this Commission's competence with the Honorable Congress of the Union, as well as with the Secretariat of the Interior in matters related to the General Law of Social Communication and the Federal Government's social communication policy;

XIII.

Issue certifications of documents held in its files, and

XIV.

Exercise the powers delegated to it by the President, through a delegatory agreement published in the Official Journal of the Federation, and those otherwise provided for in this Regulation.

Third Title

Of the Internal Control Body

Article 57.- The Internal Control Body at the Commission shall be headed by a person designated in accordance with Article 37, fraction XII of the Organic Law of the Federal Public Administration, who, in the exercise of their powers, shall be assisted by the heads of the audit, complaints, and responsibilities areas, designated in the same terms, who shall depend hierarchically, functionally, and budgetarily on the Secretariat of the Public Function.

The public servants referred to in the preceding paragraph, within the scope of their respective competencies, shall exercise the powers provided for in the Organic Law of the Federal Public Administration, the General Law of Administrative Responsibilities, the Internal Regulations of the Secretariat of the Public Function, and other applicable legal instruments.

Absences of the head of the Internal Control Body, as well as those of the heads of the audit, complaints, and responsibilities areas, shall be filled in accordance with what is provided for in the Internal Regulations of the Secretariat of the Public Function.

The Commission shall provide the Internal Control Body with the assistance it requires to perform its powers. Likewise, without exception and within applicable legal provisions, the Commission's public servants are obligated to provide them with the information and documentation required to fulfill their powers.

Fourth Title

Of Representation and Substitution

Article 58.- The President, the head of the Legal Vice Presidency, the head of the General Directorate of Crimes and Sanctions, and the head of the General Contenciosa Directorate shall have the legal representation of the Commission to intervene in judicial, administrative, or labor proceedings in which the Commission, including the Inter-institutional Committee, is a party or may be affected, in accordance with Articles 16, fraction I, and 17 of the LCNBV. These public servants may designate attorneys to carry out the processing of the aforementioned proceedings.

Article 59.- The President, the head of the Legal Vice Presidency, the head of the Vice Presidency for the Supervision of Preventive Processes, the head of the General Contenciosa Directorate, the head of the General Directorate of Crimes and Sanctions, the head of the General Directorate of Investigation Visits, the heads of the General Directorates for the Prevention of Operations with Resources of Illicit Origin A, B, and C, the head of the General Directorate for Attention to Authorities, the heads of the Legal Coordinations for Procedures A, B, and C, and the heads of the Coordinations for Attention to Authorities A, B, C, and D, shall have the legal representation of the Commission or the Inter-institutional Committee, as appropriate, for the attention of the matter according to the distribution of competencies established in this Regulation, in amparo trials in which the Commission or the Inter-institutional Committee are parties, in which they have an interest in intervening, or in which they may be affected. These public servants may designate delegates in amparo trials in accordance with the Amparo Law, which regulates Articles 103 and 107 of the Political Constitution of the United Mexican States.

The Board of Governors shall be represented indistinctly in amparo trials by the head of the Legal Vice Presidency, by the head of the General Contenciosa Directorate, by the head of the General Directorate of Crimes and Sanctions, or by the heads of the Legal Coordinations for Procedures A, B, or C. These public servants may designate delegates in amparo trials in accordance with the Amparo Law, which regulates Articles 103 and 107 of the Political Constitution of the United Mexican States.

The Inter-institutional Committee shall be represented indistinctly in amparo trials by the head of the Legal Vice Presidency, by the head of the General Contenciosa Directorate, by the head of the General Directorate of Crimes and Sanctions, and by the heads of the Legal Coordinations for Procedures A, B, or C. These public servants may designate delegates in amparo trials in accordance with the Amparo Law, which regulates Articles 103 and 107 of the Political Constitution of the United Mexican States.

The President shall be represented indistinctly in amparo trials by the head of the Legal Vice Presidency, by the head of the General Contenciosa Directorate, by the head of the General Directorate of Crimes and Sanctions, or by the heads of the Legal Coordinations for Procedures A, B, or C. These public servants may designate delegates in amparo trials in accordance with the Amparo Law, which regulates Articles 103 and 107 of the Political Constitution of the United Mexican States.

The heads of the Vice Presidencies for the Supervision of Groups and Financial Intermediaries A and B, for the Supervision of Development Banking and Popular Finance, for Stock Market Supervision, Technical, Regulatory Policy, Legal, Normativity, Preventive Processes Supervision, and Strategic Administration and Planning, shall be represented indistinctly in amparo trials by the heads of the general directorates or coordinations attached to them, by the head of the General Contenciosa Directorate, by the head of the General Directorate of Crimes and Sanctions, or by the heads of the Legal Coordinations for Procedures A, B, or C. These public servants may designate delegates in amparo trials in accordance with the Amparo Law, which regulates Articles 103 and 107 of the Political Constitution of the United Mexican States.

The heads of the general directorates shall be represented indistinctly in amparo trials by the heads of the vice presidencies to which they are attached, by the heads of the coordinations attached to them, by the head of the General Contenciosa Directorate, by the head of the General Directorate of Crimes and Sanctions, or by the heads of the Legal Coordinations for Procedures A, B, or C. These public servants may designate delegates in amparo trials in accordance with the Amparo Law, which regulates Articles 103 and 107 of the Political Constitution of the United Mexican States.

The heads of the coordinations shall be represented indistinctly in amparo trials by the heads of the vice presidencies or general directorates to which they are attached, by the head of the General Contenciosa Directorate, by the head of the General Directorate of Crimes and Sanctions, or by the heads of the Legal Coordinations for Procedures A, B, or C. These public servants may designate delegates in amparo trials in accordance with the Amparo Law, which regulates Articles 103 and 107 of the Political Constitution of the United Mexican States.

The other public servants shall be represented indistinctly in amparo trials by the public servant who is their immediate hierarchical superior, by the head of the General Contenciosa Directorate, by the head of the General Directorate of Crimes and Sanctions, or by the heads of the Legal Coordinations for Procedures A, B, or C. These public servants may designate delegates in amparo trials in accordance with the Amparo Law, which regulates Articles 103 and 107 of the Political Constitution of the United Mexican States.

Article 60.- The President shall be substituted in their absences by the head of the Legal Vice Presidency, by the head of the Vice Presidency for the Supervision of Preventive Processes, by the head of the Vice Presidency for Normativity, by the head of the Vice Presidency for Stock Market Supervision, by the head of the Vice Presidency for Technical matters, by the head of the Vice Presidency for the Supervision of Groups and Financial Intermediaries A, by the head of the Vice Presidency for the Supervision of Groups and Financial Intermediaries B, by the head of the Vice Presidency for the Supervision of Development Banking and Popular Finance, by the head of the Vice Presidency for Regulatory Policy, and by the head of the Vice Presidency for Strategic Administration and Planning, in the order indicated.

Article 61.- The heads of the vice presidencies shall be substituted in their absences or by lack of designation thereof, by the heads of the general directorates attached to them, according to the organizational attachment that the Board of Governors determines for this purpose through an agreement published in the Official Journal of the Federation, in the order in which they appear cited in said agreement.

The heads of the general directorates shall be substituted in their absences by the heads of the coordinations depending on them, in matters within their respective competence. In the case of those heads of general directorates from which no head of a coordination depends, they may be substituted in their absences by the heads of the area directorates depending on them, in matters within their respective competence. Likewise, the heads of the coordinations shall be substituted by the heads of the area directorates depending on them, in matters within their respective competence.

Fifth Title

Of the Exercise of Powers

Article 62.- The Technical Vice Presidency, the Vice Presidencies for the Supervision of Groups and Financial Intermediaries A and B, for the Supervision of Development Banking and Popular Finance, and for Stock Market Supervision, as well as the general directorates attached to them, through their heads and within the scope of their competence, shall have inspection powers to conduct visits, verification of operations, and auditing of records and systems, in the facilities or automated equipment of Entities, societies authorized to operate with novel models, Investment Advisors, Federations, Protection Funds, participants in networks referred to in the LTOSF, or persons not formally subject to their supervision, with the exclusive object of ensuring that the operations of the Entities, societies authorized to operate with novel models, Investment Advisors, Federations, Protection Funds, participants in networks, or persons who supervise them, comply with applicable legal and administrative provisions.

The inspection powers referred to in the preceding paragraph shall be exercised by the aforementioned public servants, jointly with the head of the vice presidency or general directorate that has the power to supervise the Entity, society authorized to operate with novel models, Investment Advisor, Federation, Protection Fund, participant in networks referred to in the LTOSF, or person in question, for which they may establish the form and terms in which they are obligated to provide the data, reports, records, minute books, auxiliaries, documents, correspondence, and, in general, the information and documentation deemed necessary for the exercise of these powers, in accordance with what is provided in this matter by the LCNBV, the LRAF, the LRSIC, the LIC, the LGOAAC, the LMV, the LFI, the LACP, the LUC, the LRASCAP, the LTOSF, the LRITF, and other laws, with the information and documentation regarding the holder or beneficiary corresponding to the operations and services carried out by said Entities or persons with their clientele, which in terms of the laws relative to the Mexican financial system are protected by some type of secrecy, being included in said requirements for information and documentation.

The Legal, Stock Market Supervision, and Technical Vice Presidencies, as well as the general directorates attached to them, shall not be subject to the requirement stated in this article, when exercising their powers in contentious matters, crime opinions, sanctions, information and documentation requests, investigations, and visits to comply with managerial or administrative intervention orders decreed by the Commission, as they may exercise them individually.

Article 63.- Public servants attached to the Technical Vice Presidency, the Vice Presidencies for the Supervision of Groups and Financial Intermediaries A and B, for the Supervision of Development Banking and Popular Finance, for Stock Market Supervision, and for the Supervision of Preventive Processes, with the hierarchical level of head of a coordination indicated in the agreement by which the administrative units of the Commission are organizationally attached, and within the scope of their competence, shall have the powers indicated in Article 19, fractions III, IV, X, XI, and XII of this Regulation.

The heads of the vice presidencies, general directorates, and coordinations indicated in the agreement by which the administrative units of the Commission are organizationally attached, in the administrative acts they sign in the exercise of the powers conferred by this Regulation, may authorize other public servants of the Commission to collect, request, or ask for the exhibition of the information and documentation necessary for the performance of supervision powers, as well as to perform the necessary activities in the processing of any inspection or visit intended to be carried out. The exercise of the aforementioned powers in favor of the authorized public servants shall be limited to their performance during the conduct of inspection visits or the processing of administrative proceedings.

Article 64.- The powers granted by this Regulation to the heads of the vice presidencies and general directorates shall be exercised by them individually or by two public servants depending on them, within the scope of their competence, provided that they act jointly and hold appointments as heads of a coordination or area directorate.

The coordinations, which according to this Regulation have expressly granted powers, may exercise them individually through their head, or jointly by two public servants depending on them, with the hierarchical level of head of an area directorate or sub-directorate, in matters within their respective competence.

Regarding authorizations, unless they are authorizations for the dissemination of information for purposes of promotion, marketing, or advertising on securities, the prospectus of information to the investing public and its modifications, as well as approvals for institutional investment in terms of the LMV; registrations; inquiries regarding the application of provisions issued by the Commission related to the operation and functioning of Entities, societies authorized to operate with novel models, Investment Advisors, Currency Exchanges, Money Transmitters, and Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission, Federations, Protection Funds, offices of representation of foreign financial entities, participants in networks referred to in the LTOSF, and other persons carrying out activities provided for in the laws of the Mexican financial system or the infringement thereof; opinions that according to the laws correspond to the Commission to issue; suspension of operations; notices for revocation of authorizations or cancellations of registration; revocations; sanctions, and the celebration of contracts or agreements that according to the law are within the competence of the Commission to issue or celebrate, the relevant documents must be signed by a public servant from the General Directorates of Authorizations to the Financial System, Specialized Authorizations, Provisions, Contenciosa, Crimes and Sanctions, or Stock Market Legal Affairs, according to the scope of their respective matters of competence, together with the public servants from the vice presidencies in charge of the supervision of the Entity, society authorized to operate with novel models, Investment Advisor, Currency Exchange, Money Transmitter, or Unregulated Multiple-Object Financial Society subject to the supervision of the Commission, Federation, Protection Fund, office of representation of foreign financial entities, participant in networks referred to in the LTOSF, or other persons carrying out activities provided for in the laws of the Mexican financial system, except in the case of contentious matters, crime opinions, and sanctions, which according to this Regulation are within the competence of the aforementioned General Directorates of Contenciosa or Crimes and Sanctions, in which case they may exercise them individually. The issuance of general provisions in matters of accounting, external auditing, account catalogs, formulation and publication of financial statements; the authorization of special accounting criteria or records or for the opening of accounts and sub-accounts, which require a technical accounting analysis, the corresponding documents must be additionally signed by a public servant from the General Directorate of Regulatory Development. The issuance of opinions related to the maintenance and promotion of the Mexican financial system must be additionally signed by a public servant from the General Directorate
for Access to Financial Services.

The provisions in the preceding paragraph shall not apply to the powers referred to in Articles 48 and 49 of this Regulation.

For the issuance of authorizations, registrations, suspension of operations, revocations, cancellations of registration, and the imposition of sanctions, the public servants referred to in the preceding paragraphs must hold positions of head of a general directorate or higher, or of equivalent rank.

Article 65.- The heads of the vice presidencies, general directorates, and other public servants of the Commission who, in the exercise of the powers conferred by this Regulation, require requesting information from international organizations with supervisory and regulatory functions similar to those of the Commission or, where applicable, authorities of other countries with similar powers, must do so in coordination with the General Directorate of International Affairs.

TRANSITORY PROVISIONS

FIRST.- This Regulation shall enter into force the day following its publication in the Official Journal of the Federation.

SECOND.- The Internal Regulations of the National Banking and Securities Commission published in the Official Journal of the Federation on November 12, 2014, are hereby repealed.

THIRD.- Matters that are pending or awaiting conclusion on the date of entry into force of this Regulation and that, according to it, must be attended to by an administrative unit

different from that which corresponds in accordance with the provisions that are repealed, will continue their processing and will be resolved by that or those administrative units to which competence is attributed under this regulation.

The personnel, files in process, archives, furniture, and in general, equipment under the charge of the administrative units that cease to have competence in the matters in question by virtue of the entry into force of these Regulations, will pass to the new unit or units of competent administrative units, being distributed, if applicable, in accordance with the scope of attributions corresponding to each.

FOURTH.- The references and attributions made and granted in decrees, regulations, agreements, rules, manuals, and other provisions, to the administrative units of the National Banking and Securities Commission that change their name by virtue of these Regulations, shall be understood as made or conferred to the administrative units that result competent under this regulation.

FIFTH.- When, in terms of the last paragraph of Article 57 of these Regulations, the assistance provided by the National Banking and Securities Commission to the Internal Control Body of the Ministry of Public Function involves budgetary resources, such support shall be carried out in accordance with the criteria determined by the Ministry of Finance and Public Credit and the Ministry of Public Function, observing what is provided in the Fifth Transitory Article of the Decree by which various provisions of the Organic Law of the Federal Public Administration are reformed, added, and repealed, published in the Official Gazette of the Federation on November 30, 2018.

Given at the Residence of the Federal Executive Power, in Mexico City on February 21, 2022.-

Andrés Manuel López Obrador .- Signature.- The Secretary of Finance and Public Credit, Rogelio Eduardo Ramírez de la O .- Signature.

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Internal Regulations of the National Banking and Securities Commission

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