INTERNAL REGULATIONS OF THE NATIONAL BANKING AND SECURITIES COMMISSION

Published in the Official Gazette of the Federation on February 28, 2022.

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, I have deemed it appropriate to issue the following

INTERNAL REGULATIONS OF THE NATIONAL BANKING AND SECURITIES COMMISSION

Title One

General Provisions

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, shall exercise, to achieve its objectives, the powers conferred upon it by its own Law, laws related to the Mexican financial system, as well as other applicable legal frameworks.

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

For the purposes of the provisions of this Regulation, the laws of the Mexican financial system are those issued by the Congress of the Union in matters of intermediation and financial services, based on Section X of Article 73 of the Political Constitution of the United Mexican States, which grant the Commission regulatory and supervisory powers regarding Entities, Investment Advisors, Federations, Protection Funds, Currency Exchanges, Money Transmitters, Unregulated multi-objective financial societies, 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.

Title Two

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 administrative bodies and units:

I. Board of Directors;
II. Interinstitutional Committee;
III. Presidency;
IV. Vice Presidencies, and
V. General Directorates.

At the head of the Presidency, Vice Presidencies, and General Directorates shall be, respectively, the President and the heads of the Vice Presidencies and General Directorates.

The heads of the General Directorates shall be assisted, for the processing and resolution of matters within their competence, by the heads of coordinations, area directorates, and subdirectorates, as well as by inspectors, specialists, and other personnel required to meet service needs, as determined by the Commission by agreement of the Board of Directors, in accordance with budgetary availability.

Article 4. The President, in the performance of their powers and functions, shall be assisted by the following public servants and administrative units:

I. Public servants:
A. Heads of Vice Presidencies, and
B. Heads of General Directorates, and
II. Administrative units:
A. Vice Presidencies:
1) Vice Presidency for Supervision of Groups and Financial Intermediaries A;
2) Vice Presidency for Supervision of Groups and Financial Intermediaries B;
3) Vice Presidency for Supervision of Development Banking and Popular Finance;
4) Vice Presidency for Stock Market Supervision;
5) Technical Vice Presidency;
6) Vice Presidency for Regulatory Policy;
7) Legal Vice Presidency;
8) Vice Presidency for Normativity;
9) Vice Presidency for Supervision of Preventive Processes, and
10) Vice Presidency for Administration and Strategic Planning, and
B. General Directorates:
1) General Directorate for Supervision of Groups and Financial Intermediaries A;
2) General Directorate for Supervision of Groups and Financial Intermediaries B;
3) General Directorate for Supervision of Groups and Financial Intermediaries C;
4) General Directorate for Supervision of Groups and Financial Intermediaries D;
5) General Directorate for Supervision of Groups and Financial Intermediaries E;
6) General Directorate for Supervision of Groups and Financial Intermediaries F;
7) General Directorate for Supervision of Credit Unions;
8) General Directorate for Supervision of Popular Financial Societies A;
9) General Directorate for Supervision of Popular Financial Societies B;
10) General Directorate for Supervision of Development Banking and Promotion Entities;
11) General Directorate for Supervision of Savings and Loan Cooperatives A;
12) General Directorate for Supervision of Savings and Loan Cooperatives B;
13) General Directorate for Supervision of Entities and Stock Market Intermediaries;
14) General Directorate for Investment Management;
15) General Directorate for Stock Market Legal Affairs;
16) General Directorate for Issuers;
17) General Directorate for Supervision of Market Participants' Conduct;
18) General Directorate for Methodologies and Risk Analysis;
19) General Directorate for Supervision of Operational and Technological Risk;
20) General Directorate for Supervision of Information Security;
21) General Directorate for Analysis and Information;
22) General Directorate for Supervision of Financial Technology Institutions;
23) General Directorate for Supervision of Network Participants;
24) General Directorate for Regulatory Development;
25) General Directorate for International Affairs;
26) General Directorate for Economic Studies;
27) General Directorate for Access to Financial Services;
28) General Directorate for Crimes and Sanctions;
29) General Directorate for Litigation;
30) General Directorate for Investigation Visits;
31) General Directorate for Authorizations to the Financial System;
32) General Directorate for Specialized Authorizations;
33) General Directorate for Provisions;
34) General Directorate for Governing Bodies and Legal Consultancy;
35) General Directorate for Prevention of Operations with Illicitly Obtained Resources A;
36) General Directorate for Prevention of Operations with Illicitly Obtained Resources B;
37) General Directorate for Prevention of Operations with Illicitly Obtained Resources C;
38) General Directorate for Authority Attention;
39) General Directorate for Information Technology;
40) General Directorate for Programming, Budget, and Material Resources;
41) General Directorate for Organization and Human Resources;
42) General Directorate for Strategic Planning;
43) General Directorate for Supervision Methods and Processes;
44) General Directorate for Special Projects and Coordination with Financial System Authorities, and
45) General Directorate for Social Communication.

Article 5. The person occupying the position of President must satisfy the requirements referred to in Article 15 of the LCNBV. Regarding the heads of Vice Presidencies, General Directorates, and members of the Board of Directors, they must satisfy the requirements referred to in Sections III to V of said Article.

The President shall appoint the public servants of the Commission, in cases where they have such authority under applicable legislation.

Chapter II

On the Board of Directors

Article 6. The Board of Directors shall be composed and function in accordance with the provisions of Articles 11 and 13 of the LCNBV, with the exercise of the powers established in Article 12 of said Law and others expressly attributed to it by other legal frameworks.

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

The Secretary of the Board of Directors shall exercise the following functions:

I. Compile the agenda for ordinary and extraordinary meetings of the Board of Directors, in accordance with what has been approved by the President, when convened, for which they shall receive the documentation or information regarding 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 meetings 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 meetings;
IV. Follow up on the agreements of the Board of Directors. To this effect, they shall 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 meetings.

The minutes of the Board of Directors meetings shall be kept in books and signed by whoever presided over said Board and by the Secretary of this, as well as by the members of the Board of Directors present, and documents related to the session in question shall also be kept in said books.

Article 8. The members of the Board of Directors shall 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 members of the Board of Directors must excuse themselves from deliberating on one or more points on the agenda of the meetings of said collegiate body, when there is a legal impediment or conflict of interest that prevents them from deliberating, resolving, or voting on specific matters.

Article 9. The agreements of the Board of Directors may be executed, according to the scope of their competence, by the President, the heads of 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 authority to impose administrative sanctions for violations of laws related to the Mexican financial system and general provisions emanating from them, in accordance with Article 12, Section IV of the LCNBV, taking into account the nature of the violation or the amount of the sanction. Such delegation agreement must be published in the Official Gazette of the Federation.

The President and the public servants in question may be assisted in the exercise of the delegated powers for imposing sanctions, by the committee or committees established by the Board of Directors for such effect, with the Board itself determining the rules for their organization, composition, and functioning.

Chapter III

On the Interinstitutional Committee

Article 11. The Interinstitutional Committee shall be composed and function in accordance with Article 35 of the LRITF and the bases issued for such effect by the Committee itself, with the exercise of the powers established in Articles 11, 15, 22, Section IV of Article 36, Sections V and XVI of Article 39, Article 44, 55, 62, and 69 of the LRITF.

Article 12. The agreements of the Interinstitutional Committee may be executed, according to the scope of their competence, by the President, the heads of 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 shall have the powers conferred by Articles 16 and 17 of the LCNBV and other applicable legal frameworks. In all cases, in exercising their powers, they may:

I. Exercise those that are non-delegable, referring 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 supervisory and regulatory functions similar 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 in Entities subject to the Commission's supervision, with the object 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) The total or partial forgiveness of administrative sanctions; c) General provisions that require the 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 the provisions of this Regulation and other applicable legal provisions, in order to be submitted to the consideration of the corresponding authority; e) The organization, constitution, and operation of Entities, as well as for them to operate with novel models, and of societies intending to operate with novel models, which require the 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 shall 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 multi-objective financial societies, or natural or legal persons subject to the Commission's supervision, 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 Societies A and B; of Investment Management; of Supervision of Entities and Stock Market Intermediaries; of Issuers; of Supervision of Network Participants; of Supervision of Operational and Technological Risk; of Supervision of Information Security; 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 Illicitly Obtained Resources A, B, and C, according to the classification established in the Register of Supervised Entities published on the Commission's website.

Article 14. The President, the heads of Vice Presidencies, General Directorates, and coordinations, shall have the legal representation of the Commission, to exercise the powers within their respective competence and to notify any administrative act issued by the Commission in accordance with applicable legal provisions.

Article 15. The President shall exercise directly or, through a delegation agreement, through the heads of Vice Presidencies, General Directorates, and other public servants of the Commission, the powers provided in Sections I, V, VI, VIII, XIII, XV, and XVI of Article 16 of the LCNBV and other powers that respective legal frameworks do not designate as non-delegable.

Agreements delegating powers shall be published in the Official Gazette of the Federation.

Article 16. The President shall appoint, 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 Vice Presidencies and General Directorates

First Section

On Vice Presidencies

Article 17. Vice Presidencies, through their heads, shall exercise, through the signing of necessary administrative acts, the powers and resolution of matters within the competence of the General Directorates and coordinations under their jurisdiction, as determined by the Board of Directors by agreement published in the Official Gazette of the Federation; this without prejudice to the exercise of such powers by the heads of said General Directorates and coordinations.

Likewise, they shall exercise the following executive powers:

I. Periodically inform the President and the Board of Directors of the exercise of their powers;
II. Prepare for the President's agreement, and if applicable, present the information and documentation prepared by the General Directorates under their jurisdiction that must be submitted to the consideration and approval of the Board of Directors, except those that are within the exclusive competence of the President, as well as those matters that the President deems convenient to submit to the consideration of the Board of Directors;
III. Plan, formulate, and direct the annual work programs of the administrative units under their jurisdiction;
IV. Receive the heads of administrative units under their jurisdiction by agreement;
V. Participate in consultation forums and associations of supervisory and regulatory bodies at the national and international level, the latter in coordination with the General Directorate for International Affairs and prior instruction from the President. In the performance of such powers, 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 documents held in their files, and

VIII. Carry out the other activities that, in accordance with their competence, derive from the applicable legal provisions and the delegatory agreements.

Second Section
Of the General Directorates

Article 18.- 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 Companies A and B; of Investment Administration; of Supervision of Securities Entities and Intermediaries; of Issuers; of Methodologies and Risk Analysis; of Supervision of Participants in Networks; of Supervision of Market Participants' Conduct; of Supervision of Financial Technology Institutions; and of Prevention of Operations with Resources of Illicit Origin A, B and C, within the scope of their respective competencies and in accordance with what is provided in this Regulation, shall exercise, through their heads, the supervisory attributions that, under the applicable legal frameworks, correspond to the Commission, constantly striving to improve supervision through the development, updating, and harmonization of supervisory methodologies.

In exercising the supervisory attributions referred to in this article, the General Directors may:

I. Order the conduct of inspection visits, carry out surveillance, and determine corrective measures, and, where 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 Commission's supervision, according to the scope of their competence, in accordance with the applicable legal provisions;

II. Authorize the personnel assigned to them to request the information and documentation they deem necessary during the conduct of an inspection visit, including that 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, Currency Exchanges, Money Transmitters, Unregulated Multiple-Object Financial Companies subject to the Commission's supervision that, under the laws relating 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 Entities they supervise are subject, the control systems, and the quality of administration, which they may carry out individually or on a consolidated basis 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 the discretionary and non-discretionary risks to which Entities are exposed, in accordance with the 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 this fraction, 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 product 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, Currency Exchanges, Money Transmitters, Unregulated Multiple-Object Financial Companies subject to the Commission's supervision, whether ordinary, special, or investigative, for which they may carry out the review, verification, validation, and evaluation of operations and audit of records and processes, including those located in automated systems, within the scope of their competence, to verify the status of Entities, societies authorized to operate with novel models, Investment Advisors, Currency Exchanges, Money Transmitters, Unregulated Multiple-Object Financial Companies subject to the Commission's supervision, ensuring compliance with the legal frameworks governing them, as well as with the sound uses and practices of financial markets;

V. Monitor, through the analysis of economic, financial, accounting, and corporate information and documentation, the compliance with applicable legal frameworks by Entities, societies authorized to operate with novel models, Investment Advisors, Currency Exchanges, Money Transmitters, or Unregulated Multiple-Object Financial Companies subject to the Commission's supervision that they supervise;

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, for which purpose they may order investigative visits to the alleged responsible parties;

VII. Make observations to Entities, societies authorized to operate with novel models, Investment Advisors, Currency Exchanges, Money Transmitters, Unregulated Multiple-Object Financial Companies subject to the Commission's supervision, when, in the exercise of their inspection and surveillance functions, they detect elements from which facts, acts, or omissions implying the probable non-compliance with applicable provisions or sound practices of financial markets may derive;

VIII. Formulate recommendations to Entities, societies authorized to operate with novel models, Investment Advisors, Currency Exchanges, Money Transmitters, or Unregulated Multiple-Object Financial Companies subject to the Commission's supervision; and

IX. Exercise the attributions set forth in Article 19 and others of this Regulation, as applicable to the scope of their competence.

The conduct of investigative visits to Entities and Investment Advisors to verify compliance with the Securities Market Law (LIC), Securities Law (LMV), Financial Institutions Law (LFI), and general provisions emanating from these, 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 attributions established by 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, regarding 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 Companies 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, when so agreed with the General Directorates of Prevention of Operations with Resources of Illicit Origin A, B or C. These attributions shall be exercised in coordination in accordance with the corresponding internal processes.

The attributions referred to in this article regarding Currency Exchanges, Money Transmitters, and Unregulated Multiple-Object Financial Companies 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 Companies A and B; of Investment Administration; of Supervision of Securities Entities and Intermediaries; of Issuers; of Methodologies and Risk Analysis; of Supervision of Participants in Networks; of Supervision of Market Participants' Conduct; of Supervision of Financial Technology Institutions; and of Prevention of Operations with Resources of Illicit Origin A, B and C, through their heads, within the scope of their competence and without prejudice to the supervisory attributions referred to in Article 18 of this Regulation, may:

I. Draft and, where applicable, propose for approval by the Vice Presidency to which they are attached, the annual supervision program for Entities, societies authorized to operate with novel models, Investment Advisors, Currency Exchanges, Money Transmitters, or Unregulated Multiple-Object Financial Companies subject to the Commission's supervision, within the scope of their competence;

II. Coordinate ordinary inspection visits that have been planned in accordance with the annual supervision program, as well as order the conduct of special or investigative visits to Entities, societies authorized to operate with novel models, Investment Advisors, Currency Exchanges, Money Transmitters, or Unregulated Multiple-Object Financial Companies subject to the Commission's supervision, within the scope of their competence, in accordance with what is provided in this Regulation, informing them of the corresponding acts of authority and registering both the results and the evaluation thereof through the reports formulated on the subject. In all cases, they may request information and documentation regarding Entities, societies authorized to operate with novel models, Investment Advisors, Currency Exchanges, Money Transmitters, or Unregulated Multiple-Object Financial Companies subject to the Commission's supervision, including data, reports, records, minute books, auxiliary records, papers, documents, correspondence, and other information and documentation they deem necessary for the exercise of their inspection and surveillance attributions;

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 shall have the attributions to request reports of an economic, accounting, financial, administrative, corporate, and legal nature that they require for such purposes, as well as to conduct any type of visit. Likewise, they shall follow up and verify, where 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;

V. Dictate the necessary measures so that Entities, Investment Advisors, Currency Exchanges, Money Transmitters, Unregulated Multiple-Object Financial Companies subject to the Commission's supervision, or societies authorized to operate with novel models, within the scope of their competence, in accordance with what is provided in this Regulation, adjust their activities and operations to the laws applicable to them, the general provisions derived from them, commercial, securities, and banking usages, the sound practices of financial markets, and other applicable legal provisions, for which they shall have, among others, the following attributions:

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

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

c) Order modifications to the documents that Entities, societies authorized to operate with novel models, Investment Advisors, Currency Exchanges, Money Transmitters, or Unregulated Multiple-Object Financial Companies subject to the Commission's supervision must prepare, in accordance with what is established in 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;

d) Require additional capitalization requirements beyond those indicated in the applicable legal provisions, in accordance with what is indicated therein;

e) Order the suspension of operations of the Entities under the terms provided in the LCNBV;

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

g) Propose to the President the celebration of compulsory compliance programs in terms of what is established in Article 5, seventh paragraph of the LCNBV;

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

i) Dictate other measures deemed pertinent in accordance with the laws of the Mexican financial system and other applicable legal provisions;

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

k) 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;

l) Order, in accordance with what is provided in the laws of the Mexican financial system, 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

m) 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 applicable, with compulsory compliance 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 effect, they may celebrate or sign compulsory compliance agreements. The attribution 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 drafting of regulation applicable to Entities, societies authorized to operate with novel models, Investment Advisors, Currency Exchanges, Money Transmitters, or Unregulated Multiple-Object Financial Companies subject to the Commission's supervision;

VIII. 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 deemed appropriate within the scope of their attributions;

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

X. Specify the form and terms in which Entities, societies authorized to operate with novel models, Investment Advisors, Currency Exchanges, Money Transmitters, or Unregulated Multiple-Object Financial Companies subject to the Commission's supervision, shall be obligated to provide to the Commission itself, the data, reports, records, minute books, auxiliary records, documents, correspondence, and, in general, the information and documentation they deem necessary for the exercise of their inspection and surveillance attributions, 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, Currency Exchanges, Money Transmitters, or Unregulated Multiple-Object Financial Companies, that, under the laws relating 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;

XI. Act, where applicable, as a liaison with the inspectors designated by the President, or exercise the attributions regarding the precautionary administrators designated by the Institute for the Protection of Bank Savings, under 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 the applicable legal provisions;

XIII. Require information and documentation from Entities, societies authorized to operate with novel models, Investment Advisors, Currency Exchanges, Money Transmitters, or Unregulated Multiple-Object Financial Companies subject to the Commission's supervision, regarding their shareholders and related persons concerning the activities of said Entities, societies authorized to operate with novel models, Investment Advisors, Currency Exchanges, Money Transmitters, or Unregulated Multiple-Object Financial Companies, in accordance with the applicable legal provisions;

XIV. Dictate the coercive 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 attributions delegated to them by the President, through a delegatory agreement published in the Official Gazette of the Federation and others provided for in this Regulation.

The attributions referred to in this article regarding Currency Exchanges, Money Transmitters, and Unregulated Multiple-Object Financial Companies shall be limited to the supervision of acts,

omissions or operations that could fall under the circumstances set forth in Articles 139 Quáter or 400 Bis of the Federal Penal Code.

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 Development 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 Securities Market Entities and Intermediaries; of Issuers; of Methodologies and Risk Analysis; of Supervision of Network Participants; of Supervision of Market Participant Conduct; and of Supervision of Financial Technology Institutions, through their heads, within the scope of their 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 the Entities for the provision of 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:

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

II. Make known to their hierarchical superior 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 the applicable legal provisions and within the scope of their competence, adjust their activities and operations to the laws applicable to them, to the general provisions derived from them, to commercial, stock exchange and banking usages, to the sound practices of the financial markets and other legal frameworks;

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

V. 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, auxiliary records, documents, correspondence and, in general, the information and documentation that they deem necessary for the exercise of their inspection and surveillance powers, in accordance with the applicable legal provisions and within the scope of their 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. Require 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 coercive 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:

I. Carry out the supervision of:

a) Holding 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;

b) Sub-holding 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;

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

d) Regulated multiple-object financial societies;

e) Exchange houses and general warehouse receipts, whether or not they have the status of subsidiaries;

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

g) Other natural or legal persons who, without being Entities referred to in this fraction, carry out activities foreseen in the LRAF, the LIC and 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;

h) Companies that provide complementary or auxiliary services in the administration of the Entities referred to in items a) and c) of this fraction, as well as the real estate societies of these, unless they are participants in networks referred to in the LTOSF, and

i) Self-regulatory banking bodies;

II. Exercise the powers set forth in Articles 18, 19 and 20 of these Regulations, with respect to the Entities, representative offices of foreign financial entities and persons referred to in the previous fraction;

III. Authorize and, where applicable, 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 by the Commission, with respect to the Entities, representative offices of foreign financial entities and persons referred to in fraction 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 dictating the operational, economic, financial and administrative aspects of the acts subject to its competence;

IV. Issue the opinions that the competent authorities request from the Commission, in the administrative authorization procedures and, where applicable, approval 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, representative offices of foreign financial entities and persons referred to in fraction I of this article. This power shall be exercised by analyzing and dictating the operational, economic, financial and administrative aspects of the acts subject to its competence;

V. Request the information and documentation that is necessary for the exercise of their powers from the stock exchanges, securities depository institutions and central counterparties, in order to verify that the securities operations 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 fraction I of this article, within the competence scope of the Commission;

VII. Supervise with respect to the Entities referred to in items c) and e) 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, 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 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;

IX. Prepare the opinions 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 representative offices of foreign financial entities referred to in the LIC, within their competence scope, which must be approved by the Board of Directors;

X. Prepare the opinions 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 fraction I of this article, within their competence scope, 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 supervisor-manager of the holding 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-Object Financial Societies, exchange houses and general warehouse receipts, grouped in terms of the LRAF or not grouped, 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 fraction VII of this article when it comes to the distribution of investment funds, shall correspond to the General Directorate of Investment Administration.

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 competences, in accordance with the corresponding internal procedures.

Article 22.- The General Directorate of Supervision of Credit Unions, through its head, shall exercise the following powers:

I. Carry out the supervision of:

a) Credit unions;

b) 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 societies of these latter;

c) Regulated multiple-object financial societies, and

d) Other natural or legal persons who, without being Entities referred to in this fraction, carry out activities foreseen 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 set forth in Articles 18, 19 and 20 of these Regulations, 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 LUC, the LGOAAC, the LRITF and the general provisions emanating from these laws, correspond to be granted by the Commission, with respect to the Entities and persons referred to in fraction 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 dictating the operational, economic, financial and administrative aspects of the acts subject to its competence;

IV. Issue the opinions that the competent authorities request from the Commission, in the administrative authorization procedures and, where applicable, approval 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 fraction I of this article. This power shall be exercised by analyzing and dictating the operational, economic, financial and administrative aspects of the acts subject to its competence;

V. Prepare the opinions 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 LUC, within their competence scope, which must be approved by the Board of Directors;

VI. Supervise with respect to the Entities and other persons referred to in items a) to 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

VII. Prepare the opinions 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 fraction I of this article, within their competence scope, 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 Specialized Authorizations, within the scope of their respective competences, in accordance with the corresponding internal procedures.

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

I. Carry out the supervision of:

c) Popular financial societies;

d) Community financial societies with operation levels I to IV;

e) Rural financial integration bodies;

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

g) Regulated multiple-object financial societies, and

h) Other natural or legal persons who, without being Entities referred to in this fraction, carry out activities foreseen 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 set forth in Articles 18, 19 and 20 of these Regulations, with respect to the Entities, Federations, Protection Fund and persons referred to in the previous fraction;

III. Authorize and, where applicable, 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 by the Commission, with respect to the Entities, Federations, Protection Fund and persons referred to in fraction 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 dictating the operational, economic, financial and administrative aspects of the acts subject to its competence;

IV. Issue the opinions that the competent authorities request from the Commission, in the administrative authorization procedures and, where applicable, approval, 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 fraction I of this article. This power shall be exercised by analyzing and dictating the operational, economic, financial and administrative aspects of the acts subject to its competence;

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

VI. Prepare the opinions 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 LACP, within their competence scope, which must be approved by the Board of Directors;

VII. Supervise with respect to the Entities, Federations, Protection Fund and other persons referred to in items c) to g) 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

VIII. Prepare the opinions 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 fraction I of this article, within their competence scope, which must be approved by the Board of Directors.

Article 24.- The General Directorate of Supervision of Development Banking and Development Entities, through its head, shall exercise the following powers:

I. Carry out the supervision of:

a) Development banking institutions;

b) Regulated multiple-object financial societies;

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

d) The Institute of the National Fund for Workers' Consumption;

e) The Institute of the National Housing Fund for Workers;

f) 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;

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

h) Other natural or legal persons who, without being Entities referred to in this fraction, carry out activities foreseen 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 set forth in Articles 18, 19 and 20 of these Regulations, 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 organic laws applicable to development banking institutions, the LIC, the LGOAAC, the LRITF and other laws that so provide, correspond to be granted by the Commission, with respect to the Entities and persons referred to in fraction 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 dictating the operational, economic, financial and administrative aspects of the acts subject to its competence;

IV. Issue the opinions that the competent authorities request from the Commission, in the administrative authorization procedures and, where applicable, approval, 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 fraction I of this article. This power shall be exercised by analyzing and dictating the operational, economic, financial and administrative aspects of the acts subject to its competence;

V. Exercise the inspection of national credit societies, in order to verify compliance with the labor provisions applicable to said societies. To this effect, it shall 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 fraction I of this article, within the competence scope of the Commission;

VII. Supervise with respect to the Entities and other persons referred to in items a) to g) 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

VIII. Prepare the opinions 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 fraction I of this article, within their competence scope, 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.

Article 25.- The General Directorates for Supervision of Savings and Loan Cooperatives A and B, through their heads, shall exercise the following powers:

I. To carry out the supervision of:
a) Savings and loan cooperative societies with operation levels I to IV; b) The protection fund for savings and loan cooperative societies; c) Regulated multiple-object financial societies, and d) Other natural or legal persons who, without being Entities referred to in this fraction, carry out activities foreseen in the LRASCAP or the LGOAAC, or who are contracted by said Entities to provide services in accordance with the aforementioned laws, and in both cases, are subject to the supervision of the Commission;

II. To exercise the powers set forth in Articles 18, 19, and 20 of this Regulation, with respect to the Entities, Protection Fund, and persons referred to in the preceding fraction;

III. To authorize and, where applicable, 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 by the Commission, with respect to the Entities, Protection Fund, and persons referred to in fraction 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. To issue the opinions that competent authorities request from the Commission, in the administrative procedures for authorization and, where applicable, approval, 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 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;

V. To supervise compliance with the provisions of the LTFCCG with respect to the Entities referred to in subsection a) of fraction I of this article, within the scope of competence of the Commission;

VI. To prepare the rulings or reports regarding 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. To supervise, with respect to the Entities and other persons referred to in subsections a) to 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

VIII. To prepare the rulings or reports regarding authorizations for the operation with novel models of the Entities and other persons referred to in subsections a) to 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 Specialized Authorizations, within the scope of their respective competencies, in accordance with the corresponding internal procedures.

Article 26.- The General Directorate for Supervision of Securities Entities and Intermediaries B, through its head, shall exercise the following powers:

I. To carry out the supervision of:
a) Stock exchanges and exchanges for financial derivative instruments; b) Central securities counterparties, as well as the clearing house for financial derivative instruments; c) Securities depository institutions; d) Securities rating institutions; e) Holding 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 this Regulation; f) Sub-holding 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 this Regulation; g) Brokerage houses, whether or not they have the status of subsidiaries; h) Representation offices of foreign brokerage houses referred to in the LMV; i) Liquidating partners and participating operators of the financial derivative instruments market; j) Price providers; k) Societies 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; l) Self-regulatory organizations of the securities market; m) Other natural or legal persons who, without being Entities referred to in this fraction, carry out activities foreseen in the LMV, 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, and

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

II. To exercise the powers set forth in Articles 18, 19, and 20 of this Regulation, with respect to the Entities, representation offices, and persons referred to in the preceding fraction;

III. To 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 financial derivative instruments market, correspond to be granted by the Commission, with respect to the Entities, representation offices, and persons referred to in fraction 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. To issue the opinions that competent authorities request from the Commission, in the administrative procedures for authorization and, where applicable, approval, that are followed 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 financial derivative instruments market, with respect to the Entities, representation offices, 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;

V. To 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, promotion of securities and provision of investment services, in accordance with the LMV and the LFI;

VI. To 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 novel models, verifying that the terms, conditions, and specifications contained in said authorizations are complied with;

VII. To prepare the rulings 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 financial derivative instruments market, or for the establishment of representation 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. To prepare the rulings or reports regarding authorizations for the operation with novel 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 power referred to in fraction V of this article, when it comes to the distribution of investment funds, shall correspond to the General Directorate for Investment Administration.

The powers referred to in fractions III and IV of this article shall be exercised in coordination with the General Directorate for 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.- The General Directorate for Investment Administration, through its head, shall exercise the following powers:

I. To carry out the supervision of:
a) Investment funds; b) Societies distributing shares of investment funds, whether or not they have the status of subsidiaries; c) Share valuation societies of investment funds; d) Investment fund operating societies, whether or not they have the status of subsidiaries; e) Independent investment advisors and those Investment Advisors whose shareholders, partners, members of the board of directors, executives, agents, 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 institutions, and

f) Other natural or legal persons who, without being Entities referred to in this fraction, carry out activities foreseen in the LFI, 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;

II. To exercise the powers set forth in Articles 18, 19, and 20 of this Regulation, with respect to the Entities and persons referred to in the preceding fraction;

III. To 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 by the Commission, with respect to the Entities and persons referred to in fraction 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. To revoke the authorizations of investment funds in terms of the LFI and the general provisions emanating from it. This power shall be exercised by analyzing and ruling on the operational, economic, financial, and administrative aspects of the acts subject to its competence;

V. To issue the opinions that competent authorities request from the Commission, in the administrative procedures for authorization and, where applicable, approval that are followed 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 power shall be exercised by analyzing and ruling on the operational, economic, financial, and administrative aspects of the acts subject to its competence;

VI. To 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. To supervise, with respect to the natural or legal persons referred to in subsections b), d), e) and f) of fraction I of this article, that carry out securities intermediation activities with the general public, sales and investment administration processes, the provision of investment services, the activity of distributing shares of investment funds, as well as securities portfolio management activities, providing advice and promotion, the internal supervision they carry out 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. To request, in terms of the applicable legal provisions, information from stock exchanges, securities depository institutions, central securities counterparties, and clearing houses of the financial derivative instruments market, in order to verify that securities transactions carried out by the Entities referred to in fraction I of this article comply with the applicable legal provisions;

IX. To 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 novel models, verifying that the terms, conditions, and specifications contained in said authorizations are complied with;

X. To prepare the rulings 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 power shall be exercised by analyzing and ruling on the operational, economic, financial, and administrative aspects of the acts subject to its competence;

XI. To prepare the rulings or reports regarding authorizations for the operation with novel 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. To analyze the information and documentation that Entities and persons referred to in fraction I of this article periodically submit, regarding the activities of securities portfolio administration services making investment decisions on behalf and for the account of third parties and investment advice in securities, analysis and issuance of investment recommendations, to verify compliance with the LIC, the LMV, the LFI, and general provisions emanating from them.

The powers referred to in fractions III, except for the prospectus of information to investor public and its modifications, as well as IV and V of this article shall be exercised in coordination with the General Directorate of Securities Legal Affairs, the General Directorate for 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.- The General Directorate for Securities Legal Affairs, through its head, shall exercise the following powers:

I. To 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 financial derivative instruments market, within its scope of competence;

II. To intervene in the administrative procedures for registration, update, suspension, or cancellation in the National Securities Register and, where applicable, for authorization of public or private offer of securities in terms of the LMV and the general provisions emanating from it. This power shall be exercised by analyzing and ruling on the legality of the acts subject to its competence;

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

IV. To authorize and, where applicable, approve the acts that in accordance with the LFI and the general provisions emanating from it, correspond to be granted by the Commission, exclusively with respect to investment funds, unless it is a matter of the application of special accounting criteria. This power shall be exercised by analyzing and ruling on the legality of the acts subject to its competence, provided that the exercise of this power is not expressly reserved to the Board of Directors;

V. To revoke the authorizations of investment funds in terms of the LFI and the general provisions emanating from it. This power shall be exercised by analyzing and ruling on the legality of the acts subject to its competence;

VI. To authorize agents to operate in the stock exchange and to carry out transactions with the public, in terms of the LMV, LFI, and the general provisions emanating from them;

VII. To draw up the constitutive act of investment funds;

VIII. To request the necessary documentation and information for the exercise of the powers referred to in fractions II, III, IV, V, VI, and VII of this article, in accordance with the applicable legal provisions;

IX. To 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 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 corresponding information and documentation in a periodic, continuous, or permanent manner shall not be established;

X. To propose to the General Directorate of Crimes and Sanctions, the application of sanctions and, where applicable, the imposition of precautionary measures that arise as a result of the corresponding sanctions within the scope of its powers;

XI. To issue certifications of the documents held in its files;

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

XIII. To 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 in this Regulation.

The power referred to in fraction I of this article shall be exercised in coordination with the General Directorate for Supervision of Market Participants' Conduct 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 powers referred to in fractions IV, V, and XII of this article shall be exercised in coordination with the General Directorate for Investment Administration, within the scope of their respective competencies, in accordance with the corresponding internal procedures.

Article 29.- The General Directorate for Issuers, through its head, shall exercise the following powers:

I. To maintain the National Securities Register, issue certifications of the records held therein, as well as modify the registrations found in said Register;

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

III. To authorize the public offer of securities in Mexico, as well as to determine the suspension or cancellation of securities;

IV. To determine the inadmissibility of applications regarding the registration or cancellation of securities in the National Securities Register or, where applicable, public offer thereof, when said applications do not meet the applicable requirements;

V. To approve, where applicable, those securities that may be subject to institutional investment, as well as to leave such approval without effect;

VI. To issue an opinion to the Ministry of Finance and Public Credit on the securities that are considered placed among the investor public;

VII. To authorize the dissemination of information for purposes of promotion, marketing, and advertising regarding securities directed to the general public. Likewise, to order the suspension, cancellation, or rectification of said information;

VIII. Carry out the supervision of:
a) The issuers of securities registered in the National Securities Register, in terms of Article 4, fraction XXX of the LCNBV, and b) The other natural or legal persons hired by the issuers of securities registered in the National Securities Register and who are subject to the supervision of the Commission in terms of the LMV;

IX. Exercise the powers set forth in Articles 18, 19, and 20 of these Regulations, with respect to the issuers and other persons referred to in the preceding fraction;

X. 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 the issuers of securities, 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 within 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 the applicable legal provisions;

XII. Determine whether 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 offer;

XIII. Attend the assemblies referred to in fraction II of the third paragraph of Article 351 of the LMV;

XIV. Propose to 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; and

XV. Register investment funds in the National Securities Register, as well as the other corporate acts of said funds, and

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

The powers 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.- The General Directorate of Market Participant Conduct Supervision, through its head, shall exercise the following powers:

I. Assist 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 regarding the intermediation of securities 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, as well as the activity of distributing shares of investment funds, in accordance with the LMV, LIC, and LFI;

II. Conduct investigative visits to the Entities that carry out the activities referred to in fraction I of this article, for which it may exercise the powers set forth in Articles 18, 19, and 20 of these Regulations, 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 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 within its competence;

IV. Issue the opinions that the competent authorities request from the Commission, in the administrative authorization and, where applicable, approval procedures that are followed 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 power shall be exercised by analyzing and ruling on the operational, economic, financial, and administrative aspects of the acts within its competence;

V. Analyze the information and documentation submitted 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 terms of the applicable legal provisions, information and documentation from stock exchanges, institutions for the deposit of securities, central counterparties for securities, and clearing houses for the market of derivative financial instruments, in order to verify that the securities transactions carried out by the Entities that carry out the activities referred to in fraction I of this article comply with the applicable legal provisions;

VII. Request the appearance of alleged offenders and other persons who may contribute to the proper 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 of derivative financial instruments. Likewise, this power 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 foregoing purposes, it may request and obtain the data, reports, records, minute books, auxiliary records, documents, correspondence, and, in general, the information and documentation it deems necessary with respect to the Entities and persons referred to in the preceding 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 securities and derivative financial instruments markets traded on exchanges, 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 fraction VIII of this article, and

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

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 powers referred to in fractions 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.- The General Directorate of Risk Methodologies and Analysis, through its head, shall exercise the following powers:

I. 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 of 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;

V. 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 power shall be exercised by analyzing and ruling on the operational, economic, financial, and administrative aspects of the acts within its competence;

VII. Supervise the correct application of support agreements or programs for debtors that the Federal Government and the Entities may conclude for this purpose;

VIII. Propose to the General Directorates of Provisions and Regulatory Development the elaboration 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 financial markets, within the scope of its competence.

The power referred to in fraction 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 power referred to in fraction 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 powers referred to in this article, to the Entities subject to its supervision through the general directorates referred to in Article 18 of these Regulations.

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

I. 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 the networks referred to in the LTOSF, Currency Centers, 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 the networks referred to in the LTOSF, Currency Centers, 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 to request the information and documentation it deems necessary during the practice of an inspection visit;

V. Propose the necessary measures so that the Entities, societies authorized to operate with novel models, Investment Advisors, participants in the networks referred to in the LTOSF, Currency Centers, 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 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 users of financial services and of the Entities themselves or subjects and persons referred to in this fraction;

VI. Supervise compliance with what is provided in the LRITF with respect to 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 fraction, it may request from the Entities and other persons referred to in the preceding paragraph the necessary information and documentation, as well as order said Entities and persons to carry out audits to the third parties with whom they exchange data and information through the standardized application programming interfaces in accordance with the LRITF;

VII. Specify the form and terms in which the Entities, societies authorized to operate with novel models, Investment Advisors, participants in the networks referred to in the LTOSF, Currency Centers, 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, auxiliary records, documents, correspondence, and, in general, the information and documentation it deems necessary for the exercise of its supervision powers, within the scope of its competence, 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, participants in the networks referred to in the LTOSF, Currency Centers, Money Transmitters, or Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission, 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;

VIII. Issue the coercive measures provided for in the laws relating to the Mexican financial system to enforce its determinations;

IX. 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 powers;

X. Propose to the General Directorates of Provisions and Regulatory Development the elaboration of regulation applicable to the Entities, societies authorized to operate with novel models, Investment Advisors, and participants in the 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 the networks referred to in the LTOSF, Currency Centers, 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 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 these Regulations.

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 powers referred to in fractions 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 powers referred to in this article, to the Entities, societies authorized to operate with novel models, Investment Advisors, participants in the networks referred to in the LTOSF, Currency Centers, Money Transmitters, and Unregulated Multiple-Object Financial Societies subject to its supervision, directly or through the general directorates referred to in Article 18 of these Regulations.

Article 33.- The General Directorate of Information Security Supervision, through its head, shall exercise the following powers:

I. Supervise and evaluate that the Entities, societies authorized to operate with novel models, Investment Advisors, participants in the networks referred to in the LTOSF, Currency Centers, 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 on 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 the networks referred to in the LTOSF, Currency Centers, Money Transmitters, and Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission, including, in addition, the aspects related 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 conduct of an inspection visit, it may 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-Objective Financial Societies subject to the Commission's supervision, as well as agree with the General Directorate of Information Technology on the measures and mechanisms to preserve the security of the information of the Commission itself;

V. Carry out supervisory 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-Objective Financial Societies subject to the Commission's supervision, when there are indications from which it can be inferred that some conduct may affect the information security of said Entities or subjects, which allegedly contravenes the laws and other applicable legal provisions;

VI. Coordinate with other financial and law enforcement authorities, as well as with 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-Objective Financial Societies subject to the Commission's supervision, the necessary actions to prevent and detect irregular operations related to information security or its users;

VII. Specify the manner 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-Objective Financial Societies subject to the Commission's supervision are obligated to provide it with the data, reports, records, minute books, auxiliary records, documents, correspondence, and in general, the information and documentation it deems necessary for the exercise of its supervisory powers, within its area of competence, including the information and documentation related 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-Objective Financial Societies subject to the Commission's supervision that, under 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;

VIII. Issue the coercive measures provided for in the laws relating to the Mexican financial system to enforce its determinations;

IX. Propose to the General Directorates of Provisions and Regulatory Development, within their area of competence, the drafting 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;

X. Propose to the General Directorate of Crimes and Sanctions the application of sanctions and, where appropriate, the imposition of precautionary measures that, as a result of the corresponding sanctions, are appropriate within the scope of their powers;

XI. Issue the opinions that, on matters of information security, are requested by the competent supervisory general directorates, in the administrative authorization procedures for 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-Objective Financial Societies subject to the Commission's supervision;

XII. Issue certifications of the documents held in its files, and

XIII. 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 I, II, III, V, VII, and VIII of this article shall be exercised in coordination with the supervisory general directorates within the scope of their respective competencies, including the conduct of inspection visits, in accordance with the corresponding internal procedures.

Article 34.- The General Directorate of Analysis and Information, through its head, shall exercise the following powers:

I. Prepare and disseminate financial statistics and analyses regarding the Entities subject to the Commission's supervision.

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

Likewise, it may conduct and disseminate studies and market scenario estimates that allow for the comparability of information, within the scope of its powers;

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

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

III. Conduct, in coordination with the General Directorate of International Affairs, the exchange of information on 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 entered into with international organizations with supervisory and regulatory functions similar to those of this Commission;

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

V. 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-Objective Financial Societies subject to the Commission's supervision send periodically, which serves for the exercise of the power referred to in fraction I of this article.

Likewise, it may publish representative samples of the databases referred to in the preceding paragraph, relating 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-Objective Financial Societies subject to the Commission's supervision, or of segments of the Mexican financial system markets, provided that the corresponding information does not contain reserved or confidential information under the applicable legal provisions;

VI. Develop and implement administration and database exploitation tools for the Commission, to generate in a timely manner the information required for the proper performance of the supervisory and analysis powers regarding the Entities, societies authorized to operate with novel models, Investment Advisors, Federations, Protection Funds, Currency Exchanges, Money Transmitters, and Unregulated Multiple-Objective Financial Societies subject to the Commission's supervision;

VII. 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, and Unregulated Multiple-Objective Financial Societies and other natural or legal persons subject to the Commission's supervision, including representative offices of foreign financial entities, are obligated to provide the Commission with the data, reports, records, minute books, auxiliary records, documents, correspondence, and, in general, the information and documentation it deems necessary for the exercise of its powers, including that which, under 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 corresponding information and documentation in a periodic, continuous, or permanent manner may not be established;

VIII. Issue the coercive measures provided for in the laws relating to the Mexican financial system to enforce its determinations;

IX. Propose to the General Directorate of Crimes and Sanctions the application of sanctions and, where appropriate, the imposition of precautionary measures that, as a result of the corresponding sanctions, are appropriate within the scope of their powers;

X. Propose to the General Directorates of Provisions and Regulatory Development the drafting of regulation applicable to the Entities, societies authorized to operate with novel models, Federations, Protection Funds, Investment Advisors, Currency Exchanges, Money Transmitters, and Unregulated Multiple-Objective Financial Societies subject to the Commission's supervision, within the competence of the Commission itself and without prejudice to the powers that the Ministry of Finance and Public Credit has in matters of issuing provisions of a general nature;

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

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

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 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:

I. Conduct the supervision of:

a) Crowdfunding Financing Institutions;

b) Electronic Payment Funds Institutions;

c) Societies authorized to operate with novel models;

d) Other natural or legal persons who, without being Entities referred to in this fraction, carry out activities provided for in the LRITF or are contracted by said Entities to provide services in accordance with the aforementioned law, and in both cases are subject to the Commission's supervision, and

e) 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 set forth in Articles 18, 19, and 20 of this Regulation, regarding the Entities and persons indicated in the preceding fraction;

III. Authorize and, where appropriate, 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 to 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 the administrative authorization and, where appropriate, approval procedures that follow 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;

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

VI. Prepare the rulings or reports regarding the 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 area 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 its area of 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 on financial matters, within its area of competence, and

X. 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 Commission's supervision, that intend to be carried out by societies authorized to operate with novel models.

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

I. Conduct the supervision of:

a) Credit Information Societies;

b) Other natural or legal persons who, without being Entities, carry out activities provided for in the 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 Commission's supervision;

c) Participants in networks referred to in the LTOSF;

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

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

II. Exercise the powers set forth in Articles 18, 19, and 20 of this Regulation, regarding the Entities, network participants, and other persons referred to in the preceding fraction;

III. Authorize and, where appropriate, 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 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 follow 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;

V. Supervise, regarding the Entities and other persons referred to in subitems 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 subitems a) and c) of fraction I of this article, within its area of competence, which must be approved by the Board of Directors.

The General Directorate of Supervision of Network Participants may make known the result of the exercise of the power referred to in subitem 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:

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

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 under the Commission's competence, for the Entities, Federations, Protection Funds, the securities market, and the 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 relating to the Mexican financial system;

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

V. Authorize the application of special accounting criteria or records to the Entities subject to the Commission's supervision. Likewise, authorize the opening of accounts and subaccounts, to the Entities subject to the Commission's supervision that correspond, in accordance with the applicable legal provisions;

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

VII. Require 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 Commission's supervision;

VIII. Recognize audit norms and procedures 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 Commission's supervision;

IX. Issue certifications of the documents held in its files, and

X. 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 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 its respective competence, 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:

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

II. Act as coordinator and liaison with homologous regulatory and supervisory authorities of other countries and international multilateral organizations to carry out, in accordance with applicable legal provisions, tasks of exchange and dissemination of information, technical assistance and training, which it may provide 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 the competent authorities and other instances of the Federal Government, regarding international financial matters;

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

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

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

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

VIII. Coordinate technical assistance and training visits to the Commission by homologous supervision and regulation bodies of other countries, as well as by international multilateral organizations;

IX. Draft and negotiate the projects of legal instruments 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;

X. Request the review and, if applicable, the registration, before the Ministry of Foreign Relations, of the legal instruments that the Commission intends to conclude with international organizations with regulatory and supervisory functions similar to those of the Commission;

XI. Cooperate with competent authorities in negotiations with international financial organizations regarding loans, credits or donations intended for the fulfillment of the Commission's programs, or when the Commission assumes specific commitments in such operations and follow up on them;

XII. Prepare studies on international matters within its competence, derived from international forums in which the Commission participates;

XIII. Issue certifications of the documents held in its files, and

XIV. Exercise the attributions delegated to it by the President, through a delegatory agreement published in the Official Gazette of the Federation and those otherwise provided for in these Regulations.

The attribution referred to in fraction I of this article shall be exercised in coordination with the general directorates of supervision, according to their respective areas of competence.

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

The attribution 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 attributions:

I. Develop studies and analyses on financial and economic matters, procedures, techniques, best practices and trends, both nationally and internationally, that support the development of regulation and supervision of Entities and other subjects under the Commission's supervision.

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

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

III. Conduct studies on current and sectoral topics that may affect the performance of Entities and other subjects under the Commission's supervision;

IV. Conduct analyses on the economic impact that projects of modification to the regulatory framework of the Mexican financial system may have, as well as the current regulatory framework on Entities and other subjects under the Commission's supervision;

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

VI. Issue certifications of the documents held in its files, and

VII. Exercise the attributions delegated to it by the President, through a delegatory agreement published in the Official Gazette of the Federation and those otherwise provided for in these Regulations.

The attribution 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 their respective competencies, in accordance with corresponding internal procedures, regarding dissemination.

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

I. Carry out measurements and statistics regarding access to financial services at the national level, using the information that Entities, societies authorized to operate with novel models, Currency Exchanges, Money Transmitters and Unregulated Multiple-Objective Financial Societies subject to the Commission's supervision, provide;

II. Develop studies and analyses on access to financial services, both nationally and internationally, in order to foster the sound and balanced development of the Mexican financial system as a whole;

III. Act as a consultative body of the Federal Government on matters related to the sound and balanced development of the Mexican financial system;

IV. Require from Entities, societies authorized to operate with novel models, Federations, Protection Funds and other persons subject to the Commission's supervision, the information and documentation deemed necessary for the adequate development of its attributions. 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;

V. Propose to the General Directorates of Provisions and Regulatory Development the elaboration of regulation on the maintenance and promotion of a sound development of the Mexican financial system;

VI. Carry out 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 files, and

VIII. Exercise the attributions delegated to it by the President, through a delegatory agreement published in the Official Gazette of the Federation and those otherwise provided for in these Regulations.

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

I. 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 these Regulations.

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

II. Investigate those acts of Entities, societies authorized to operate with novel models, Investment Advisors, offices of representation of foreign financial entities, Currency Exchanges, Money Transmitters, Unregulated Multiple-Objective Financial Societies and other natural or legal persons subject to the Commission's supervision, that carry out activities provided for in the laws relative to the Mexican financial system, without having the authorization, concession or registration that the same laws establish, provided there is a presumption to suppose the realization of such conduct, being able to order inspection visits to the alleged responsible parties, gather any information and documentation on the Entities, societies authorized to operate with novel models, Investment Advisors, offices of representation of foreign financial entities, Currency Exchanges, Money Transmitters, Unregulated Multiple-Objective Financial Societies and other natural or legal persons subject to the Commission's supervision referred to in this fraction and order the suspension of operations;

III. Designate and authorize the personnel assigned to it for the purpose of carrying out the inspection visits that must be conducted in accordance with fraction II of this article;

IV. Designate the personnel assigned to it to notify the administrative acts derived from the exercise of its attributions;

V. Authorize the personnel assigned to it to, during the practice of an inspection visit, request the information and documentation they deem necessary;

VI. Request the aid of the public force to carry out the inspection visits referred to in fraction II of this article, to Entities, societies authorized to operate with novel models, Investment Advisors, offices of representation of foreign financial entities, Currency Exchanges, Money Transmitters, Unregulated Multiple-Objective Financial Societies and other natural or legal persons subject to the Commission's supervision, as well as to effectively enforce resolutions of administrative and managerial intervention and other measures provided for in the laws indicated in Article 2 of these Regulations;

VII. Order the suspension of operations, as well as intervene administratively or managerially, as provided in the corresponding laws, in the negotiation, company or establishment of natural or legal persons that carry out activities provided for in the laws relative to the Mexican financial system, without having the authorization, concession or registration that the 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 should be filed with that department, so that proceedings are taken for the crimes referred to in the LRAF, LIC, LRSIC, LGOAAC, LMV, LFI, LACP, LUC, LRASCAP, LRITF and other laws that attribute such competence to the Commission;

IX. Attend to and process 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 crimes provided for in the laws relative to the Mexican financial system;

X. Represent the interests of the Commission, before courts or before any authority that processes proceedings conducted in the form of a trial, including the attribution to articulate and answer positions, within its competence;

XI. Grant a hearing to alleged offenders so that they may state in writing what is convenient for their interest, offer evidence and make arguments. Likewise, impose administrative sanctions for infringements to the laws relative to the Mexican financial system and to general provisions emanating from them, when they have been delegated to it by the Board of Directors in accordance with Articles 12, fraction IV of the LCNBV and 10 of these Regulations;

XII. Dictate the necessary measures so that 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-objective financial societies and other natural or legal persons subject to the Commission's supervision, adjust their activities and operations to the laws applicable to them, to the general provisions derived from them and to commercial, banking and stock market usages or sound practices of financial markets;

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

XIV. Indicate the form and terms in which Entities, societies authorized to operate with novel models, Investment Advisors, Federations, Protection Funds, Currency Exchanges, Money Transmitters, Unregulated Multiple-Objective Financial Societies, participants in networks referred to in the LTOSF and other natural or legal persons subject to the Commission's supervision, including offices of representation of foreign financial entities, are obliged to provide the Commission with data, reports, records, minute books, auxiliary books, 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 may not be established;

XV. Issue certifications of the documents held in its files;

XVI. Provide a legal opinion, when so requested, regarding compliance enforcement prevention and correction programs for Entities subject to the Commission's supervision, aimed at eliminating irregularities and risks when such Entities present imbalances that may affect their liquidity, solvency, financial stability or affect the continuity of their operations;

XVII. Act as a consultative body of the Federal Government on financial matters, within its competence;

XVIII. Disseminate, in accordance with the laws relative 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 carrying out operations in contravention of what is provided in the LGOAAC, the suspension or cancellation of contracts celebrated 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;

XX. Rule on the legal feasibility of exercising the attribution to abstain from sanctioning;

XXI. Communicate to the corresponding authority the sanctions imposed by the Commission, so that the effective collection of fines may be carried out, and

XXII. Exercise the attributions delegated to it by the President, through a delegatory agreement published in the Official Gazette of the Federation and those otherwise provided for in these Regulations.

The General Directorate of Crimes and Sanctions, for the exercise of its attributions, shall 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 attributions referred to in fractions 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 attributions referred to in fractions I, VI and IX to XVIII of this article.

The attribution referred to in fraction XVIII of this article shall be exercised in coordination with the General Directorate of Social Communication, within their respective competencies, in accordance with corresponding internal procedures.

Article 42.- The General Contenciosa Directorate, through its head, shall exercise the following attributions:

I. Represent the interests of the Commission, including those of the Inter-institutional Committee, before courts or before any authority that processes proceedings conducted in the form of a trial, including the attribution to articulate and answer positions, within its competence, as well as to sign contracts, agreements or accords with public organizations, departments and entities of the Federal Public Administration to obtain public information, necessary to comply with its attributions to issue both provisions and statistical information;

II. Participate, jointly with the competent general directorates of supervision, in the liquidation and commercial bankruptcy procedures of Entities, Investment Advisors, Federations, Currency Exchanges and Money Transmitters subject to the Commission's supervision, in accordance with applicable legal provisions;

III. Attend to legal consultations made by the administrative units of the Commission, which must be resolved in civil, administrative or labor matters for the correct functioning of the Commission;

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

V. 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 lawsuits, complaints, grievances or lawsuits are filed against them before the Congress of the Union, judicial authorities, administrative, labor or any other authorities, or when they are required as witnesses, due to the performance of their attributions or when imputations are made against any of the aforementioned public servants. This attribution also includes providing legal assistance to those who have ceased to perform the aforementioned positions, posts or commissions, for acts performed during their management;

VI. Indicate the form and terms in which 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-Objective Financial Societies and other natural or legal persons subject to the Commission's supervision, including offices of representation of foreign financial entities, are obliged to provide the Commission with data, reports, records, minute books, auxiliary books, 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 may not be established;

VII. Issue certifications of the documents held in its files;

VIII. Exercise, within its competence, the attributions indicated in fractions VI and VIII of Article 41 of these Regulations;

IX. Propose to the competent instance the partial or total forgiveness of administrative fines imposed by the Commission;

X. Intervene in administrative conciliation and arbitration procedures, within the scope of the attributions conferred by laws to the Commission;

XI. Summon and process the procedure to revoke the authorization to organize, constitute and operate for Entities and Federations subject to the Commission's supervision, as well as for 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 convenient for their right, offer evidence and make arguments, regarding the causes for revocation or cancellation in which they are located;

XII. Provide a legal opinion, when so requested, regarding observation letters for 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-Objective Financial Societies and other natural or legal persons subject to the Commission's supervision, when the administrative units of the Commission, in the exercise of their inspection and surveillance attributions, detect elements from which facts, acts or omissions that imply probable non-compliance with applicable legal provisions or sound practices of financial markets may derive;

XIII. Attend to 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 requirements that are part of the competence of other administrative units of the Commission and for requests for transparency and access to information that do not correspond to this General Directorate;

XIV. Process the review appeals promoted in accordance with the laws relating to the Mexican financial system, as well as the claims for the patrimonial liability of the State in which acts are attributed to this Commission in accordance with the Federal Law of Patrimonial Liability of the State, and

XV. 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 for in these Regulations.

The General Directorate of Contenciosa, in the exercise of its attributions, 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 attributions referred to in fractions 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 preceding paragraph, the attributions referred to in fractions 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 attribution referred to in fractions IX and XIV of this article, within the scope of its competence.

Article 43.- The General Directorate of Investigation Visits, through its head, shall exercise the following attributions:

I. Be aware of facts or indications of which the Commission has notice, related to natural or legal persons not subject to the Commission's supervision, who presumptively are carrying out operations in contravention of the laws indicated in article 2 of these Regulations;

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 rules applicable to the market for financial derivative instruments, without having the authorization, concession, or registration that the same laws establish, provided there is a presumption to suppose the carrying out of such conduct, being able to order investigation visits to the presumed responsible parties, as well as to obtain any information and documentation on the natural or legal persons referred to in this fraction;

III. Investigate those acts of natural or legal persons who carry out operations in contravention of what is provided in articles 2 and 103 of the LIC, or who act as trustees without being authorized to do so in accordance with the laws relating to the Mexican financial system, being able to order investigation visits to the presumed responsible parties, as well as to obtain any information and documentation on the natural or legal persons referred to in this fraction;

IV. Designate and qualify the personnel assigned to it for the purpose of carrying out the investigation visits that must be conducted in accordance with fractions II and III of this article;

V. Authorize the personnel assigned to it so that, during the practice of an investigation visit, they may 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 Commission's supervision referred to in fractions II and III of this article, in order to obtain the necessary elements for the fulfillment of its attributions;

VII. Summon the natural or legal persons not subject to the Commission's supervision referred to in fractions II and III of this article to make them aware of the possible non-compliance they have incurred with the laws indicated in article 2 of these Regulations;

VIII. Order, with respect to the natural or legal persons not subject to the Commission's supervision referred to in fractions II and III of this article, the suspension of the operations of their negotiations, companies, 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 the aforementioned 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;

X. Request the assistance of the public force in order to carry out investigation visits in accordance with fraction XVI of article 4 of the LCNBV;

XI. Record the appearance of presumed offenders and other persons who may contribute to the proper development of the investigations referred to in fractions 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 attribution to articulate and answer 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

The General Directorate of Investigation Visits, in the exercise of its attributions, will be assisted by the Investigation Visits Coordinations A, B, and C.

The Investigation Visits Coordinations A, B, and C may exercise the attributions contained in fractions II, III, V, VI, X, XI, XII, and XIV of this article.

Article 44.- The General Directorate of Authorizations to the Financial System, through its head, shall exercise the following attributions:

I. Authorize and, where applicable, approve the acts that, in accordance with the LRAF, LRSIC, LIC, LMV, LTOSF, and the general provisions emanating from these laws, correspond to be granted to the Commission. This attribution shall be exercised by analyzing and ruling on the legality of the acts subject to its competence. The provisions of this fraction shall not be applicable regarding 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 applicable, approve the acts that, in accordance with the LFI and the general provisions emanating from this Law, correspond to be granted to the Commission. This attribution shall be exercised by analyzing and ruling on the legality of the acts subject to its competence. The provisions of this fraction shall not be applicable regarding investment funds;

III. Issue the opinions that the competent authorities request from the Commission, in the administrative authorization and, where applicable, approval procedures that are followed in accordance with the LRAF, LRSIC, LIC, LMV, LFI, LTOSF, and the general provisions emanating from these laws. This attribution 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 attributions provided for in fractions I, II, and III of this article, in accordance with the applicable legal provisions;

V. Prepare the rulings and reports relating to authorizations for the organization and other acts related to the operation, functioning, corporate restructuring, or revocation of the Entities referred to in the LRAF, LRSIC, LIC, LMV, LFI, or for the establishment of representation offices of foreign financial entities, within its scope of competence, which must be approved by the Board of Directors. Regarding revocations, this attribution shall only be exercised with respect to those 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 for securities and their modifications;

VII. Issue certifications of the documents held in its files, and

VIII. 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 for in these Regulations.

Article 45.- The General Directorate of Specialized Authorizations, through its head, shall exercise the following attributions:

I. Authorize and, where applicable, approve the acts that, in accordance with the LACP, LGOAAC, LUC, LRASCAP, LRITF, the general provisions emanating from said laws, other laws, and general provisions that so provide, correspond to be granted to the Commission, provided that, in the latter case, such attribution is not expressly assigned to another administrative unit of the Commission. This attribution 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 authorization and, where applicable, approval procedures that are followed in accordance with the LACP, LUC, LGOAAC, LRASCAP, LRITF, and the provisions emanating from said laws. This attribution shall be exercised by analyzing and ruling on the legality of the opinions subject to its competence;

III. Require the documentation and information necessary for the exercise of the attributions provided for in fractions I and II of this article, in accordance with the applicable legal provisions;

IV. Prepare the rulings and reports relating to 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, LUC, LGOAAC, LRITF, and LRASCAP, within its scope of competence, which must be approved by the Board of Directors or the Interinstitutional Committee. Regarding revocations, this attribution shall only be exercised with respect to those carried out at the request of the interested Entity or Federation;

V. Prepare the rulings and reports relating to 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. Regarding revocations, this attribution shall only be exercised with respect to those carried out at the request of the society authorized to operate with novel models or the interested Entity;

VI. Authorize or give an opinion in the administrative procedures provided for in the provisions applicable to the market for financial derivative instruments that correspond to be issued by the Commission, except when it concerns authorizations or opinions regarding the internal regulations of the participants in those markets. This attribution shall be exercised by analyzing and ruling on the legality of the acts subject to its competence;

VII. Give 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 Commission's supervision or to eliminate the irregularities in which these incur, within the scope of competence of the Commission;

VIII. Issue certifications of the documents held in its files, and

IX. 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 for in these Regulations.

Article 46.- The General Directorate of Regulations, through its head, shall exercise the following attributions:

I. Issue, within the scope of competence of the Commission, the general provisions and other regulations that determine the LCNBV, LRAF, LRSIC, LIC, LMV, LFI, LGOAAC, LACP, LUC, LRASCAP, LTOSF, LRITF, other laws, regulations, general provisions issued by other authorities, or other norms in financial matters;

II. Establish criteria of general application in the financial sector regarding the acts and operations that are considered contrary to commercial, banking, and stock exchange usages or sound practices of the financial markets;

III. Exercise the attributions granted to the Commission to give an opinion on the provisions that other financial authorities intend to issue within the scope of their competence, with the exception of matters relating 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 accordance with the laws of the Mexican financial system;

IV. Recommend to the Presidency that the attribution of veto of self-regulation norms be exercised, with respect to the self-regulatory bodies recognized by the Commission, in accordance with the applicable legal provisions;

V. 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 accordance with these Regulations;

VI. Give an opinion in the administrative procedures provided for in the provisions applicable to the market for financial derivative instruments that correspond to be issued by the Commission, exclusively regarding the internal regulations of the participants in that market and the issuance of general provisions. This attribution shall be exercised by analyzing and ruling on the legality of the acts subject to its competence;

VII. Attend to consultations related to the application of the general provisions issued by the Commission based on the LRAF, LRSIC, LIC, LMV, LFI, LGOAAC, LACP, LUC, LRASCAP, LTOSF, 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 attributions of the administrative units of the Commission;

IX. Issue certifications of the documents held in its files, and

X. 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 for in these Regulations.

The attribution 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 exercise the following attributions:

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

II. Coordinate the integration of the draft agendas of 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 the 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 is kept available to its members;

V. Coordinate the preparation of the minutes of the sessions of the Board of Directors and the Interinstitutional Committee, as appropriate, and obtain 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 the members of said government 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;

X. Evaluate and define the attention to the 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 may formulate to the Commission;

XI. Issue a legal opinion on the draft agreements that the Commission intends to celebrate with international organizations or authorities of other countries with regulatory and supervisory functions similar to those of the Commission;

XII. Formulate the draft agreements that the Commission intends to celebrate 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 for the dissemination of the Mexican financial system;

XIII. Issue certifications of the documents held in its files, and

XIV. 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 for in these Regulations.

The attributions 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 Resource Proceeds A, B, and C, through their heads, shall exercise the following attributions:

I. Exercise the attributions indicated in articles 18 and 19 of these Regulations, to verify compliance with the 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 Centers, 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 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 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 indicated in the preceding paragraph, in the terms referred to in articles 18, second-to-last paragraph, and 19, second-to-last paragraph of these Regulations;

II. Conduct ordinary, special, and investigation visits to the Entities, societies authorized to operate with novel models, Investment Advisors, Currency Centers, Money Transmitters, and Unregulated Multiple-Object Financial Societies subject to the Commission's supervision, in order to verify compliance with the legal provisions indicated 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 Centers, 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 attribution;

III. Issue an opinion to the Ministry of Finance and Public Credit, regarding the general provisions 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 attributions that, in accordance with the laws relating to the Mexican financial system and 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 attributions;

V. Attend to consultations related to the application of the 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 general provisions 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 Centers, Money Transmitters, and Unregulated Multiple-Object Financial Societies subject to the Commission's supervision are subject. This is without prejudice to the competence that the Ministry of Finance and Public Credit has in matters of issuing general provisions, as well as regarding their interpretation;

VII. Propose to the General Directorate of Crimes and Sanctions, the suspension of operations of the Currency Centers and Money Transmitters that are carrying out operations in contravention of what is provided in the LGOAAC; the suspension or cancellation of the contracts celebrated with credit institutions, stock brokerage firms, and exchange houses with which they operate, or that they abstain from carrying out new operations with said Entities, in accordance with the LGOAAC;

VIII. Issue certifications of the documents held in its files;

IX. Issue the technical opinion referred to in Articles 86 Bis and 87-P of the LGOAAC, as well as carry out any other acts necessary for such effect;

X. Certify independent external auditors, compliance officers, and other professionals in accordance with what is provided in Article 4, fractions X and X Bis of the LCNBV, being able to carry out any 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 their area of competence, as well as carry out any other acts necessary for the above effects;

XII. Formulate 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 their adequate functioning;

XIV. Propose and, where appropriate, implement management indicators that are necessary to follow up on the processes of the Vice Presidency of Supervision of Preventive Processes;

XV. Act as the liaison between the Vice Presidency of Supervision of Preventive Processes and the General Directorate of Information Technology for the purposes established in fraction IV of Article 50 of these Regulations;

XVI. Share or exchange data, records, documents, and in general, all information obtained in the exercise of their powers with different national and international bodies, departments, and authorities related to the prevention, detection, and combat of crimes typified in Articles 139 Quáter or 400 Bis of the Federal Penal Code, in terms of the applicable legal provisions;

XVII. Cooperate with the Secretariat of Finance and Public Credit and the Federal Public Prosecutor's Office in accordance with what is provided in Article 4, fraction XIX Bis of the LCNBV, in conformity with the collaboration agreements subscribed for this purpose;

XVIII. Send to Entities, societies authorized to operate with novel models, Currency Exchange Centers, Money Transmitters, and unregulated multiple-object financial societies subject to the supervision of the Commission, the list of blocked persons received from the Secretariat of Finance and Public Credit for this purpose, being able to carry out the necessary acts for it, and

XIX. Those others indicated by other legal provisions, as well as resolve matters related to the provisions that confer some attribution to the Commission, within their area of competence and that are not expressly attributed to another administrative unit of the Commission.

To the General Directorate for Prevention of Operations with Resources of Illicit Origin C, in addition to the attributions provided in the preceding paragraph, it will correspond to keep the Public Registry of Currency Exchange Centers and Money Transmitters, as well as register and renew the registry for legal entities that meet the requirements referred to in the LGOAAC to operate as such, and carry out the annotations that must be kept in this Registry in accordance with what is established in the LGOAAC.

The General Directorates for Prevention of Operations with Resources of Illicit Origin A, B, and C, 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, and Investment Advisors subject to the supervision of the Commission, directly or through the general directorates referred to in Article 18 of these Regulations.

The General Directorate for Prevention of Operations with Resources of Illicit Origin A, for the exercise of its attributions, will be assisted by the Coordinations for Prevention of Operations A 1, A 2, A 3, and A 4.

The General Directorate for Prevention of Operations with Resources of Illicit Origin B, for the exercise of its attributions, will be assisted by the Coordinations for Prevention of Operations B 1, B 2, B 3, and B 4.

The General Directorate for Prevention of Operations with Resources of Illicit Origin C, for the exercise of its attributions, will be assisted by the Coordinations for Prevention of Operations, C 1, C 2, and C 3.

The Coordinations for 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 attributions referred to in fractions I, II, VIII, IX, X, and XII of this article, within their area of competence.

Article 49.- To the General Directorate for Attention to Authorities, through its head, the exercise of the following attributions will correspond:

I. Attend the requests for information and documentation, as well as the orders for seizure or unlocking of accounts, transfers, or fund status issued by competent judicial, federal tax, and administrative authorities, relating to operations carried out by clients and users of financial services with the Entities, societies authorized to operate with novel models, Investment Advisors, Federations, Protection Funds, Currency Exchange Centers, Money Transmitters, Unregulated Multiple-Object Financial Societies, and other natural or legal persons subject to the supervision of the Commission, including representative offices of foreign financial entities and, within their area of competence and subject to the applicable legal provisions on financial secrecy, as well as carry out any other acts necessary for the exercise of this attribution. Regarding Currency Exchange Centers, Money Transmitters, and Unregulated Multiple-Object Financial Societies, the exercise of this attribution will be for the effects established in Article 95 Bis of the LGOAAC.

For the exercise of the attribution referred to in the preceding paragraph, it will 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 Exchange Centers, Money Transmitters, Unregulated Multiple-Object Financial Societies, and other natural or legal persons subject to the supervision of the Commission, including representative offices of foreign financial entities, in order to obtain the requested information and documentation directly, prior to a founded and motivated request regarding the same.

For the effects provided in the first paragraph of this fraction, it may celebrate coordination agreements with the Entities, societies authorized to operate with novel models, Investment Advisors, Federations, Protection Funds, Currency Exchange Centers, Money Transmitters, and Unregulated Multiple-Object Financial Societies involved and with the competent authorities, in order to promote that the sending and receipt of respective requests, as well as the corresponding information, be carried out through electronic means, with the purpose of speeding up the process of attending to the respective requirements;

II. Analyze, if applicable, the requests for information and documentation, as well as the orders for seizure or unlocking of accounts, transfers, or fund status referred to in the previous fraction, in order to verify their compliance with the legal requirements for admissibility and, if so, process them;

III. Specify the form, terms, and deadlines in which the Entities, societies authorized to operate with novel models, Investment Advisors, Federations, Protection Funds, Currency Exchange Centers, Money Transmitters, Unregulated Multiple-Object Financial Societies, and other natural or legal persons subject to the supervision of the Commission, including representative offices of foreign financial entities, are obliged to provide to the Commission the data, reports, records, minute books, auxiliaries, documents, correspondence, and in general, the information and documentation subject to the requirement of competent authorities according to fraction I of this article, 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, Federations, Protection Funds, Currency Exchange Centers, Money Transmitters, Unregulated Multiple-Object Financial Societies, offices, and other natural or legal persons referred to in this fraction, as well as carry out any other acts necessary for such effect.

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 cannot be established;

IV. Follow up on matters so that the Entities, societies authorized to operate with novel models, Investment Advisors, Federations, Protection Funds, Currency Exchange Centers, Money Transmitters, Unregulated Multiple-Object Financial Societies, and other natural or legal persons subject to the supervision of the Commission, including representative offices of foreign financial entities, subject to the requirements referred to in fraction I of this article, comply in time and form with what is requested, being able to carry out the necessary acts for the exercise of the foregoing;

V. 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 related to infractions regarding which the attribution to abstain from sanctioning can be exercised, in accordance with the applicable legal provisions;

VII. Issue certifications of the documents contained in its files;

VIII. Those others indicated by other legal provisions, as well as resolve matters related to the provisions that confer some attribution to the Commission, within their area of competence and that are not expressly attributed to another administrative unit of the Commission, and

IX. 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 these Regulations.

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

Article 50.- To the General Directorate of Information Technology, through its head, the exercise of the following attributions will correspond:

I. Plan the computing and communications IT 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 competent instances, the strategies and programs regarding the renewal, acquisition, support, maintenance, and update of the IT infrastructure, standard packages, information services, and methodologies in IT matters;

II. Detail, in terms of the policies and provisions established by competent instances, the technical specifications for the renewal, acquisition, support, maintenance, and update of existing IT infrastructure, including standard software packages, information services, and methodologies in IT matters, as well as verify their 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 competent instances, in coordination with the administrative units of the Commission, the design of the Commission's automated systems; their programming; mechanisms for permanent or periodic maintenance, as well as the corresponding operation documentation and manuals, in addition to their implementation and service;

V. 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 IT matters of the Commission;

VII. Establish, in accordance with the applicable legal provisions, guidelines, norms, and internal procedures in IT security matters, as well as the technological resources related to 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, norms, and internal procedures in IT goods and services matters that must be used by the Commission's personnel;

IX. Issue certifications of the documents contained in its files, and

X. 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 these Regulations.

Article 51.- To the General Directorate of Programming, Budget, and Material Resources, through its head, the exercise of the following attributions will correspond:

I. Elaborate, propose, and disseminate the guidelines, norms, and internal procedures to which the administrative units of the Commission must adhere, regarding 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 expenditure of the Commission, analyze and adjust their content, as well as process their internal authorization and before the Secretariat of Finance and Public Credit;

III. Keep updated the record and budgetary control of income and expenditure, as well as investments of the Commission, and report on their progress and modifications to their hierarchical superiors and to the corresponding authorities;

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

V. 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 fees, rights, as well as carry out the annual calculation of the collection of inspection and surveillance fees and other rights, 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 Exchange Centers, Money Transmitters, and Unregulated Multiple-Object Financial Societies, subject to the supervision of the Commission;

VII. Determine the debts in the payment of rights for authorizations, registrations, inspection, and surveillance that 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 Exchange Centers, Money Transmitters, and Unregulated Multiple-Object Financial Societies subject to the supervision of the Commission must pay in terms of the Federal Rights Law, as well as manage their collection, within their area of competence;

VIII. Review, register, validate, and control financial and budgetary operations in accordance with the provisions issued in accounting and budgetary matters by the corresponding instances, as well as formulate, analyze, and make known to their 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 Secretariat of Finance and Public Credit and other dependencies of the Federal Public Administration regarding the Commission's financial resources;

X. 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 competent instances, 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 attributions granted to the President by the Law on Acquisitions, Leasing, and Services of the Public Sector, the Law on Public Works and Related Services, 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 attribution to act as coordinator of the Commission's internal civil protection program, as well as to exercise the attributions conferred by other applicable legal provisions in these matters, within their area of competence;

XII. Provide and control the correspondence services, centralized archive, maintenance and distribution of spaces, logistical coordination of events, transfer of goods, graphics, and printing, as well as keep control, security, and protection of the movable and immovable property 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 formation, organization, and training of the Commission's personnel in civil protection matters;

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 procedures before the competent instances of the Federal Public Administration, in relation to the provisions in matters of material, financial, and budgetary resources;

XVII. Issue certifications of the documents contained in its files, and

XVIII. 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 these Regulations.

Article 52.- To the General Directorate of Organization and Human Resources, through its head, the exercise of the following attributions will correspond:

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

II. Subscribe and issue photographic credentials for the Commission's public servants; pensioners, beneficiaries, as well as the other credentials that the Commission needs to issue;

III. Coordinate, in terms of the applicable legal provisions, the career service of the Commission, as well as the application of the operating policies of said service, for which it may:
a) Propose training and technical and professional updating programs to achieve a growing level of excellence, and b) Participate in the application of procedures for the occupation of a vacant position, adhering to the applicable legal provisions;

IV. Implement the policies, norms, and procedures for salary administration, as well as control, disseminate, and grant the benefits to which the Commission's personnel are entitled;

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

VI. Propose and disseminate the policies, norms, 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;

X. Plan and structure the courses and events for 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 procedures before the competent instances of the Federal Public Administration, regarding the general working conditions that must be observed between the Commission itself and its personnel, as well as in matters of human resource administration;

XIII. Impose administrative sanctions on the Commission's personnel, in case they contravene the applicable legal provisions deriving from the employment relationship;

XIV. Notify the Commission's personnel of the sanctions imposed by competent authorities, regarding acts or conduct that affect the employment relationship with the Commission itself;

XV. Cooperate in labor proceedings in which the Commission is a party;

XVI. Coordinate the internal communication processes, regarding matters of general interest to the Commission's personnel, within their area of competence;

XVII. Notify, for administrative purposes, the agreements of the Board of Directors, in order to carry out the necessary procedures 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 matters of human resources;

XVIII. Issue certifications of the documents held in its files, and

XIX. 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 these Regulations.

Article 53.- The General Directorate of Strategic Planning, through its head, shall exercise the following powers:

I. Disseminate and make known the norms, policies, and guidelines to which the administrative units of the Commission must adhere, in relation to the internal planning process, and their linkage with the National Development Plan and the National Financing Program for Development;

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;

V. Direct, participate in, and support the administrative units of the Commission in the preparation of procedure manuals and public service manuals, excluding 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, excluding supervision and regulation, as well as reporting the results of its operation;

VII. Direct projects for the improvement of the Commission's processes, other than those related to supervision and regulation;

VIII. Request information and documentation necessary from the administrative units of the Commission for the adequate performance of its powers;

IX. Issue certifications of the documents held in its files, and

X. 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 these Regulations.

Article 54.- The General Directorate of Supervision Methods and Processes, through its head, shall exercise the following powers:

I. 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 competencies are adequate, consistent, and in accordance with the Commission's institutional supervision and regulation strategies;

II. Establish the necessary measures so that the administrative units related to the Commission's supervision processes develop their competencies 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 ensure they are carried out with quality, based on best practices and within the applicable regulatory framework;

IV. Coordinate the homogenization of supervision practices of the Entities, societies authorized to operate with novel models, Investment Advisors, Federations, Protection Funds, representative offices of foreign financial entities, Currency Exchanges, Money Transmitters, and Unregulated Multiple-Object Financial Societies subject to the Commission's competence, as well as promote the use of the manuals, tools, and techniques established for such effect;

V. Prepare, 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 Exchanges, Money Transmitters, and Unregulated Multiple-Object Financial Societies supervised by the Commission, in coordination with the corresponding general directorates of supervision within the scope of their competencies;

VI. Coordinate the preparation and follow-up to the annual program of inspection visits by the competent supervision administrative units of the Commission;

VII. Periodically inform the President about the results of the powers indicated in the previous fractions and the lines of action to be followed related to the Commission's supervision processes;

VIII. Administer and coordinate the update of the Register of Supervised Entities contained on the Commission's website;

IX. Administer and coordinate the update of the register of persons who may carry out the function of auditor-manager of controlling societies or serve as members 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;

X. Issue certifications of the documents held in its files, and

XI. 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 these Regulations.

The power referred to in fraction VIII 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 55.- The General Directorate of Special Projects and Coordination with Authorities of the Financial System, through its head, shall exercise the following powers:

I. Participate in the development of strategic projects derived from the National Financing Program for Development, within the Commission's competence;

II. Organize the administrative units of the Commission that participate in the preparation of special projects under the Commission's charge;

III. Serve as the Commission's liaison 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;

V. Plan and manage with the different financial authorities and participants in the Mexican financial system the preparation and implementation of those measures required to comply with the National Financing Program for Development, regarding topics within the Commission's competence;

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 sectors in relation to studies and analyses of the Mexican financial system;

VIII. Define the general criteria upon 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 Exchanges, Money Transmitters, Unregulated Multiple-Object Financial Societies, and other natural and legal persons subject to the Commission's supervision, which will correspond to each of the Commission's general directorates of supervision to supervise; such designation will be published in the Register of Supervised Entities;

IX. Exercise the Commission's powers when acting as a consultative body of the federal government in matters of planning and development of the Mexican financial system;

X. Issue certifications of the documents held in its files, and

XI. 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 these Regulations.

The power referred to in fraction 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:

I. Supervise the content of informative and news communications 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 Ministry of the Interior and, where applicable, the Ministry 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 of dissemination and public relations in matters of social communication, as well as serve as liaison with the Ministry of Finance and Public Credit to unify criteria related to information and dissemination in matters within the Commission's competence;

V. Conduct relations with the media, as well as organize and supervise interviews and conferences with national and international press related to matters within the Commission's competence;

VI. Follow up on national and international printed and electronic media regarding 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 terms of applicable legal provisions, activities of information exchange in matters of social communication;

VIII. Plan the realization of pre-test studies to know the impact, comprehension, and degree of acceptance that the Commission's social communication campaign proposals may have among the target audience, as well as post-test studies for the evaluation of 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 different administrative units of the Commission and direct the support services in this matter;

X. Promote the institutional image of the Commission;

XI. Design and coordinate the contents of the Commission's website and other applications, based on the information and updates generated by the Commission's administrative units;

XII. Serve as the Commission's liaison with the Ministry of Finance and Public Credit for the attention of matters within the Commission's competence with the Honorable Congress of the Union, as well as with the Ministry 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 the 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 these Regulations.

Third Title
Of the Internal Control Body

Article 57.- The Internal Control Body at the Commission shall be in charge of a head designated in terms of article 37, fraction XII of the Organic Law of the Federal Public Administration, who in the exercise of its 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 Ministry of Public Function.

The public servants referred to in the previous 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 Ministry of Public Function, and other applicable legal orders.

The 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 replaced in accordance with what is provided in the Internal Regulations of the Ministry of Public Function.

The Commission shall provide the Internal Control Body with the assistance required for the performance of its powers. Likewise, without exception and within the applicable legal provisions, the public servants of the Commission are obligated to provide them with the information and documentation required for the fulfillment of 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 Directorate of Contentious Affairs, 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 terms of 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 of Supervision of Preventive Processes, the head of the General Directorate of Contentious Affairs, 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 of Prevention of Operations with Illicit Proceeds A, B, and C, the head of the General Directorate of Attention to Authorities, the heads of the Legal Coordinations of Procedures A, B, and C, and the heads of the Coordinations of 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 these Regulations, 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, Regulating articles 103 and 107 of the Political Constitution of the United Mexican States.

The Board of Directors shall be represented indistinctly in amparo trials by the head of the Legal Vice Presidency, by the head of the General Directorate of Contentious Affairs, by the head of the General Directorate of Crimes and Sanctions, or by the heads of the Legal Coordinations of Procedures A, B, or C. These public servants may designate delegates in amparo trials in accordance with the Amparo Law, Regulating 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 Directorate of Contentious Affairs, by the head of the General Directorate of Crimes and Sanctions, and by the heads of the Legal Coordinations of Procedures A, B, or C. These public servants may designate delegates in amparo trials in accordance with the Amparo Law, Regulating 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 Directorate of Contentious Affairs, by the head of the General Directorate of Crimes and Sanctions, or by the heads of the Legal Coordinations of Procedures A, B, or C. These public servants may designate delegates in amparo trials in accordance with the Amparo Law, Regulating articles 103 and 107 of the Political Constitution of the United Mexican States.

The heads of the Vice Presidencies of Supervision of Groups and Financial Intermediaries A and B, of Supervision of Development Banking and Popular Finance, of Stock Market Supervision, Technical, of Regulatory Policy, Legal, of Normativity, of Supervision of Preventive Processes, and of Administration and Strategic 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 Directorate of Contentious Affairs, by the head of the General Directorate of Crimes and Sanctions, or by the heads of the Legal Coordinations of Procedures A, B, or C. These public servants may designate delegates in amparo trials in accordance with the Amparo Law, Regulating 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 Directorate of Contentious Affairs, by the head of the General Directorate of Crimes and Sanctions, or by the heads of the Legal Coordinations of 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 remaining 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 Technical Vice Presidency, 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 Administration and Strategic Planning, in the order indicated.

Article 61.- The heads of the Vice Presidencies shall be substituted in their absences or due to lack of designation by the heads of the General Directorates attached to them, according to the organic attachment that the Board of Directors determines for this purpose through an agreement published in the Official Gazette 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 that depend 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 that depend on them, in matters within their respective competence.

Likewise, the heads of the Coordinations shall be substituted by the heads of the Area Directorates that depend on them, in matters within their respective competence.

Fifth Title
On the Exercise of Attributions

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 attributions to conduct visits, verification of operations, and audit 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 supervised, comply with the applicable legal and administrative provisions.

The inspection attributions 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 attributions 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 data, reports, records, minute books, auxiliaries, documents, correspondence, and, in general, the information and documentation deemed necessary for the exercise of these attributions, 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 relative to 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 information and documentation requirements.

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 they exercise their attributions in contentious matters, opinions of crime, sanctions, information and documentation requests, investigations, and visits for the compliance 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 organically attached, and within the scope of their competence, shall have the attributions stated in Article 19, fractions III, IV, X, XI, and XII of these Regulations.

The heads of the Vice Presidencies, General Directorates, and Coordinations indicated in the agreement by which the administrative units of the Commission are organically attached, in the administrative acts they sign in the exercise of the attributions conferred by these Regulations, 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 attributions, as well as to perform the necessary activities in the fulfillment of any inspection or visit intended to be carried out. The exercise of the aforementioned attributions in favor of the authorized public servants shall be limited to their performance during the conduct of inspection visits or the fulfillment of administrative proceedings.

Article 64.- The attributions granted by these Regulations 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 these Regulations have expressly granted attributions, 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, except for those regarding the dissemination of information for purposes of promotion, marketing, or advertising on securities, the information prospectus to the investing public and its modifications, as well as approvals for institutional investment in terms of the LMV; registrations; consultations on 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-Objective Financial Societies subject to the supervision of the Commission, Federations, Protection Funds, representative offices 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 the competence of the Commission to issue or celebrate, the respective 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 areas of competence, together with the public servants of the Vice Presidency or 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-Objective Financial Society subject to the supervision of the Commission, Federation, Protection Fund, representative office 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, opinions of crime, and sanctions, which according to these Regulations are the competence of the aforementioned General Directorates Contenciosa or of Crimes and Sanctions, in which case they may exercise them individually. The issuance of general provisions in matters of accounting, external audit, 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 attributions referred to in Articles 48 and 49 of these Regulations.

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 a 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 attributions conferred by these Regulations, require requesting information from international organizations with supervisory and regulatory functions similar to those of the Commission or, in their case, authorities of other countries with similar attributions, must do so in coordination with the General Directorate of International Affairs.

TRANSITORY PROVISIONS

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

SECOND.- The Internal Regulations of the National Banking and Securities Commission published in the Official Gazette 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 these Regulations and that, according to them, must be attended by an administrative unit other than the one that would have corresponded according to the repealed provisions, shall continue their proceedings and be resolved by that or those administrative units to which competence is attributed in this instrument. The personnel, pending files, archives, furniture, and, in general, equipment in 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, shall pass to the new competent administrative unit or units, 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 according to this instrument.

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 Secretariat of Public Function involves budgetary resources, such support shall be carried out in accordance with the criteria determined by the Secretariat of Finance and Public Credit and the Secretariat of Public Function, observing what is provided in the Transitory Fifth Article of the Decree by which various provisions of the Organic Law of the Federal Public Administration are reformed, added, and derogated, published in the Official Gazette of the Federation on November 30, 2018.

Internal Regulations of the National Banking and Securities Commission

INTERNAL REGULATIONS OF THE NATIONAL BANKING AND SECURITIES COMMISSION

INTERNAL REGULATIONS OF THE NATIONAL BANKING AND SECURITIES COMMISSION

Title One

Single Chapter

Title Two

Chapter I

Chapter II

Chapter III

Chapter IV

Chapter V

First Section

Lineage: In force