Modifying Circular 2/19 of the Single Circular for Insurance and Sureties

DOF: 26/03/2019

Modifying Circular 2/19 of the Single Circular for Insurance and Sureties

(Provisions 32.8.1., 32.8.2.,

32.8.3., 32.8.4., 32.8.5., 32.8.12, 32.9.1., 32.9.3. and 32.9.4.)

The National Commission for Insurance and Sureties, pursuant to the provisions of articles 366, fraction II, 372, fractions VI and XLII, 373 and 381 of the Law of Insurance and Sureties Institutions, and

CONSIDERING

That in accordance with the provisions of articles 91, 92 and 93 of the Law of Insurance and Sureties Institutions and 10, fraction V, of the Regulation of Insurance and Sureties Agents, applicants and insurance and sureties intermediaries must demonstrate to the National Commission for Insurance and Sureties that they have the technical capacity to exercise the intermediation activities referred to in such provisions, through the application of exams before the same Commission or the legal entities designated for such effect.

That the legal entities that the National Commission for Insurance and Sureties may designate for the application of exams to applicants and insurance and sureties intermediaries are established in Chapters 32.8 and 32.9 of the current Single Circular for Insurance and Sureties, such legal entities being the Certification Center and the Exam Application Centers.

That with the aim of simplifying the procedure for the designation of the aforementioned Certification Center, the National Commission for Insurance and Sureties has carried out modifications to various Provisions of Chapters 32.8 and 32.9 of the Single Circular for Insurance and Sureties, to eliminate as a requirement that the Certification Center be constituted as an insurance organization or a surety organization.

That in this sense, the Certification Center is provided with a regulatory framework that contemplates guidelines regarding its functioning and organization that, according to the nature of these, translates into a greater range of action and clarity in its activities.

That in congruence with what is provided in the Single Circular for Insurance and Sureties, the carrying out of activities of the Certification Center is contemplated, for employees and representatives of legal entities that carry out with the public operations for the promotion or sale of insurance products, thereby expanding the public to which its activities are directed.

That in order to comply with Article Fifth of the "Agreement that establishes the guidelines that must be observed by the dependencies and decentralized organisms of the Federal Public Administration, regarding the issuance of general administrative acts to which article 69-H of the Federal Administrative Procedure Law applies", published in the Official Gazette of the Federation on March 8, 2017, the National Commission for Insurance and Sureties will simplify the requirement provided in Provision 32.8.1, fraction I, of the Single Circular for Insurance and Sureties, relating to the obligation to constitute itself as an insurance organization or a surety organization, pursuant to what is provided in articles 114, 115, 116 and 117 of the Law of Insurance and Sureties Institutions and Title 37 of the aforementioned Single Circular, prior favorable opinion of the said Commission to obtain the designation as Certification Center; likewise, it will eliminate the obligation to request the National Commission for Insurance and Sureties to schedule exams, in order for the Certification Center itself to independently manage the scheduling of its evaluations, in terms of what is established in Provision 32.8.4, fraction II, subsection c), second paragraph, of the Single Circular for Insurance and Sureties.

For the aforementioned reasons, this Commission has resolved to issue the following modification to the Single Circular for Insurance and Sureties in the following terms:

MODIFYING CIRCULAR 2/19 OF THE SINGLE CIRCULAR FOR INSURANCE AND SURETIES

(Provisions 32.8.1.,

32.8.2., 32.8.3., 32.8.4., 32.8.5., 32.8.12, 32.9.1., 32.9.3. and 32.9.4.)

SINGLE. - Provisions 32.8.1., 32.8.2., 32.8.3., 32.8.4., 32.8.5., 32.8.12, 32.9.1., 32.9.3.

and 32.9.4. of the Single Circular for Insurance and Sureties are modified, to read as follows:

32.8.1.

...

I.

To constitute itself as a legal entity, establishing within its corporate statutes:

a)

...

b)

...

1)

The design and approval of the process for certifying the technical capacities of

applicants or Individual Physical Agents and Representatives of Moral Person

Agents, as well as employees or representatives of the Legal Entities referred to

in fraction II of article 103, of the LISF, in compliance with what is provided in the

same, the Regulation of Insurance and Sureties Agents, these

Provisions and the other applicable legal, regulatory and

administrative provisions, as well as those acts that are necessary for the

realization of its corporate object;

2)

In its case, the application of exams to accredit the technical capacity of the

applicants or Individual Physical Agents and Representatives of Moral Person

Agents, as well as employees or representatives of the Legal Entities referred to

in fraction II of article 103, of the LISF, in compliance with what is provided in the

same, the Regulation of Insurance and Sureties Agents, these

Provisions and the other applicable legal, regulatory and

administrative provisions, as well as those acts that are necessary for the

realization of its corporate object, and

3)

The obligation to implement measures and standards of confidentiality,

conduct and operation among its counselors, executives, staff and members of

committees and working groups, in order to contribute to the healthy development of the

insurance and surety systems and to the professionalization of the

insurance and sureties intermediaries.

II.

...

a) to c) ...

d)

That the company is subject to the inspection and supervision of the Commission and

that, for the adequate realization of its operations, it will be subject to the LISF, to the

Regulation of Insurance and Sureties Agents, and to these Provisions;

e)

That it cannot have direct or indirect patrimonial link with Institutions, Agents,

intermediaries or with the legal entities referred to in article 102 of the LISF,

nor with institutes, schools or training centers for insurance or

sureties intermediaries, or Exam Application Centers, without it being applicable for this the

relationship they maintain with insurance organizations, surety

organizations or with guild associations of broad representation of Institutions

or of Agents;

f)

What is stated in Provision 32.8.2, as well as the bases for entry and

exclusion of partners, associates or equivalents, and to remove counselors and

executives who cease to satisfy the requirements established in the LISF and in the

present Provisions, or are located in any of the impediments provided in the

referenced Provision 32.8.2, and

g)

That it is the responsibility of the board of directors to issue norms relative to:

i.

The entry, exclusion and separation requirements of its partners.

ii.

The policies and guidelines that the Certification Center must

follow in matters of contracting services, both with the user public and with its

providers and third parties;

iii.

The disclosure to the public of information;

iv.

The policies and guidelines of conduct aimed at ensuring that its counselors,

executives, staff and other persons linked to them by reason of an

employment, position or commission, know and adhere to the applicable regulations, as

well as to the healthy uses and practices in matters of insurance and sureties;

v.

The requirements that accredit the technical quality, honorability and satisfactory credit history

applicable to its executives and staff.

vi.

The procurement of efficiency and transparency in time and form of the

activities related to its corporate object

vii.

The process for the adoption of norms and the internal verification of its

compliance, as well as the communication of said processes to the Commission, for

the supervision of them;

viii.

The disciplinary and corrective measures that will be applied to its counselors,

executives and staff in case of non-compliance, as well as the procedure for

making them effective.

The Commission will have the following powers:

i.

Review the norms issued by the Certification Center.

When the Commission has evidence that such norms affect the

healthy and balanced development of the financial system, in protection of the

interests of the public it may veto these norms, in which case they will not begin their

validity or it will order that they be left without effect.

Such norms include the items and exams generated by the

Certification Center;

ii.

Order the suspension, removal or dismissal of the executives and staff of the

Certification Center, as well as impose a veto of three months up to five years

to perform any activity related to the corporate object of the Center

of Certification, on the aforementioned persons, when they commit

serious or repeated infractions to the LISF and to the general provisions emanating from it, regardless of the economic sanctions

that correspond in accordance with the LISF itself or other laws, and

iii.

Revoke the designation as Certification Center when it commits

serious or repeated infractions to what is provided in the LISF or other laws and in the

general provisions emanating from them.

To proceed in terms of what is provided in the previous items i and ii, the

Commission must hear the Certification Center, through its

legal representative or the alleged infringer, giving notice to the Center

of Certification.

The resolutions referred to in this provision may be appealed before the

Commission within fifteen business days following the date on which they

had been notified. The Commission itself, with agreement of its Board of Directors,

may revoke, modify or confirm the appealed resolution, prior hearing of

the affected party.

III. to V. ...

...

32.8.2.

...

I. to III. ...

IV.

To be a public servant of the Federation, of the Government of Mexico City, of the

states or municipalities, or

V.

To have patrimonial or labor link with Institutions, Agents, intermediaries, with the

legal entities referred to in article 102 of the LISF, nor with institutes, schools or

training centers for insurance or

sureties intermediaries, or with Exam Application Centers, including those persons who had such link

during the year prior to the date of occupying the position. The relationship is excepted that

they maintain with insurance organizations, surety

organizations, or with guild associations of broad representation of Institutions and of Agents, as well as

in the case that an Exam Application Center transforms into a Center

of

Certification.

...

32.8.3.

...

I. and II.

...

III.

The elements and security systems that guarantee the confidentiality of the

information related to the design of the certification process of capacities and, in

its case, of the database containing the items, tests and exams that are

used for the evaluation of the technical capacity of applicants or intermediaries

of

insurance and sureties and employees or representatives of the Legal Entities referred to

in fraction II of article 103, of the LISF, and

IV.

...

32.8.4.

...

I.

...

a)

Define and approve the items and exams that will be used to accredit the

technical capacity of applicants or Individual Physical Agents and Representatives of

Moral Person Agents and employees or representatives of the Legal Entities referred to in fraction II of article 103, of the LISF, being required to adhere in their content to

what is provided in the LISF, the Regulation of Insurance and Sureties Agents, the

present Provisions and the other applicable legal, regulatory and

administrative provisions;

b)

Integrate the tests that make up the exams to practice the evaluation of the

technical capacity referred to in the previous subsection a), through a set of

items reviewed in terms of their syntax, spelling and drafting, as well as in what

relates to their content. Such review must be carried out by a technical committee and

must be carried out on methodological bases and thematic contents relevant for the

integral formation and professionalization of applicants or Individual Physical Agents and

Representatives of Moral Person Agents and employees or representatives of the Legal

Entities referred to in fraction II of article 103, of the LISF.

...

...

The technical committee of the Certification Center will propose, for approval of the governing body of the same, the items and exams that will be used to accredit the

technical capacity of applicants or Individual Physical Agents and Representatives of

Moral Person Agents and employees or representatives of the Legal Entities referred to in fraction II of article 103, of the LISF, for which it will develop the

following functions:

1) to 15) ...

...

c)

Send to the Commission within the first fifteen business days following the closing

of each quarter, the items and exams that it approves to be used in the

evaluation of the technical capacity of applicants or Individual Physical Agents and

Representatives of Moral Person Agents and employees or representatives of the Legal

Entities referred to in fraction II of article 103, of the LISF.

The aforementioned items and exams may be vetoed by the Commission, according to the

subsection i), of fraction II of provision 32.8.1, when there is evidence of

that these may affect the professionalization of applicants or Individual Physical

Agents and Representatives of Moral Person Agents, as well as of employees or

representatives of the Legal Entities referred to in fraction II of article 103 of the

LISF, or in its case, may affect the healthy and balanced development of the financial system,

in protection of the interests of the public, in which case such items and exams

cannot be applied.

The Commission will notify the Certification Center of the resolution of admissibility or veto in

a period not greater than thirty business days following the delivery of the items and

exams, and until such time as the resolution is not available, the items or exams cannot

be applied.

II.

...

a)

Apply the exams in accordance with what is provided in this Title and with

adherence to the database containing the items, tests and exams

approved by the Certification Center and the Commission;

b)

Provide to the examinees, at the time of their registration, a study guide

according to the Authorization Category on which the evaluation will be based, which

will also be available to the general public on the Commission's Website, as well as on

that of the Certification Center;

c)

Deliver to the Commission no later than ten business days following the closing of each

month, a report of the applications that were carried out in the Certification Center.

Additionally, the Certification Center will make available to the Commission

through the necessary systems provided in Provision 32.8.3 fraction II,

the following:

1)

Place, date and time of the applications;

2)

The tests and exam categories practiced;

3)

The full names, the Unique Population Registration Key and Federal

Taxpayer Registry of the registered persons who took the

exams, and

4)

Grade of the tests practiced.

The report will include the exam application events that are requested by the

Exam Application Center.

The Commission has at all times the faculty to verify the application of

exams and items approved by this same.

d)

...

e)

Take the necessary measures to preserve the confidentiality of the database

containing the items, tests and exams for the evaluation of the capacity

technical of applicants or insurance and sureties intermediaries and employees or

representatives of the Legal Entities referred to in fraction II of article 103,

of the LISF, and

f)

...

32.8.5.

The Certification Center must make available to the Commission the items and exams

that it approves to be used in the evaluation of the technical capacity of applicants or

Individual Physical Agents and Representatives of Moral Person Agents and employees or representatives

of the Legal Entities referred to in fraction II of article 103, of the LISF.

The Commission will designate the public official responsible for receiving the items and the

guidelines for the design of exams. In case of change in this designation, it must

be notified, considering the same formalities, within a period of 15 days in advance.

Likewise, the Certification Center must deliver to the Exam Application Centers

through the Commission, through the computer systems it must have, in

accordance with what is provided in fraction II of Provision 32.8.3, the exams with which

said Exam Application Centers carry out the evaluation of the technical capacity

of applicants or Individual Physical Agents and Representatives of Moral Person Agents and

employees or representatives of the Legal Entities referred to in fraction II of article 103,

of the LISF, in accordance with these Provisions.

32.8.12.

In case the Commission has not designated a Certification Center, or that it has not yet

defined and approved the items and exams that will be used to accredit the

technical capacity of applicants or Individual Physical Agents and Representatives of Moral

Person Agents, as well as of employees or representatives of the Legal Entities referred to in

fraction II of article 103 of the LISF, the items and exams determined by the Commission for

this effect will be applied.

32.9.1.

...

I.

...

a)

...

b)

That its object will be limited to the application of exams to accredit the capacity

technical of applicants or Individual Physical Agents and Representatives of Moral

Person Agents, as well as of employees or representatives of the Legal Entities to

whom fraction II of article 103 of the LISF refers, in compliance with what is provided in the

same, the Regulation of Insurance and Sureties Agents, these

Provisions and the other applicable legal, regulatory and administrative

provisions, as well as those acts that are necessary for the realization of its

corporate object;

II. to V. ...

...

32.9.3.

...

I. and II. ...

III.

The elements and security systems that guarantee the confidentiality of the database

that contains the items, tests and exams that are used for the

evaluation of the technical capacity of applicants or intermediaries of insurance and

sureties and employees or representatives of the Legal Entities referred to in fraction II

of article 103, of the LISF, and

IV.

...

32.9.4.

...

I.

Apply the exams in accordance with what is provided in this Title and with adherence to

the database containing the items, tests and exams approved by the

Certification Center and the Commission;

II.

Provide to the examinees, at the time of their registration, a study guide of

accordance with the Authorization Category on which the evaluation will be based, which

will also be available to the general public on the Commission's Website,

as well as on those of the Exam Application Centers;

III.

Communicate to the Commission or the Certifying Center, the bases on which it will carry out each

exam application event, with an advance of at least four business

days, indicating the following:

a) to c) ...

Within a period not exceeding one business day counted from the date of receipt of the

communication, the Commission or the Certification Center may establish modifications to

the bases proposed by the corresponding Exam Application Center, taking

into account the availability of the elements that the Commission must contribute for its

realization.

...

IV.

...

V.

Take the necessary measures to preserve the confidentiality of the database that

contains the items, tests and exams for the evaluation of the technical capacity

of applicants or intermediaries of insurance and sureties and employees or

representatives of the Legal Entities referred to in fraction II of article 103, of the LISF, and

VI.

...

TRANSITORY

FIRST. - This Modifying Circular will enter into force the day after its publication in the

Official Gazette of the Federation.

SECOND. - This Commission, in order to comply with Article Fifth of the "Agreement that establishes the

guidelines that must be observed by the dependencies and decentralized organisms of the

Federal Public Administration, regarding the issuance of general administrative acts to which

article 69-H of the Federal Administrative Procedure Law applies", published in the

Official Gazette of the Federation on March 8, 2017, simplifies the obligation to constitute itself as

insurance organization or surety organization, pursuant to what is provided in articles 114, 115, 116

and

117 of the Law of Insurance and Sureties Institutions and Title 37 of the aforementioned Single Circular, prior

favorable opinion of the said Commission to obtain the designation as Certification Center, in accordance

with what is provided in Provision 32.8.1, fraction I, of the Single Circular for Insurance and Sureties; likewise,

simplifies the obligation to request the National Commission for Insurance and Sureties the scheduling of

exams, in order for the Certification Center itself to independently manage the

scheduling of its evaluations, in terms of what is established in Provision 32.8.4, fraction II,

subsection c), second paragraph, of the Single Circular for Insurance and Sureties.

The foregoing is made known to you, pursuant to articles 366, fraction II, 372, fractions

VI and XLII, 373 and 381 of the Law of Insurance and Sureties Institutions.

Respectfully

Mexico City, March 15, 2019. - The President of the National Commission for Insurance and Sureties,

Ricardo Ernesto Ochoa Rodríguez. - Rubric.

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