Notice of the Definitive Closure of Wells Fargo Bank, National Association, Representation Office in Mexico, and Revocation of Authorization for Its Establishment

DOF: 09/10/2019

OFFICE LETTER notifying the definitive closure of Wells Fargo Bank, National Association, Representation Office in Mexico, as well as the revocation of the authorization for its establishment

At the margin, a seal with the National Coat of Arms, which says: United Mexican States.- GOVERNMENT OF MEXICO.-

TREASURY.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.-

Vice Presidency of Normativity.- General Directorate of Authorizations to the Financial System.-

Vice Presidency of Supervision of Groups and Financial Intermediaries B.- General Directorate of Supervision

of Groups and Financial Intermediaries E.- Office No.: 312-3/70252/2019.- File: CNBV.3S.3.2, 312 (5832).

Subject:

Closure of your Representation Office

in Mexico, as well as revocation of the

authorization for its establishment.

WELLS FARGO BANK, NATIONAL ASSOCIATION

REPRESENTATION OFFICE IN MEXICO

Paseo de las Palmas, No. 405, Office 804, Optima Tower

Col. Lomas de Chapultepec, Miguel Hidalgo

11000 Mexico City

TO THE ATTENTION OF:

MR. WALFER TITO MEJÍA TRIAY

Acting Representative

We refer to the document submitted on July 17 of the current year by Wells Fargo Bank, National Association, through which it notified this Commission of the definitive closure of Wells Fargo Bank,

National

Association, Representation Office in Mexico and, consequently, requested the revocation of

the

corresponding authorization.

As background, it should be noted that the Board of Directors of the National Banking and Securities

Commission, in a session held on February 3, 2010, authorized the establishment of a representation office

in national territory, under the name of Wells Fargo Bank, National Association, Representation

Office in Mexico (Wells Fargo Bank Representation Office). This resolution was notified

through office number 210/12726/2010 issued by the National Banking and Securities Commission on February 5

of 2010.

Attending to the aforementioned background and considering that the request and documentation presented comply

with the applicable provisions, this Commission, based on what is established in the Fifteenth,

section VI of the "Rules for representation offices of foreign financial entities", published in

the Official Gazette of the Federation on December 31, 2014, has resolved to authorize the closure of Wells Fargo

Bank, National Association, Representation Office in Mexico.

On the other hand and based on the aforementioned Fifteenth Rule, the members of the Board

of Directors of this Commission, in a session held on September 23 of this year, adopted

the following:

AGREEMENT

"The members of the Board of Directors, based on article 12, section XV of the Law of the

National Banking and Securities Commission, in relation to article 7 of the Law of Credit Institutions

and the Fifteenth, section VI of the Rules for representation offices of foreign financial entities, taking into consideration the favorable opinion issued by the Authorization Committee of the

National Banking and Securities Commission in its session held on September 13, 2019, approved by

unanimity the revocation of the authorization for the establishment in Mexico of Wells Fargo Bank, National

Association, Representation Office in Mexico, granted by the Board of Directors of the Commission

National Banking and Securities Commission in its session held on February 3, 2010 and notified through office

210/12726/2010 issued by the Commission itself on February 5, 2010, as a consequence of its closure. "

This office letter is issued based on articles 12, 17, section XIV, 19, sections I, subsection f),

III and last paragraph 40, sections I and VII, 55 and 58 of the Internal Regulations of the National Banking and Securities

Commission, published in the Official Gazette of the Federation on November 12, 2014.

Respectfully

Mexico City, September 27, 2019. - The General Director of Authorizations

to the Financial System, Alejandro Daniel

Haro Acosta. - Signature.- The Deputy General Director of Groups and

Financial Intermediaries E1, Sara Vargas

López. - Signature.- The Deputy General Director of Groups

and

Financial Intermediaries E2, José Antonio

Baca Medina. - Signature.

In the document you are viewing, there may be text, characters or objects that are not displayed correctly due to conversion to HTML format, so we recommend always taking the digitized image of the DOF or the PDF file of the edition as a reference. The content, form and scope of the published documents are the strict responsibility of their issuer.

CONSULT

BY DATE

Do

Mo

Tu

We

Th

Fr

Sa

INDICATORS

Exchange Rate and Rates as of 08/28/2026

DOLLAR

16.9712 UDIS

8.808812 TIIE 28 DAYS

6.7559% TIIE 91 DAYS

6.7931% TIIE 182 DAYS

6.8474% TIIE DE FONDEO

6.50%

See more

SURVEYS

Did you like the new look of the Official Gazette of the Federation website?

No

Yes

Official Gazette of the Federation

Río Amazonas No. 62, Col. Cuauhtémoc, C.P. 06500, Mexico City Tel. (55) 5093-3200, where you can access our service menu

Electronic address: dof.gob.mx

113

LEGAL NOTICE | SOME RIGHTS RESERVED © 2026