Notice revoking authorization for Helm Bank USA Representation Office in Mexico

DOF: 04/05/2017

OFFICE LETTER through which the revocation of the authorization for the establishment in national territory of Helm Bank USA, Representation Office in Mexico is made known.

At the margin, a seal with the National Coat of Arms, which reads: United Mexican States.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.- Vice Presidency of Normativity.- Vice Presidency of Supervision of Groups and Financial Intermediaries B.- Office No.: 310-14440/2017.-

File: CNBV.312.211.23 (5489).

Subject:

Closure of your Representation Office in

Mexico, as well as revocation of the

authorization for its establishment.

HELM BANK USA

Paseo de los Tamarindo No. 400, Letter B, 7th Floor

Col. Bosque de las Lomas, Del. Cuajimalpa de Morelos

C.P. 05120, Mexico City

TO: MR. HANS PETER GOEBEL CAVIEDES

Representative

We refer to your writing submitted on February 27, 2017, through which you notified this Commission of the definitive closure of Helm Bank USA, Representation Office in Mexico and, consequently, requested the revocation of the corresponding authorization.

BACKGROUND

Through Office UBA/062/2006 dated March 16, 2006, the Ministry of Finance and Public Credit authorized Helm Bank to establish a representation office in national territory, headquartered in Mexico City, under the name Helm Bank, Representation Office in Mexico.

Through Office 312-3/82025/2009 dated September 2, 2009, the National Banking and Securities Commission took note of the modification of the corporate name of the foreign financial entity from "Helm Bank" to "Helm Bank USA".

Through Office 312-3/82026/2009 dated September 2, 2009, the National Banking and Securities Commission communicated to Helm Bank the modification to the terms of authorization for the establishment of its representation office in Mexico, in order to update its name to "Helm Bank USA, Representation Office in Mexico".

Taking into account the background stated above and considering that the request and documentation presented comply with the applicable provisions, this Commission, based on the provisions of the Fifteenth, fraction 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 Helm Bank USA, Representation Office in Mexico.

As a consequence of the foregoing and based on the aforementioned Fifteenth Rule, the members of the Board of Directors of this Commission, in a session held on April 3, 2017, adopted the following:

AGREEMENT

"TWENTY-NINTH.- The members of the Board of Directors, based on Article 12, fraction 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, fraction 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 March 21, 2017, unanimously approved the revocation of the authorization for the establishment in national territory of Helm Bank USA, Representation Office in Mexico, granted by the Ministry of Finance and Public Credit through Office UBA/062/2006 dated March 16, 2006, as a consequence of its closure."

This office letter is issued based on Articles 12, 15, fraction VIII, in relation to 19, fractions I, subsection f), III and last paragraph and 40, fractions I and VII of the Internal Regulations of the National Banking and Securities Commission, published in the Official Gazette of the Federation on November 12, 2014; and 1, fraction VI, 11, fraction I, subsections 1) and 3) and 36, fraction I, subsection 1) of the Agreement by which the President of the National Banking and Securities Commission delegates powers to the Vice Presidents, General Directors and Assistant General Directors of said Commission, published in said Gazette on November 30, 2015.

Respectfully,

Mexico City, April 5, 2017. - The Vice President of Normativity, Arcelia Olea Leyva.-

Signature.- The Vice President of Supervision of Groups and Financial Intermediaries B, Ricardo Medina Álvarez.- Signature.

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