Regulatory Alerts2020-11-23 | DOF 5605511Added · Updated
Notice revoking authorization for Operadora de Recursos Reforma S.A. de C.V., S.F.P. to operate as a Popular Financial Society
The National Banking and Securities Commission (CNBV) revokes the authorization for Operadora de Recursos Reforma S.A. de C.V., S.F.P. to operate as a Popular Financial Society due to its failure to meet capitalization requirements, specifically a negative NICAP level of -3,564.78% and a capital shortfall of $492,749,465 pesos as of July 31, 2020. The entity is ordered to proceed with its dissolution and liquidation in accordance with the Savings and Popular Credit Law. The CNBV rejected the entity's arguments regarding pending investor commitments and asset seizures as insufficient to validate its continued operation.
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