Notice revoking the authorization for the establishment in Mexican territory of Haitong Bank, S.A., Representation Office in Mexico

DOF: 04/06/2018

OFFICE LETTER revoking the authorization for the establishment in national territory of Haitong Bank, S.A., Representation Office in Mexico.

A seal with the National Coat of Arms appears on the margin, which says: 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.- General Directorate of Authorizations to the Financial System.- General Directorate of Supervision of Groups and Financial Intermediaries E.- Office No.: 310-76774/2018.- Exp. CNBV. 312.211.23 (5879).

Subject:

Closure

of its

Representation

Office

in

Mexico,

as well as

revocation

of the

authorization

for its

establishment.

HAITONG

BANK,

S.A.,

Montes Urales 505,

floor 4

Col. Lomas de Chapultepec I

Section

Del.

Miguel Hidalgo

11000,

Mexico City.

Attention:

MR.

HUGO ANTONIO

VILLALOBOS

VELASCO

Representative

We refer to

the writings

presented

on the days

8 and

16 of March 2018,

through which you notified

this

Commission the

definitive closure

of Haitong

Bank, S.A.,

Representation

Office

in

Mexico

and, consequently,

requested the

revocation of the

corresponding authorization.

BACKGROUND

Through office

312-3/33150/2010

dated August 31, 2010,

this Commission

authorized

Banco Espírito

Santo, S.A.

and Banco Espírito

Santo de Investimento,

S.A.,

the establishment

of a joint

representation office,

with the name

Banco Espírito

Santo, S.A.

and Banco Espírito

Santo de Investimento,

S.A.,

Joint Representation

Office

in Mexico.

By office

P-030

dated May 4, 2016,

this Commission

revoked the

authorization for the

establishment in

Mexico of the

representation office

of Banco Espírito

Santo, S.A.,

jointly with Banco

Espirito Santo

de Investimento

S.A.,

having fallen into

the circumstance of

revocation provided

in numeral

2 of the

fraction II of the

Fifteenth

of the Rules,

with the authorization

granted to Banco

Espirito Santo

de Investimento, S.A.

remaining in effect.

Through office

312-3/113842/2016

dated June 8, 2016,

this Commission

took note (i)

of the notice of

acquisition of the

entire share capital

of Banco

Espirito Santo

de Investimento, S.A.,

by Haitong

Securities, Co.

Ltd and (ii)

of the change of

denomination of Banco

Espirito Santo

de Investimento, S.A.

to Haitong

Bank, S.A.

With office

312-3/113843/2016

dated June 8, 2016,

and on account of the

acts described in

numerals 2 and 3

above, this Commission

modified the first

of the bases of

the authorization for the

establishment in

Mexico of the

representation office

in question,

so that its current

denomination became

Haitong Bank, S.A.,

Representation Office

in Mexico.

Taking into account

the background exposed

and considering that

the request and

documentation presented

comply with the

applicable provisions,

this Commission,

based on what is

established in the

Fifteenth,

fraction VI of the

"Rules for

representation offices of

financial entities

from abroad",

published in the

Official Journal of the

Federations on

December 31, 2014,

has resolved to

authorize the

closure of Haitong

Bank, S.A.,

Representation Office

in Mexico.

As a consequence

of the above and

based on the

Fifteenth rule

mentioned above,

the members of the

Board of Directors

of this Commission,

in a session held

on May 14 of the current year,

adopted the following:

AGREEMENT

"FIFTEENTH.- 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

financial entities

from abroad,

taking into consideration

the favorable opinion

issued by the

Authorization Committee

of the National Banking and

Securities Commission

in its session

held on May 7, 2018,

approved unanimously

the revocation of

the authorization for the

establishment in

territory of

Haitong Bank, S.A.,

Representation Office

in Mexico,

granted by the

National Banking and

Securities Commission

through office

312-3/33150/2010

dated August 31, 2010,

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 Journal of the

Federations on

November 12, 2014;

and 1, fraction VI,

11, fraction I,

subsections I) 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

the same Commission,

published in the

said Journal on

November 30, 2015.

Respectfully

Mexico City,

May 21, 2018. - The

Vice President

of Normativity, Arcelia

Olea Leyva.-

Signature.- The Vice President

of Supervision

of Groups and

Financial Intermediaries

B, Marco Antonio

López

Pérez.- Signature.

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