Notice revoking the authorization granted to BATOAMIGO, S.A. de C.V., S.F.P., to operate as a Popular Financial Society

DOF: 12/11/2018

OFFICE LETTER revoking the authorization granted to BATOAMIGO, S

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.- Office No.: P295/2018.- File No.: CNBV.212.421.12(5484) " 2018/Jul/16,2018/Jul/16 " /368/01/.

SUBJECT:

Your authorization to operate as a Popular Financial Society is revoked.

BATOAMIGO, S.A. DE C.V., S.F.P.

Based on the provisions of articles 37, in relation to 96, fraction IV, and 132, all of the Savings and Popular Credit Law (hereinafter LACP) and 16, fractions VI and XVII, of the National Banking and Securities Commission Law (hereinafter LCNBV); in execution of the fourth agreement adopted by the Board of Directors of the National Banking and Securities Commission, in extraordinary session on October 15, 2018, this resolution is issued in accordance with the following:

CONSIDERING

...

FOURTH.

...

Consequently, as the arguments and evidence provided by BATOAMIGO proved insufficient, and in conformity with the reports and data specified in preceding paragraphs, and considering the opinion formulated by FINE, it is concluded that said Society falls under the revocation hypotheses provided in fractions VI and VII of article 37 of the LACP, namely, for having suspended its activities and for not adequately fulfilling the functions for which it was authorized; therefore, its authorization to operate as a Popular Financial Society is revoked.

Based on the foregoing, you are informed that the National Banking and Securities Commission, prior to the agreement of its Board of Directors, taken in its extraordinary session held on October 15, 2018, and with the objective of preserving the stability of the financial system as a whole, safeguarding the interests of the public:

RESOLVES

FIRST. Based on the provisions of articles 37, first paragraph, fractions V, VII, IX, and X, of the Savings and Popular Credit Law, 12, fraction V, of the National Banking and Securities Commission Law; and in accordance with the Fourth Agreement adopted in its extraordinary session held on October 15, 2018, the authorization granted to BATOAMIGO, S.A. de C.V., S.F.P., to operate as a popular financial society, through office letters 134-302395/2005 and 311-405116/2005 of October 24, 2005, is revoked.

SECOND. From the date of notification of this resolution, BATOAMIGO, S.A. de C.V., S.F.P., is unable to conduct operations and will enter a state of dissolution and liquidation, in accordance with the provisions of the penultimate paragraph of article 37 of the Savings and Popular Credit Law.

THIRD. Based on the provisions of articles 37, penultimate paragraph, and 122-Bis of the Savings and Popular Credit Law, as well as 19 of the National Banking and Securities Commission Law, the Savings Protection Committee of the Fund for the Protection of Financial Societies and Protection of their Savers must accredit before this Commission, within a period of 60 business days following the publication of this resolution in the Official Gazette of the Federation, the designation of the corresponding liquidator.

FOURTH. Based on the provisions of the antepenultimate paragraph of article 37 of the Savings and Popular Credit Law, this resolution shall be registered in the corresponding Public Commerce Registry; as well as, this resolution shall be published in the Official Gazette of the Federation and an extract of this office letter, in two newspapers of wide circulation in the geographic area where said Society operated.

Respectfully,

Mexico City, October 19, 2018. - This was provided by the President of the National Banking and Securities Commission and signed in substitution for his absence by the Legal Vice President of the National Banking and Securities Commission, based on the provisions of articles 4, fraction I, section A, fraction II, section A, subsection 7), 12, and 54 of the Internal Regulations of the National Banking and Securities Commission, the Legal Vice President, Edgar Manuel Bonilla del Ángel. - Rubric.

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