Notice to Serfin International Bank and Trust regarding the closure of its Representation Office in Mexico and the revocation of its establishment authorization

DOF: 20/07/2016

OFFICIAL LETTER through which Serfin International Bank and Trust is notified of the closure of its Representation Office in Mexico, as well as the revocation of the authorization for its establishment.

A seal with the National Coat of Arms appears at the margin, which reads: United Mexican States.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.- Presidency.- 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.-

Official Letter No.: P047/2016.- File No.: CNBV.312.211.23 (1090).

Subject:

Closure of its Representation Office in

Mexico, as well as revocation of the

authorization for its establishment.

Serfin International Bank and Trust

Pedregal No. 105, Mezzanine

Col. Lomas de Chapultepec, I Section

11000 Mexico City

Attention: Mr. Raúl David Díaz Torres
Representative

We refer to your writings submitted on November 13, 2015, and April 27 of the current year, through which you requested authorization from this Commission for the definitive closure of the representation office of that entity and, consequently, the revocation of the corresponding authorization.

BACKGROUND

1.

Through official letter 102-E-367-DGBM-II-B-c-1688 dated October 24, 1989, the Ministry of Finance and Public Credit (SHCP) authorized Dynaworld Bank & Trust to establish a Representation Office in national territory under the name Dynaworld Bank & Trust, George Town, Grand Cayman, Cayman Islands, I.B. OCC., Representation in Mexico.

2.

Through official letter 102-E-367-DGBM-II-B-c-3188 dated September 28, 1993, the SHCP took note of the change of name of the Representation Office cited in the previous paragraph to Serfin International Bank & Trust, George Town, Grand Cayman, Cayman Islands, I.B. OCC., Representation in Mexico.

3.

Through "Written Resolutions of the sole shareholder of Serfin International Bank & Trust" dated July 1, 2015, the definitive closure of its Representation Office in Mexico was resolved, effective as of December 31, 2015.

In light of the aforementioned background 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 Journal of the Federation on December 31, 2014, has resolved to authorize the closure of the Representation Office in Mexico of Serfin International Bank & Trust.

As a consequence of the above and based on the aforementioned Rule, the members of the Board of Directors of this Commission, in a session held on June 27 of the current year, adopted the following:

AGREEMENTS

" TWENTY-SECOND .- 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 Credit Institutions Law and the Fifteenth, fraction VI of the Rules for representation offices of foreign financial entities, took note of the closure of the office named "Serfin International Bank & Trust, George Town, Grand Cayman, Cayman Islands, I.B. OCC., Representation in Mexico".

TWENTY-THIRD .- 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 Credit Institutions Law and the Fifteenth, fraction VI of the Rules for representation offices of foreign financial entities, taking into consideration the favorable opinion of the Authorization Committee of the National Banking and Securities Commission, issued in its session held on June 20, 2016, unanimously approved the revocation of the authorization granted by the Ministry of Finance and Public Credit to Dynaworld Bank & Trust currently Serfin International Bank & Trust, through official letter 102-E-367-DGBM-II-B-c-1688 dated October 24, 1989, to establish in Mexico the representation office named "Serfin International Bank & Trust, George Town, Grand Cayman, Cayman Islands, I.B. OCC., Representation in Mexico". The foregoing, effective from the date this agreement takes effect. "

The foregoing is communicated based on Articles 16, fractions I and VI of the Law of the National Banking and Securities Commission and 9, 12 and 13 of the Internal Regulations of the National Banking and Securities Commission, published in the Official Journal of the Federation on November 12, 2014.

Respectfully,

Mexico City, June 30, 2016. - The President, Jaime González Aguadé.- Signature.

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