Regulatory Alerts2023-07-20 | DOF 5696111Added
Office Letter Granting Authorization for the Organization and Operation of an Electronic Payment Funds Institution to Be Named Efectifintech, S.A. de C.V., Electronic Payment Funds Institution
Authorization is granted for the organization and operation of an Electronic Payment Funds Institution to be named Efectifintech, S.A. de C.V., Electronic Payment Funds Institution, with an initial share capital of $5,200,000.00 MXN and indefinite duration. The entity is headquartered in Mexico City and must conduct operations specified in Articles 22 and 25 of the Law for Regulating Financial Technology Institutions, subject to supervision by the National Banking and Securities Commission and the Bank of Mexico. This authorization is non-transferable and requires compliance with all applicable regulations regarding electronic payment funds, including anti-money laundering and counter-terrorist financing provisions.
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