Regulatory Alerts2022-05-11 | DOF 5651692Added
Office Memo Granting Authorization for the Organization and Operation of an Electronic Payment Funds Institution Named MercadoLibre, S.A. de C.V., Electronic Payment Funds Institution
Authorization is granted for the organization and operation of an Electronic Payment Funds Institution named MercadoLibre, S.A. de C.V., Electronic Payment Funds Institution, based on compliance with the Law to Regulate Financial Technology Institutions. The authorization establishes an initial share capital of 30,000,000.00 Mexican pesos represented by 30,000,000 ordinary shares and sets the corporate domicile in Mexico City with indefinite duration. The institution is subject to supervision by the National Banking and Securities Commission and the Bank of Mexico, and must comply with specific articles of the Financial Technology Law regarding operations and services, as well as anti-money laundering provisions.
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