Regulatory Alerts2016-09-15 | DOF 5452709Added
Office Order revoking the authorization granted to Alta Servicios Financieros, S.A. de C.V., S.F.P., to operate as a Popular Financial Society
The National Banking and Securities Commission revokes the authorization of Alta Servicios Financieros, S.A. de C.V., S.F.P. (ALTA) to operate as a Popular Financial Society due to its failure to meet capitalization requirements, specifically maintaining a capital index of at least 100% for credit and market risks. As of January 31, 2016, ALTA reported a negative net capital of -$16,390,104 against a risk capital requirement of $3,427,788, resulting in a capitalization index of -478%. The decision mandates the dissolution and liquidation of the entity in accordance with the Savings and Popular Credit Law.
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