Office Order revoking the authorization granted to Casa de Cambio Tiber, S.A. de C.V. to operate as a currency exchange

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DOF: 21/11/2018

OFFICE ORDER revoking the authorization granted to Casa de Cambio Tiber, S.A. de C.V. to operate as a currency exchange.

At the margin, a seal with the National Coat of Arms, which reads: United Mexican States.- Ministry of Finance and Public Credit.- Secretary.- Office No. 100.- 64

Legal Representative of

Casa de Cambio Tiber, S.A. de C.V.

JOSÉ ANTONIO GONZÁLEZ ANAYA, Secretary of Finance and Public Credit, based on the provisions of Articles 31, fractions VIII and XXXIV of the Organic Law of the Federal Public Administration; 63 and 87, fraction II, of the General Law of Organizations and Auxiliary Credit Activities (LGOAAC); valid until before the entry into force of the "Decree reforming, adding and repealing various provisions in financial matters and issuing the Law to Regulate Financial Groups" published in the Official Gazette of the Federation on January 10, 2014, and which are applicable in terms of fraction I of the Thirtieth Transitory Provisions relative to the modifications referred to in Articles Twenty-Eighth and Twenty-Ninth of said Decree, and 82 and 87, fractions II and V, both of the current LGOAAC, and in exercise of the powers conferred by Article 6, fraction XXII of the Internal Regulations of the Ministry of Finance and Public Credit, in attention to the following:

BACKGROUND

Through office 102-E-366-DGSV-II-B-c-0451 dated January 27, 1986, this Ministry of Finance and Public Credit (SHCP), through the then General Directorate of Insurance and Securities, authorized that "Casa de Cambio Tiber, S.A. de C.V.", in accordance with the provisions of Article 81 and other applicable provisions of the LGOAAC, operate as a currency exchange. The aforementioned authorization was last modified by office UBVA/041/2012 dated May 31, 2012, published in the Official Gazette of the Federation on July 11, 2012.

"Casa de Cambio Tiber, S.A. de C.V." was constituted through Public Deed No. 27,722 dated November 8, 1984, granted before the notary of Lic. Javier Correa Field, Public Notary No. 95 of the Federal District, registered in the Public Registry of Commerce of this City, under commercial folio No. 81,610.

Through office 131/10010/2015 dated January 13, 2015, the National Banking and Securities Commission (CNBV), through the General Directorate of Supervision of Financial Groups and Intermediaries F and the General Directorate of Litigation, informed this Ministry that "Casa de Cambio Tiber, S.A. de C.V." infringed the provisions of Article Third, in relation to the First, fraction II of the "Resolution determining the minimum capitals that general deposit warehouses, financial leasing companies, factoring companies and currency exchanges must have for the year 2013" (hereinafter identified as the "Resolution 2013"), as transcribed below:

"... In exercise of said powers and based on what is provided in Article 63, first paragraph, of the General Law of Organizations and Auxiliary Credit Activities, this Decentralized Body granted Casa de Cambio Tiber, S.A. de C.V., through Office No. 131/110768/2014 of June 18, 2014, a copy of which is attached for prompt reference, a term of 60 natural days to integrate the capital in the amount necessary for its book capital to amount to at least $42,202,802.29.

This is because the book capital of said Currency Exchange amounted to $32,128,599.00 as of April 30, 2014, and therefore is lower by $10,074,203.29 than the minimum paid capital it is required to maintain for the amount of $42,202,802.29, in accordance with the provisions of Article Third, in relation to the First, fraction II, both of the Resolution determining the minimum capitals that general deposit warehouses, financial leasing companies, factoring companies and currency exchanges must have for the year 2013, published in the Official Gazette of the Federation on March 29, 2013 (the Resolution), valid on the date of the non-compliance indicated.

In response to the aforementioned Office No. 131/110768/2014, the Currency Exchange through the document received in this Commission on August 27, stated the following:

"That, given that in the financial statements of 'Tiber', with figures as of April 30, 2014, this Honorable Authority observed that the book capital was lower than the minimum paid capital by an amount of $10,074 thousand (sic), which we are required to maintain, I state that in order to comply with the provisions of the last paragraph of Article 82 of the General Law of Organizations and Auxiliary Credit Activities, contributions were made for $14,683,648.71 (FOURTEEN MILLION SIX HUNDRED EIGHTY-THREE THOUSAND SIX HUNDRED FORTY-EIGHT PESOS 71/100 M.N.), to remedy the capital insufficiency with figures as of July 31, 2014, which is accredited in terms of the receipts I attach to the present document as 'UNIQUE ANNEX.'

I do not omit to note that the corresponding legal procedures are being carried out in order to hold the Shareholders' Assembly of 'Tiber' and legally formalize the capital contributions for $16,300,872.00 (SIXTEEN MILLION THREE HUNDRED THOUSAND EIGHT HUNDRED SEVENTY-TWO PESOS 00/100 M.N.), of which $1,617,223.29 (ONE MILLION SIX HUNDRED SEVENTEEN THOUSAND TWO HUNDRED TWENTY-TWO 29/100 M.N.) were contributed on May 5, 2014 and $14,683,648.71 (FOURTEEN MILLION SIX HUNDRED EIGHTY-THREE THOUSAND SIX HUNDRED FORTY-EIGHT PESOS 71/100 M.N.) were contributed on August 25, 2014, a fact that will be reported to this Honorable Authority, in due course."

Regarding this, we communicate to that Ministry that the financial situation of the currency exchange has not been remedied, as its book capital continues to present an amount lower than the minimum capital required in accordance with the Resolution, having a balance of $37,009,347.00 and $35,515,995.00 according to its figures for October and November 2014, respectively, presented to this Commission in printed form on November 28, 2014 and January 7, 2015 and electronically through the Interinstitutional Information Transfer System (SITI) through the regulatory report B-1321 Balance Sheet on November 27 and December 30, 2014, in that same order, as indicated in the following table:

Concept	Figures oct-14	Figures nov-14
Book capital	$37,009,347.00	$35,515,995.00
Resolution determining minimum capitals for the year 2013, published in the DOF on March 29, 2013	$42,202,802.29	$42,202,802.29
Amount lower than minimum paid capital	$5,193,455.29	$6,686,807.29

It should be noted that, at the close of the aforementioned month of October 2014, the capital contributions referred to by the Entity were registered accounting-wise in Fixed Social Capital without that Society having exhibited the documentation proving that it had carried out the legal procedures to formalize the corresponding statutory modifications before that Department.

For the foregoing, the Currency Exchange departs from what is provided in Article Third, in relation to the First, fraction II, both of the Resolution, thereby placing itself in the cause for revocation provided in fraction II of Article 87 of the aforementioned Law, which is communicated to that Department for the effects it deems appropriate..."

In accordance with what was manifested by the CNBV, the behaviors described above contravene the provisions of Article 87, fraction II of the LGOAAC.

Through a document dated July 1, 2016, "Casa de Cambio Tiber, S.A. de C.V." submitted to the consideration of this Ministry the General Shareholders' Meetings held by that Society on September 12, 2014, January 29, April 7, May 21, 22 and 25, all of 2015, attaching simple copies of the respective minutes, in order to regularize its financial situation, therefore requesting authorization from this Department to carry out the following legal acts:

·

The modification of clause sixth of the bylaws of that Currency Exchange, derived from the increase of its fixed social capital by the amount of $16,299,000.00 (Sixteen million two hundred ninety-nine thousand pesos 00/100 M.N.), to remain at the amount of $58,599,000.00 (Fifty-eight million five hundred ninety-nine thousand pesos 00/100 M.N.), coming from contributions made prior to the account of future increases in capital by shareholders Carlos Djemal Nehmad, Olga Cassab Amkie and Margot Djemal Nehmad, for an amount of $5,433,000.00 (Five million four hundred thirty-three thousand pesos 00/100 M.N.) each.

·

The share increase of Carlos Djemal Nehmad, Olga Cassab Amkie and Margot Djemal Nehmad up to 19.99% each, of the shares representing the social capital of "Casa de Cambio Tiber, S.A. de C.V.", derived from the aforementioned contributions, as well as as the share transmissions that took place in terms of the Extraordinary General Shareholders' Meeting held on May 25, 2015.

Through office UBVA/DGABV/536/2016 dated July 4, 2016, this Department, in exercise of the powers conferred by Article 28, fraction XXII of its Internal Regulations and based on Article 8, fraction IV of the LGOAAC, valid from January 11, 2014, requested the opinion of the CNBV regarding the authorization for the share increase indicated in the previous Background item.

In response, the CNBV through office 311-112487/2016 dated November 1, 2016:

"Finally, by this means, I reiterate what was manifested to that Ministry in office number 131/10010/2015 dated January 13, 2015, through which the situation of Tiber was informed, for the purposes of the revocation of its authorization to operate as a currency exchange, in that as of the date it continues to not maintain the minimum capital provided for in the LGOAAC, failing to comply with what is provided in Article 87, fraction II of said Law.

In addition to what is stated in the previous paragraph and for the effects that correspond regarding the aforementioned revocation, we make known to you that in accordance with the information available to this Commission, since February 2015 and until the date, Tiber has ceased to carry out, in a habitual and professional manner, operations of purchase, sale and exchange of foreign currency with the public, which updates the cause for revocation in the terms of Article 87, fraction V of the LGOAAC..."

In accordance with what was manifested by the CNBV, the behaviors described above contravene the provisions of Article 87, fractions II and V of the LGOAAC.

This SHCP, through office number UBVA/DGABV/300/2017 dated May 10, 2017, based on the provisions of Articles 31, fractions VIII and XXXIV of the Organic Law of the Federal Public Administration; 63 and 87, fraction II, both of the LGOAAC valid until before the entry into force of the "Decree reforming, adding and repealing various provisions in financial matters and issuing the Law to Regulate Financial Groups" published in the Official Gazette of the Federation on January 10, 2014 (Decree of January 10, 2014), and 82 and 87, fractions II and V, both of the current LGOAAC; in exercise of the powers to resolve matters related to auxiliary credit activities such as currency exchanges, conferred by Article 28, fraction XXII, in relation to fraction I of the same numeral, of the Internal Regulations of the Ministry of Finance and Public Credit, personally notified on October 17, 2017, as evidenced by the receipt acknowledgment, in accordance with Articles 101 Bis 3, fraction I subsection b) and 101 Bis 7 of the LGOAAC, made known to "Casa de Cambio Tiber, S.A. de C.V." the start of the revocation procedure of the authorization cited in Background 1 of this office, in that said Currency Exchange placed itself in the causes for revocation provided in fractions II and V of Article 87 of the LGOAAC.

In the referenced office UBVA/DGABV/300/2017, the irregularities incurred by "Casa de Cambio Tiber, S.A. de C.V." detected by the CNBV, which were made known by said Commission to this SHCP through the aforementioned office 131/10010/2015 dated January 13, 2017, are detailed, which were indicated in Background 3, and which are considered reproduced as if inserted verbatim.

Likewise, in the aforementioned office UBVA/DGABV/300/2017, it is described that the CNBV through office 311-112487/2016 dated November 1, 2016, reiterated what was manifested to this Ministry regarding the situation of that Currency Exchange, as mentioned in the previous Background, which is considered reproduced as if inserted verbatim.

In addition to the foregoing, this Ministry pointed out in the aforementioned office number UBVA/DGABV/300/2017 that:

"14. That in accordance with fraction III of Article 82 of the LGOAAC valid from January 11, 2014, currency exchanges must have a minimum subscribed and paid capital of 8,657,000 investment units, which must be fully subscribed and paid by the last business day of the year in question. It also establishes that its book capital must in no moment be lower than the minimum capital.

In this sense, Article 82 of the LGOAAC provides:

"Article 82. Only those anonymous societies organized in accordance with the provisions of the General Law of Commercial Societies that meet the following requirements, which will be called currency exchanges, will enjoy the authorization referred to in Article 81 of this Law:

...

III. Currency exchanges must have a minimum subscribed and paid capital without right of withdrawal, equivalent in national currency to 8,657,000 investment units, which must be fully subscribed and paid by the last business day of the year in question. For these purposes, the value of the investment units corresponding to December 31 of the immediately preceding year will be considered.

...

In the case of variable capital societies, the minimum capital will be integrated by shares without right of withdrawal, representing the fixed portion of the social capital. The amount of capital with right of withdrawal, in no case, may be higher than the paid capital without right of withdrawal. Likewise, the book capital must in no moment be lower than the minimum capital referred to in this article."

15. That derived from the Consideration preceding, from January 1, 2017, "Casa de Cambio Tiber, S.A. de C.V." must have a minimum capital of $46,584,831.98 (FORTY-SIX MILLION FIVE HUNDRED EIGHTY-FOUR THOUSAND EIGHT HUNDRED THIRTY-ONE PESOS 98/100 M.N.), taking into consideration the value of the investment units on December 31, 2015, and its book capital must not be lower than this amount.

Notwithstanding the foregoing, from the General Balance Sheet with Subsidiaries R12A 1219 that "Casa de Cambio Tiber, S.A. de C.V." sends monthly to the National Banking and Securities Commission, it is evident that said Currency Exchange does not comply with said capitals."

In the cited summons office in the previous Background, a term of eight business days counted from the day following that in which the notification took effect was granted, for that Currency Exchange to expose what was convenient for its right, provide the evidence it had and formulate arguments, regarding the fact that there are elements to presume that said Society places itself in the causes for revocation provided in Article 87 fractions II and V of the LGOAAC, in accordance with what is stated in the aforementioned office, with the understanding that if that right of audience is not exercised in time and form, the procedure will continue and a resolution will be made with the elements in the respective file.

"Casa de Cambio Tiber, S.A. de C.V.", at no time exposed what was convenient for its right, provided any evidence, nor formulated arguments, therefore the warning contained in the office UBVA/DGABV/300/2017 cited became effective, in the sense of continuing with the procedure and resolving with the elements in the file.

Through offices UBVA/DGABV/816/2017 and UBVA/DGABV/817/2017 both dated November 6, 2017, this SHCP requested the opinion of the Bank of Mexico and the CNBV to proceed with the revocation of the authorization granted to "Casa de Cambio Tiber, S.A. de C.V." to operate as a currency exchange, contained in office 102-E-366-DGSV-II-B-c-0451 dated January 27, 1986.

This is in that "Casa de Cambio Tiber, S.A. de C.V." has placed itself in the causes for revocation provided in fractions II and V of Article 87 of the LGOAAC, derived from its book capital being lower than the required minimum capital and for not performing the functions, nor carrying out the operations for which it was authorized.

The CNBV, through office 212/61950/2017 dated November 22, 2017 and received in this Department on November 24, 2017, and since the Society did not exercise its right of audience in accordance with office UBVA/DGABV/300/2017, reiterated what was manifested in offices 131/10010/2015 and 311/112487/2016 previously referred to.

The Bank of Mexico through office OFI002-1802026 received in this Department on February 12, 2018, expressed its favorable opinion for this Ministry to revoke the authorization granted to "Casa de Cambio Tiber, S.A. de C.V." to operate as a currency exchange, subject to the condition that at all times the rights of its creditors and the general public remain protected.

CONSIDERING

That this Ministry is competent to know and resolve on the revocation procedure for the authorization for the performance of the activities indicated in Chapter I of Title Fifth of the General Law of Organizations and Auxiliary Credit Activities, in accordance with the provisions of Articles 31, fractions VIII and XXXIV of the Organic Law of the Federal Public Administration, 1st and 87, fractions II and V of the General Law of Organizations and Auxiliary Credit Activities and 6th fraction XXII of the Internal Regulations of the Ministry of Finance and Public Credit.

That the CNBV through office 131/10010/2015 dated January 13, 2015, informed this Department of the situation of "Casa de Cambio Tiber, S.A. de C.V.", as detailed below:

a)

That by Office No. 131/110768/2014 dated June 18, 2014, that CNBV in exercise of its powers and based on what is provided in Article 63, first paragraph, of the General Law of Organizations and Auxiliary Credit Activities, granted "Casa de Cambio Tiber, S.A. de C.V.", a term of 60 natural days to integrate the capital in the amount necessary for its book capital to amount to at least $42,202,802.29.

This is because the book capital of said Currency Exchange amounted to $32,128,599.00 as of April 30, 2014, and therefore was lower by $10,074,203.29 than the minimum paid capital it was required to maintain for the amount of $42,202,802.29, in accordance with the provisions of Article Third, in relation to the First, fraction II, both of Resolution 2013.

b)

That in response to the aforementioned Office No. 131/110768/2014, through a document received by the CNBV on August 27, 2014, "Casa de Cambio Tiber, S.A. de C.V.", stated that it was carrying out the corresponding legal procedures in order to legally formalize the capital contributions, for $16,300,872.00 (SIXTEEN MILLION THREE HUNDRED THOUSAND EIGHT HUNDRED SEVENTY-TWO PESOS 00/100 M.N.), of which $1,617,223.29 (ONE MILLION SIX HUNDRED SEVENTEEN THOUSAND TWO HUNDRED TWENTY-TWO 29/100 M.N.) were contributed on May 5, 2014 and $14,683,648.71 (FOURTEEN MILLION SIX HUNDRED EIGHTY-THREE THOUSAND SIX HUNDRED FORTY-EIGHT PESOS 71/100 M.N.) paid on August 25, 2014.

c)

Notwithstanding the foregoing, through the aforementioned office 131/10010/2015 the CNBV communicated to this Ministry that the financial situation of said Currency Exchange had not been remedied, as its book capital continued to present an amount lower than the minimum capital required in accordance with Resolution 2013, having a balance of $37,009,347.00 and $35,515,995.00 according to its figures for October and November 2014, respectively, presented to said Commission in printed form on November 28, 2014 and January 7, 2015, respectively, electronically through the Interinstitutional Information Transfer System (SITI) through the regulatory report B-1321 Balance Sheet on November 27 and December 30, 2014, in that same order, as indicated in the following table:

Concept	Figures oct-14	Figures nov-14
Book capital	$37,009,347.00	$35,515,995.00
Resolution determining minimum capitals for the year 2013, published in the DOF on March 29, 2013	$42,202,802.29	$42,202,802.29
Amount lower than minimum paid capital	$5,193,455.29	$6,686,807.29

d)

Likewise, the CNBV informed this Ministry that at the close of the aforementioned month of October 2014, the capital contributions referred to by the Society were registered accounting-wise in its fixed social capital without the documentation having been exhibited before this Department proving that it had carried out the legal procedures to formalize the corresponding statutory modifications.

e)

Based on the foregoing, the CNBV in the office 131/10010/2015 referred to, pointed out to this Department that the Currency Exchange departs from what is provided in Article Third, in relation to the First, fraction II, both of Resolution 2013, thereby placing itself in the cause for revocation provided in fraction II of Article 87 of the LGOAAC, which it communicates to this Department for the effects it deems appropriate.

That by different 311-112487/2016 dated November 1, 2016, the CNBV reiterated what was manifested to this Ministry in office number 131/10010/2015 dated January 13, 2015, through which the situation of "Casa de Cambio Tiber, S.A. de C.V." was informed, for the purposes of the revocation of its authorization to operate as a currency exchange, in that as of that date it continued to not maintain the minimum capital provided for in the LGOAAC.

Likewise, through the aforementioned office, the CNBV made known to this Department that in accordance with the information available to said Commission, since February 2015 and

until the date of the aforementioned official notice, "Casa de Cambio Tiber, S.A. de C.V." had ceased to carry out, in a habitual and professional manner, operations of purchase, sale, and exchange of foreign currency with the public.

Based on what was stated, the CNBV informed this Department that the Currency Exchange fell under the grounds for revocation of authorization provided for in fractions II and V of Article 87 of the LGOAAC.

That Article 8, fraction I of the LGOAAC, in force prior to the entry into force of the "Decree reforming, adding, and repealing various provisions in financial matters and issuing the Law to Regulate Financial Aggregations" published in the Official Gazette of the Federation on January 10, 2014 (Decree of January 10, 2014), provides that to remain in operation, currency exchanges that hold authorization to operate as such must at all times comply with the minimum subscribed and paid-in capital determined by this Secretariat during the first quarter of each year, and have accounting capital that in no instance is lower than said amount of minimum paid-in capital.

In this regard, the aforementioned Article 8, fraction I, first and last paragraphs, of the LGOAAC, in force prior to the entry into force of the Decree of January 10, 2014, stipulates the following:

" Article 8.- Societies authorized to operate as auxiliary credit organizations and currency exchanges must be constituted as anonymous societies, organized in accordance with the General Law of Commercial Societies and the following provisions which are of special application:

I. The Ministry of Finance and Public Credit, hearing the opinion of the National Banking and Securities Commission and the Bank of Mexico, will determine during the first quarter of each year, the minimum capitals necessary to constitute new general warehouses, financial lessors, financial factoring companies, and currency exchanges as well as to maintain in operation those already authorized for which it will take into account the type and, if applicable, class of the auxiliary credit organizations and currency exchanges as well as the economic circumstances of each of them and the country in general, necessarily considering the increase in the level of the National Consumer Price Index that, if applicable, occurs during the immediate preceding year. (Emphasis Added)

...

The accounting capital in no instance shall be lower than the minimum paid ... "

That in compliance with the aforementioned Article 8, fraction I of the LGOAAC, this Secretariat published on March 29, 2013, in the Official Gazette of the Federation, Resolution 2013, which aims to fix the minimum capital amounts required for currency exchanges to operate with such status, in protection of the public and to promote the sound and balanced development of the Mexican financial system.

That pursuant to Article First, fraction II of Resolution 2013, "Casa de Cambio Tiber, S.A. de C.V." was required to maintain a minimum capital without right of withdrawal fully subscribed and paid of $42,202,802.29 (Forty-two million two hundred two thousand eight hundred two pesos 29/100 M.N.), with compliance required starting from January 1, 2014.

That in concordance with the first and last paragraphs of fraction I of the aforementioned Article 8 of the LGOAAC, Article Third of Resolution 2013 provides that, in addition to the amount of minimum subscribed and paid-in capital without right of withdrawal, the accounting capital of currency exchanges in no instance may be lower than the amount of minimum paid-in capital.

In this regard, Article Third of Resolution 2013 stipulates:

" THIRD.- The accounting capital of general warehouses, financial lessors, financial factoring companies, and currency exchanges, in no instance may be lower than the amount of minimum capital referred to in Articles FIRST and SECOND of this Resolution, as applicable.

Likewise, the amount of social capital with right of withdrawal, in no instance may be higher than the amount of paid-in social capital without right of withdrawal that the organizations and currency exchanges maintain.

For the purposes of this Resolution, accounting capital shall be understood as that resulting from the algebraic sum of all items that comprise it in accordance with the accounting criteria established by the National Banking and Securities Commission.

General warehouses and currency exchanges will enjoy the term referred to in Article FIRST of this Resolution to comply with what is provided in the present Article. " (Emphasis added)

That pursuant to Article Third, third paragraph of Resolution 2013, the accounting capital of a currency exchange is composed of the algebraic sum of all items that comprise it in accordance with the accounting criteria A-1 "Basic scheme of the set of accounting criteria applicable to currency exchanges" and A-2 "Application of particular norms" of Annex 5 referred to in article 7 of the "General provisions applicable to Auxiliary Credit Organizations, Currency Exchanges, Credit Unions, Limited Purpose Financial Societies, and Multiple Purpose Financial Societies Regulated", issued by the National Banking and Securities Commission, and published in the Official Gazette of the Federation on January 19, 2009.

In this regard, the aforementioned Provisions state the following:

" ARTICLE 7.- Currency exchanges will adhere to the accounting criteria attached to these provisions as Annex 5, which are divided into the series and criteria indicated below:

Series A.

Criteria relating to the general scheme of accounting for currency exchanges.

A-1. Basic scheme of the set of accounting criteria applicable to currency exchanges.

A-2. Application of particular norms.

A-3. Supplementary application to accounting criteria.

..."

"... Annex 5

A-1. BASIC SCHEME OF THE SET OF ACCOUNTING CRITERIA APPLICABLE TO CURRENCY EXCHANGES.

Objective

This criterion aims to define the basic scheme of the set of accounting guidelines applicable to currency exchanges.

Concepts composing the basic structure of accounting in currency exchanges

The accounting of currency exchanges will adhere to the basic structure that, for the application of Financial Information Standards (NIF), was defined by the Mexican Council for Research and Development of Financial Information Standards, A.C. (CINIF), in NIF A-1 "Structure of financial information standards".

In virtue of this, currency exchanges will consider in the first instance the norms contained in Series NIF A "Conceptual Framework", as well as what is established in criterion A-3 "Supplementary application to accounting criteria".

In such a way, currency exchanges will observe the accounting guidelines of the NIF, except when in the judgment of the National Banking and Securities Commission (CNBV) it is necessary to apply specific regulations or a specific accounting criterion, taking into consideration that currency exchanges carry out specialized operations.

The CNBV regulations referred to in the previous paragraph will be only at the level of particular norms of registration, valuation, presentation, and if applicable, disclosure, applicable to specific items within the financial statements of currency exchanges, as well as those applicable to their preparation.

The application of particular norms, nor the concept of supplementarity, will not proceed in the case of operations that by express legislation are not permitted or are prohibited, or well, are not expressly authorized to currency exchanges.

A-2 APPLICATION OF PARTICULAR NORMS

Objective and scope

This criterion aims to specify the application of the particular norms of the NIF, as well as the establishment of particular norms of general application to which currency exchanges must adhere.

Matter of this criterion:

a)

the application of some of the particular norms made known

in the NIF;

b)

the clarifications to the particular norms contained in the NIF, and

c)

the establishment of particular norms of general application.

Financial Information Standards

In accordance with what is established in criterion A-1 "Basic scheme of the set of accounting criteria applicable to currency exchanges", currency exchanges will observe, until there is an express pronouncement by the CNBV, the particular norms contained in the bulletins or NIF detailed below, or in the NIF that substitute or modify them:

Series NIF B "Norms applicable to financial statements as a whole"

Accounting changes and corrections of errors .......................................

B-1

Comprehensive income .............................................................................

B-4

Business acquisitions ...............................................................

B-7

Consolidated and combined financial statements and valuation of permanent investments

in shares ......................................................................................

B-8

Financial information at interim dates .........................................

B-9

Effects of inflation .....................................................................

B-10

Events subsequent to the date of the financial statements ........................

B-13

Earnings per share .........................................................................

B-14

Series NIF C "Norms applicable to specific concepts of financial statements"

Accounts receivable ........................................................................

C-3

Prepayments ..........................................................................

C-5

Real estate, machinery and equipment ........................................................

C-6

Intangible assets .........................................................................

C-8

Liability, provisions, assets and contingent liabilities and commitments ...........

C-9

Accounting capital ............................................................................

C-11

Financial instruments with characteristics of liability, of capital

or of both

C-

12

Impairment in the value of long-term assets and their disposal ...........

C-15

Series NIF D "Norms applicable to problems of determination of results"

Employee benefits ..............................................................

D-3

Taxes on earnings ....................................................................

D-4

Leases .............................................................................

D-5

Capitalization of the comprehensive result of financing

D-6

The circulars issued by the Mexican Institute of Public Accountants, A.C. and adopted by the CINIF, relating to the concepts referred to in the aforementioned bulletins, will be considered as an extension of the particular norms, insofar as these clarify points of the bulletins or give interpretations of them, until such time as they are repealed by the CINIF.

Additionally, currency exchanges will observe the NIF issued by the CINIF on topics not foreseen in the accounting criteria for currency exchanges, provided that:

a)

they are in force with definitive character;

b)

they are not applied in advance;

c)

they do not contravene the philosophy and general concepts established in the criteria of

accounting for currency exchanges, and

d)

there is no express pronouncement by the CNBV, among others, regarding

clarifications to the particular norms contained in the NIF that is issued, or well, regarding

its non-applicability.

..."

To comply with said legal obligation, "Casa de Cambio Tiber, S.A. de C.V.", in accordance with article 7 of the "General provisions applicable to auxiliary credit organizations, currency exchanges, credit unions, limited purpose financial societies, and multiple purpose financial societies regulated", cited, was constrained to observe the accounting criteria contained in Annex 5 of said Provisions, relating to the general scheme of accounting for currency exchanges, particularly with respect to Series A, Criteria A-1 and A-2, as they were applicable to it by virtue of holding the authorization referred to in Antecedent 1 of this official notice to operate as a currency exchange.

In accordance with the aforementioned Criterion A-1, "Casa de Cambio Tiber, S.A. de C.V.," was required to observe, in the preparation of its accounting, in the first instance, the accounting guidelines of the Financial Information Standards (NIF), except when in the judgment of the CNBV it was necessary to apply specific regulations or a specific accounting criterion, in said scenario, NIF A cited in its relevant part was applicable to "Casa de Cambio Tiber, S.A. de C.V.", as expressly established by paragraph 3 of Criterion A-1 established in Annex 5 of the Provisions in question.

Likewise, Criterion A-2 relative to the application of particular norms was applicable to it, which it was required to observe in accordance with the aforementioned precepts, taking into account that currency exchanges carry out specialized operations.

That in accordance with Article Thirtieth, fraction I of the Decree of January 10, 2014, Resolution 2013 became void only in what opposes the aforementioned Decree, so by a contrario sensu, Resolution 2013 was in force with respect to the amount of capital that currency exchanges were required to have by December 31, 2013, and that in accordance with fraction X, of Article Thirtieth of the aforementioned Decree, infractions committed prior to its entry into force will be sanctioned in accordance with the Law in force at the moment the infraction was committed.

That from the diverse 131/10010/2015 dated January 13, 2015 referred to in Antecedent 3 of the present official notice, it is derived that the General Director of Supervision of Groups and Financial Intermediaries F and the General Director of Litigation, both attached to the CNBV, in exercise of the powers conferred in articles 16, fractions I and XVII and penultimate paragraph of the Law of the National Banking and Securities Commission, 1, 3 fraction IV, 4, fraction II, Section B, numerals 6) and 26), 11, last paragraph, 12, 19, fractions I, subsection d) and II, in concordance with 16, fractions I, V and VIII and 17, fractions III, V, subsections g) and j) and XII, 38, fraction XII, of the Internal Regulations of the National Banking and Securities Commission, "Casa de Cambio Tiber, S.A. de C.V.", had an accounting capital of $32,128,599.00, (Thirty-two million one hundred twenty-eight thousand five hundred ninety-nine pesos 00/100 M.N), as derived from the aforementioned Antecedent 3, thereby infringing what is stipulated in Article 8, fraction I, last paragraph, of the LGOAAC, in force prior to the entry into force of the Decree of January 10, 2014, and Article Third of Resolution 2013, which establish that the accounting capital of currency exchanges in no instance shall be lower than the minimum paid-in capital.

That in the diverse 131/10010/2015, it is stated that the CNBV, through the General Director of Supervision of Groups and Financial Intermediaries F and the General Litigation Directorate, through official notice number 131/110768/2014 dated June 18, 2014, informed "Casa de Cambio Tiber, S.A. de C.V." that it proceeded to review the financial information with figures for the months of February and March 2014, presented to that Commission in printed form through the writings received on March 31 and May 2, 2014, respectively, and electronically through the Interinstitutional Information Transfer System (SITI) with the regulatory report B-1321 Balance Sheet, on March 28 and April 30, 2014, in that same order.

That as a result of said review, it was observed that the accounting capital deviated from what was provided in Article Third, in relation to First, fraction II, both of Resolution 2013, as indicated below:

Concept

Figures as of February

2014

Figures as of March

2014

Accounting Capital

$40,585,579.00

$35,936,495.00

Resolution determining minimum capitals

for the year 2013, published in the DOF on March 29

of 2013

$42,202,802.29

$42,202,802.29

Amount lower than the minimum paid-in capital

$1,617,223.29

$6,266,307.29

·

The observation formulated by said supervisory authority on the financial statements with figures as of February 2014, was notified to "Casa de Cambio Tiber, S.A. de C.V." through Official Notice No. 131/110735/2014 dated April 9, 2014, to which that Society responded through a writing received in said Commission on May 7, 2014, exhibiting a copy of 2 deposit slips from the 5th of the same month of May for the sum of $1,617,223.29, without having presented a copy of the Act of the Extraordinary General Meeting of Shareholders in which the terms of that contribution were agreed upon, nor a copy of the corresponding accounting vouchers.

·

The observation formulated by the aforementioned supervisory authority on the financial statements with figures as of March 2014, was communicated to "Casa de Cambio Tiber, S.A. de C.V.", through Official Notice number 131/110753/2014 dated May 13, 2014, without there being evidence in the controls and records of said Commission that that Society had exercised the right to hearing granted with that same Official Notice, nor presented information and documentation that disproved said observation, before the CNBV itself.

Likewise, in the aforementioned official notice 131/110768/2014 it was pointed out that, since the printed Balance Sheet with figures as of April 30, 2014 received in said Commission on May 26, 2014, revealed an accounting capital of the amount of $32,129 thousand, which is lower by $10,074 thousand than the minimum paid-in capital of $42,203 thousand that it must maintain in accordance with Resolution 2013, that Currency Exchange continued to deviate from what was provided in Article Third, in relation to First, fraction II, both of Resolution 2013.

For the above, the CNBV in the aforementioned official notice 131/110768/2014, granted "Casa de Cambio Tiber, S.A. de C.V.", a term of 60 natural days, in exercise of the power conferred by article 63, first paragraph, of the LGOAAC in force, 51-A and 56 of the same Law, in force prior to the entry into force of the Decree of January 10, 2014 and applicable because they correspond to the date on which that Currency Exchange fell under the ground for revocation mentioned in Antecedent 3 of the present official notice, in order for "Casa de Cambio Tiber, S.A. de C.V.", to integrate its capital in the necessary amount to maintain its operation within legal proportions, as well as to send to the General Director of Supervision of Groups and Financial Intermediaries F, the corresponding supporting documents.

That in the diverse 131/10010/2015 mentioned, it is stated that in response to the aforementioned official notice 131/110768/2014 dated June 18, 2014, "Casa de Cambio Tiber, S.A. de C.V.", through a writing received by the Commission on August 27, 2014, stated:

" That in view that in the financial statements of "Tiber", with figures as of April 30,

2014, this Honorable Authority observed that the accounting capital,

resulted lower than the minimum paid-in capital by an amount of $10,074 thousand(sic), which we are required to maintain, I manifest that in order to adhere to what is established in the last paragraph of article 82 of the General Law of Organizations and Auxiliary Credit Activities,

contributions were made, for $14,683,648.71 (FOURTEEN MILLION SIX HUNDRED EIGHTY-THREE THOUSAND SIX HUNDRED FORTY-EIGHT PESOS 71/100 M.N.), to remedy the capital insufficiency with figures as of July 31, 2014, which is accredited in terms of the vouchers I attach to the present writing as "UNIQUE ANNEX.

I do not omit to mention, that the corresponding legal procedures are being carried out in order to hold the Shareholders' Assembly of "Tiber", and to legally formalize the capital contributions for $16,300,872.00 (SIXTEEN MILLION THREE HUNDRED THOUSAND EIGHT HUNDRED SEVENTY-TWO PESOS 00/100 M.N.), of which $1,617,223.29 (ONE MILLION SIX HUNDRED SEVENTEEN THOUSAND TWO HUNDRED TWENTY-THREE 29/100 M.N.) were contributed on May 5, 2014 and $14,683,648.71 (FOURTEEN MILLION SIX HUNDRED EIGHTY-THREE THOUSAND SIX HUNDRED FORTY-EIGHT PESOS 71/100 M.N.), were contributed on August 25, 2014, a fact that will be informed to this Honorable Authority in due course. "

That this Secretariat considers that "Casa de Cambio Tiber, S.A. de C.V.", did not provide evidence or elements to disprove the lack of the minimum capital it was required to have for the year 2013, notwithstanding that as established in the previous Consideration, that Currency Exchange stated that contributions had been made for the amounts of $1,617,223.29, on May 5, 2014 and $14,683,648.71, on August 25, 2014. According to the figures provided by the Society to the Commission via SITI, for August 2014, its accounting capital amounted to the amount of $24,591,431.00, when for that exercise it was required to have a capital of at least equivalent to $45,625,575.00.

Additionally, for August 27, 2014, the capital contributions referred to by "Casa de Cambio Tiber, S.A. de C.V.", had no effect on the accounting capital, as they were registered in the item of Contributions for future increases since the legal acts to carry out the corresponding capital increase had not been formalized, including the request for approval by this Secretariat for the modification of its Bylaws.

That in accordance with the figures provided by the CNBV to this Secretariat, it is observed that for November 2014, the capital deficit of that Society amounted to the amount of $6,686,807.29.

That the second paragraph of Article 63 of the LGOAAC in force from January 11, 2014, establishes that after the term granted for the currency exchange to integrate the capital in the necessary amount to maintain the operation of the society within legal proportions has elapsed, without said action having been perfected, this Secretariat, after hearing the interested society and in protection of the public interest, may revoke the respective authorization in terms of the aforementioned Law.

In this regard, the second paragraph of Article 63 of the LGOAAC establishes:

" Article 63.- ...

If after the lapse referred to in the previous paragraph the necessary capital has not been integrated, the National Banking and Securities Commission will make this situation known to the Ministry of Finance and Public Credit, which, after hearing the

---

interested party, may, in protection of the public interest, declare the revocation of the respective authorization under the terms of this Law.

...

""

That from official letter 311-112487/2016 dated November 1, 2016, referred to in Antecedent 6 of the present official letter, it is evident that the CNBV, through the General Directorate of Special Authorizations, the Deputy General Directorate of Groups and Financial Intermediaries E3, and the Deputy General Directorate of Groups and Financial Intermediaries E5, reiterated to this Secretariat what was stated in official letter number 131/10010/2015 dated January 13, 2015, already cited, whereby the financial situation of "Casa de Cambio Tiber, S.A. de C.V." was informed, for the purpose of revoking its authorization to operate as a currency exchange, because as of the date of the aforementioned official letter 311-112487/2016, that Company continued not to maintain the minimum capital provided for in the LGOAAC, falling within what is provided in article 87, fraction II of said Law.

That in accordance with fraction III of article 82 of the LGOAAC in effect since January 11, 2014, currency exchanges must have a minimum subscribed and paid-in capital of 8,657,000 investment units, which must be fully subscribed and paid no later than the last business day of the year in question, that is, December 31, 2014. "Casa de Cambio Tiber, S.A. de C.V." would have to have the capital requested by the cited article, making Resolution 2013 no longer applicable. Likewise, the aforementioned article 82 establishes that its book capital at no time shall be less than the minimum capital.

In this sense, article 82 of the LGOAAC provides:

"Article 82. Only those anonymous societies organized in accordance with the provisions of the General Law of Commercial Societies that meet the following requirements, which shall be called currency exchanges, will enjoy the authorization referred to in article 81 of this Law:

...

III.

Currency exchanges must have a minimum subscribed and paid-in capital without right of withdrawal, equivalent in national currency to 8,657,000 investment units, which must be fully subscribed and paid no later than the last business day of the year in question. For these purposes, the value of the investment units corresponding to December 31 of the immediately preceding year will be considered.

...

Regarding variable capital societies, the minimum capital will be integrated by shares without right of withdrawal, representative of the fixed portion of social capital. The amount of capital with right of withdrawal, in no case, may be greater than the paid-in capital without right of withdrawal. Likewise, the book capital at no time shall be less than the minimum capital referred to in this article. "

That in congruence with what is stated in the preceding Consideration, as of January 1, 2017, "Casa de Cambio Tiber, S.A. de C.V." should have had a minimum capital of $46,584,831.98 (FORTY-SIX MILLION FIVE HUNDRED EIGHTY-FOUR THOUSAND EIGHT HUNDRED THIRTY-ONE PESOS 98/100 M.N.), taking into consideration the value of the investment units on December 31, 2015, and its book capital shall not be less than this amount.

That articles 81, first paragraph, and 82, fraction I, of the LGOAAC contemplate that currency exchanges are authorized to carry out, in a habitual and professional manner, purchase, sale, and exchange of foreign currency operations, including those carried out through transfer or transmission of funds, with the public within national territory.

In this sense, article 81, first paragraph, of the LGOAAC provides:

"Article 81.- Authorization from the Ministry of Finance and Public Credit will be required to carry out, in a habitual and professional manner, purchase, sale, and exchange of foreign currency operations, including those carried out through transfer or transmission of funds, with the public within national territory, except in the cases foreseen in this article. ..."

For its part, article 82, fraction I, of the LGOAAC establishes:

"Article 82.- Only those anonymous societies organized in accordance with the provisions of the General Law of Commercial Societies that meet the following requirements, which shall be called currency exchanges, will enjoy the authorization referred to in article 81 of this Law: I.

That their corporate object be exclusively the carrying out, in a habitual and professional manner, of the following operations:

a)

Purchase or collection of sight documents denominated and payable in foreign currency, issued by financial entities, without limit per document;

b)

Sale of sight documents payable in foreign currency that currency exchanges issue on behalf of credit institutions of the country, branches and agencies abroad of the latter, or banks abroad;

c)

Purchase and sale of foreign currencies through fund transfers to bank accounts;

d)

Those indicated in article 81-A of this Law, and

e)

Those others authorized by the Bank of Mexico, through general provisions. ..."

It is the case that, as derived from official letter 311-112487/2016 dated November 1, 2016, mentioned above, the CNBV made known to this Secretariat that, in accordance with the information available to that Commission itself, "Casa de Cambio Tiber, S.A. de C.V." had ceased to carry out, in a habitual and professional manner, purchase, sale, and exchange of foreign currency operations with the public, which updates the cause for revocation referred to in article 87, fraction V of said LGOAAC.

That article 87, fractions II and V, of the LGOAAC in effect since January 11, 2014, establishes that this Secretariat, with the opinion of the Bank of Mexico and the CNBV, and after hearing the interested society, may declare the revocation of the authorization of currency exchanges, among other causes, if its book capital becomes less than its required minimum capital or if it does not perform the functions, nor carry out the operations for which it was authorized.

In effect, article 87, fractions II and V, of the LGOAAC establishes:

"Article 87.- The Ministry of Finance and Public Credit, with the opinion of the National Banking and Securities Commission and the Bank of Mexico and after hearing the interested society, may declare the revocation of the authorization referred to in this chapter, in the following cases:

...

II. If it does not maintain the minimum capital provided for in this Law or if its book capital becomes less than its required minimum capital, or if it suspends or abandons its activities.

...

V.

If the society does not perform the functions, nor carry out the operations for which it was authorized. ..."

In this sense, from the transcription of articles 82 and 87 of the aforementioned LGOAAC, it is concluded that, to continue operating, "Casa de Cambio Tiber, S.A. de C.V." must:

i.

Have as of December 31, 2016, a book capital amounting to at least $46,584,831.98, taking into consideration the value of the investment units on December 31 of the immediately preceding year.

In this sense, and according to the information provided by the Commission in similar letter 131/10010/2015 cited, given that "Casa de Cambio Tiber, S.A. de C.V." had a book capital as of April 30, 2014, of $32,128,599.00, that is, $10,074,203.29 less than the minimum paid-in capital it was required to maintain at that moment, and having not been reintegrated within the 60 natural days term granted by that Commission, in accordance with what is provided by article 63, first paragraph, of the LGOAAC, since, as it states, even considering the capital contributions referred to by the Entity, the capital shortfall persisted in November 2014 at $6,686,807.29, as seen in the own letter 131/10010/2015 mentioned.

Likewise, in the diverse 311-112487/2016 mentioned, the CNBV reiterates what was manifested in the diverse 131/10010/2015 cited, since "Casa de Cambio Tiber, S.A. de C.V." continues not to maintain the minimum capital provided for in the LGOAAC.

ii.

Continue carrying out, in a habitual and professional manner, purchase, sale, and exchange of foreign currency operations, in accordance with articles 81 and 82 of the LGOAAC, as well as under the terms of the authorization granted by this Secretariat through official letter 102-E-366-DGSV-II-B-c-0451 dated January 27, 1986.

This is so, since from the diverse 311-112487/2016 mentioned, it is evident that based on the information available to the CNBV, it is evidenced that "Casa de Cambio Tiber, S.A. de C.V." has ceased to carry out, in a habitual and professional manner, purchase, sale, and exchange of foreign currency operations with the public.

That based on the foregoing, as well as on the report on the situation of "Casa de Cambio Tiber, S.A. de C.V." issued by the CNBV, there are elements indicating that that currency exchange falls under the causes for revocation referred to in fractions II and V of article 87 of the LGOAAC in effect since January 11, 2014, for not having the minimum capital provided for in the LGOAAC and not carrying out the operations for which it was authorized.

That through official letter number UBVA/DGABV/300/2017 dated October 17, 2017, referred to in Antecedent 6 of the present official letter, this Secretariat notified "Casa de Cambio Tiber, S.A. de C.V." of the start of the revocation procedure of the authorization cited in Antecedent 1, and summoned that Society in accordance with article 87, first paragraph, of the General Law of Organizations and Auxiliary Credit Activities, to manifest what suited its rights, provide evidence it possessed, and formulate arguments, granting a term for such effect, in terms of what is provided by articles 1075, 1076, and 1079 fraction I of the Code of Commerce, applicable suppletorily in accordance with article 10 of the General Law of Organizations and Auxiliary Credit Activities.

That article 87 of the General Law of Organizations and Auxiliary Credit Activities provides:

"Article 87.- The Ministry of Finance and Public Credit, hearing the Bank of Mexico and the National Banking Commission and after hearing the interested society, may declare the revocation of the authorization referred to in this chapter, in the following cases:

II.

If it does not maintain the minimum capital provided for in this Law or if its book capital becomes less than its required minimum capital, or if it suspends or abandons its activities;

...

V.

If the society does not perform the functions, nor carry out the operations for which it was authorized;

...

The declaration of revocation shall be registered in the Public Commerce Registry, prior order of the Ministry of Finance and Public Credit, and shall be published in the Official Journal of the Federation. The revocation will incapacitate the society from carrying out its operations from the date on which it is notified and will place it in a state of dissolution and liquidation.

The National Banking and Securities Commission will promote before the judicial authority to designate the liquidator if within the term of sixty business days of publication in the Official Journal of the Federation the revocation has not been designated. When the Secretariat or the liquidator finds that there is impossibility to carry out the liquidation of the society, it will make it known to the competent judge to order the cancellation of its registration in the Public Commerce Registry, which will take effect after one hundred eighty natural days have passed from the judicial mandate.

Interested parties may oppose this cancellation within a term of sixty natural days, counted from the registration of the cancellation in the Public Commerce Registry before the own judicial authority. "

That in accordance with Antecedent 8 of the present official letter, "Casa de Cambio, Tiber, S.A. de C.V." did not respond to the summons contained in letter UBVA/DGABV/300/2017, therefore it did not expose what suited its rights, did not provide any evidence, nor formulated arguments, so the warning indicated in the cited letter became effective, in the sense of continuing with the procedure and resolving with the elements in the file.

That it is opportune to reiterate that as of the issuance of the present official letter, "Casa de Cambio Tiber, S.A. de C.V." has not informed nor accredited before this Secretariat the actions taken to regularize its capital situation, nor the performance of the operations for which it was authorized.

That in virtue thereof, this Secretariat, based on what is provided by articles 31, fractions VIII and XXXIV, of the Organic Law of the Federal Public Administration; 87, fractions II and V of the General Law of Organizations and Auxiliary Credit Activities, after hearing the CNBV and the Bank of Mexico through letters 212/61950/2017 and OFI002-1802026, respectively, and once the society named "Casa de Cambio Tiber, S.A. de C.V." has been notified and summoned, to manifest what suited its rights, provide evidence it possessed, and formulate arguments, through letter UBVA/DGABV/300/2017 dated October 17, 2017, and in exercise of the attributes conferred to its holder by article 6o, fraction XXII, of the Internal Regulation of the Ministry of Finance and Public Credit, has resolved to dictate the following:

RESOLUTION BY WHICH THE REVOCATION OF THE AUTHORIZATION GRANTED TO THE SOCIETY NAMED "CASA DE CAMBIO TIBER, S.A. DE C.V.", TO OPERATE AS A CURRENCY EXCHANGE IS DECLARED

FIRST. -

The revocation of the authorization that this Ministry of Finance and Public Credit granted through official letter number 102-E-366-DGSV-II-B-c-0451 dated January 27, 1986, for the society "Casa de Cambio Tiber, S.A. de C.V." to carry out the activities referred to in fraction I of article 82 of the General Law of Organizations and Auxiliary Credit Activities, is declared, resulting from the updating of the causes for revocation provided in fractions II and V of article 87 of the General Law of Organizations and Auxiliary Credit Activities, in accordance with the arguments set forth in the Considerations of the present official letter.

SECOND.

Notify the Society "Casa de Cambio Tiber, S.A. de C.V." of this resolution, observing the legal requirements indicated in the applicable legal provisions and for the effects of the last paragraph of article 87 of the General Law of Organizations and Auxiliary Credit Activities which provides:

" ... The revocation will incapacitate the society from carrying out its operations from the date on which it is notified and will place it in a state of dissolution and liquidation. The National Banking and Securities Commission will promote before the judicial authority to designate the liquidator if within the term of sixty business days of publication in the Official Journal of the Federation the revocation has not been designated. When the Secretariat or the liquidator finds that there is impossibility to carry out the liquidation of the society, it will make it known to the competent judge to order the cancellation of its registration in the Public Commerce Registry, which will take effect after one hundred eighty natural days have passed from the judicial mandate. Interested parties may oppose this cancellation within a term of sixty natural days, counted from the registration of the cancellation in the Public Commerce Registry before the own judicial authority. " .

THIRD.

Based on what is provided by the second paragraph of article 87 of the General Law of Organizations and Auxiliary Credit Activities, request the registration of this declaration of revocation in the Public Commerce Registry corresponding to the domicile of "Casa de Cambio Tiber, S.A. de C.V." .

FOURTH.

Based on what is provided in the second paragraph of article 87 of the General Law of Organizations and Auxiliary Credit Activities, publish this resolution in the Official Journal of the Federation.

Given in Mexico City, on October 5, 2018.- The Secretary, José Antonio González Anaya .- Rubric.

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