Regulatory Alerts2018-08-08 | DOF 5534157Added
Office Order revoking the authorization granted to Devida Hipotecaria, 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 Devida Hipotecaria, S.A. de C.V., S.F.P., to operate as a Popular Financial Society based on violations of the Savings and Popular Credit Law. The revocation is grounded in the entity's failure to meet capitalization levels, with a net capital shortage of $154,226 and a capitalization level of -3,081.2294% as of May 2017, as well as its repeated failure to submit required regulatory reports and comply with prudential regulations. The decision mandates the dissolution and liquidation of the entity in accordance with the law.
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