Regulatory Alerts2016-05-17 | DOF 5437411Added
Office revoking the authorization granted to Banco Espírito Santo S.A. to operate as a Joint Representation Office in Mexico
The National Banking and Securities Commission revokes the authorization granted to Banco Espírito Santo S.A. to operate as a Joint Representation Office in Mexico. The revocation is based on the insolvency proceedings initiated by the Bank of Portugal against the entity and the entity's failure to exercise its right to a hearing within the stipulated ten-day period. Consequently, the authorization is terminated, and the entity is no longer permitted to operate as a representation office in Mexico.
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