Regulatory Alerts2021-10-08 | DOF 5632094Added · Updated
Official Letter Authorizing the Organization and Operation of Crowd Up Mex, S.A.P.I. de C.V., a Collective Financing Institution
The National Banking and Securities Commission authorizes Crowd Up Mex, S.A.P.I. de C.V. to organize and operate as a Collective Financing Institution with an initial capital of 7,000,000 Mexican pesos and its domicile in Mérida, Yucatán. The authorization is subject to supervision by the Commission and the Bank of Mexico, and requires the entity to commence operations within six months of notification or face revocation. The institution must comply with the Law for the Regulation of Financial Technology Institutions and related general provisions.