Official Letter Revoking Authorization for Standard Chartered Bank, London, England, Representation in Mexico, and Closing Its Office

DOF: 18/04/2017

OFFICIAL LETTER revoking the authorization granted to Standard Chartered Bank, London, England, Representation in Mexico, for its establishment in national territory, as well as the closure of its office.

A seal with the National Coat of Arms appears on the margin, which reads: United Mexican States.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.- Presidency.- Vice Presidency of Normativity.- Vice Presidency of Supervision of Groups and Financial Intermediaries B.- Official Letter No.: 310-14438/2017.- File No.: CNBV.312.211.23 (1093).

Subject:

Closure of its Office of Representation

in Mexico, as well as revocation of the

authorization for its establishment.

STANDARD CHARTERED BANK

Pedregal No. 24, floor 14

Col. Molino del Rey, Miguel Hidalgo Municipality

11040, Mexico City

TO: MR. RODRIGO HUMBERTO GURDIAN

Representative

We refer to your letters dated February 14 and 22 of the current year, through which you notified this Commission of the definitive closure of Standard Chartered Bank, London, England, Representation in Mexico, and consequently requested the revocation of the corresponding authorization.

BACKGROUND

By official letter 102-E-367-DGBM-II-B-c-3277 dated December 9, 1992, the Ministry of Finance and Public Credit authorized Standard Chartered Bank to establish a representation office in national territory, with headquarters in Mexico City under the name Standard Chartered Bank, London, England, Representation in Mexico.

Attending to the aforementioned background and considering that the request and documentation presented comply with the applicable provisions, this Commission, based on what is established in the Fifteenth, fraction VI of the "Rules for representation offices of foreign financial entities", published in the Official Gazette of the Federation on December 31, 2014, has resolved to authorize the closure of Standard Chartered Bank, London, England, Representation in Mexico.

As a consequence of the above and based on the aforementioned Fifteenth Rule, the members of the Board of Directors of this Commission, in a session held on the 3rd of the current month and year, adopted the following:

AGREEMENT

" TRIGINTH.- The members of the Board of Directors, based on Article 12, fraction XV of the Law of the National Banking and Securities Commission, in relation to Article 7 of the Credit Institutions Law and the Fifteenth, fraction VI of the Rules for representation offices of foreign financial entities, taking into consideration the favorable opinion issued by the Authorization Committee of the National Banking and Securities Commission in its session held on March 21, 2017, unanimously approved the revocation of the authorization for the establishment in national territory of Standard Chartered Bank, London, England, Representation in Mexico, granted by the Ministry of Finance and Public Credit through official letter 102-E-367-DGBM-II-B-c-3277 dated December 9, 1992, as a consequence of its closure. "

This official letter is issued based on Articles 12, 15, fraction VIII, in relation to 19, fractions I, subsection f), III and last paragraph and 40, fractions I and VII of the Internal Regulations of the National Banking and Securities Commission, published in the Official Gazette of the Federation on November 12, 2014; and 1, fraction VI, 11, fraction I, subsections 1) and 3) and 36, fraction I, subsection 1) of the Agreement by which the President of the National Banking and Securities Commission delegates powers to the Vice Presidents, General Directors and Assistant General Directors of said Commission, published in the said Gazette on November 30, 2015.

Respectfully,

Mexico City, April 4, 2017. - The Vice President of Normativity, Arcelia Olea Leyva. - Signature. - The Vice President of Supervision of Groups and Financial Intermediaries B, Ricardo Medina Álvarez. - Signature.

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