Official Letter Revoking Authorization Granted to Landesbank Baden-Württemberg of Stuttgart, Federal Republic of Germany, Representative Office in Mexico, to Operate as a Representative Office of a Foreign Financial Entity

Official Gazette of the Federation: 28/04/2023

OFFICIAL LETTER whereby the authorization granted to Landesbank Baden-Württemberg of Stuttgart, Federal Republic of Germany, Representative Office in Mexico, to operate as a representative office of a foreign financial entity is revoked

On the margin a seal with the National Coat of Arms, which says: United Mexican States.- FINANCE.- Secretariat of Finance and Public Credit.- National Banking and Securities Commission.- Legal Vice Presidency.- General Directorate of Litigation.- Official Letter: P091 /2023.- File: CNBV.2C.5 Revocation, 212,(), " 20/01/2023 20/01/ 2023 " , REV/51/EF/01.

Subject:

Revocation

of

your

authorization

to

continue

operating

as

a

representative

office

of

a

foreign

financial

entity.

LEGAL REPRESENTATIVE

OF

LANDESBANK

BADEN-

WÜRTTEMBERG

OF

STUTTGART,

FEDERAL REPUBLIC

OF

GERMANY,

REPRESENTATIVE

OFFICE

IN

MEXICO

Av.

Santa

Fe

170,

Centro

Alemán

01-02-08,

Colonia

Lomas

de

Santa

Fe,

Álvaro

Obregón,

P.O. Box

01219,

Mexico

City.

This National Banking and Securities Commission, based on article 7, paragraph three of the Credit Institutions Law (hereinafter " LIC " ), in relation with section V of the Fifteenth Rule of the Rules for Representative Offices of Foreign Financial Entities (hereinafter " the Rules " ) , 2 first paragraph; 4, sections I, XI and XXXVIII, 5, 12 sections V and XV and 16, sections VI and XVII of the Law of the National Banking and Securities Commission (hereinafter LCNBV), has the purpose of supervising and regulating within its competence the entities comprising the Mexican financial system, in order to ensure their stability and correct functioning, as well as maintain and promote the sound and balanced development of said system as a whole, in protection of the public interest, authorize the constitution and operation of those entities indicated by the laws and, where appropriate, agree on the revocation of said authorizations.

In order to comply with said legal provisions, this resolution of revocation of the authorization to continue operating as a representative office of a foreign financial society is issued, which at the time was granted to the society named LANDESBANK BADEN-WÜRTTEMBERG OF STUTTGART, FEDERAL REPUBLIC OF GERMANY, REPRESENTATIVE OFFICE IN MEXICO , (hereinafter " Landesbank, Representative Office, Entity or Society ", interchangeably), according to the following:

BACKGROUND

[ ... ]

CONSIDERATIONS

[ ... ]

Based on the foregoing it is appropriate to conclude that, in accordance with the information available to this Commission, concatenated to the fact that said representative office did not provide sufficient elements to disprove the cause for revocation in question, the cause for revocation for which LANDESBANK BADEN-WÜRTTEMBERG OF STUTTGART, FEDERAL REPUBLIC OF GERMANY, REPRESENTATIVE OFFICE IN MEXICO , was summoned has been updated, established in article 7, paragraph three of the LIC, in relation with section V of the Fifteenth Rule of the Rules.

[ ... ]

RESOLVES

FIRST .

This Decentralized Body, based on the provisions of article 7, paragraph three of the Credit Institutions Law, in relation with section V of the Fifteenth Rule of the Rules for Representative Offices of Foreign Financial Entities and 12, section V and XV, of the Law of the National Banking and Securities Commission and in accordance with the SIXTH Agreement adopted by the Board of Governors of said Commission in its ordinary session held on March 31, 2023 , and to the considerations that were exposed in this resolution, REVOKES to LANDESBANK BADEN- WÜRTTEMBERG OF STUTTGART, FEDERAL REPUBLIC OF GERMANY, REPRESENTATIVE OFFICE IN MEXICO , the authorization for the organization and functioning to operate as a representative office of a foreign financial entity.

SECOND .

From the date of notification of this resolution, LANDESBANK BADEN- WÜRTTEMBERG OF STUTTGART, FEDERAL REPUBLIC OF GERMANY, REPRESENTATIVE OFFICE IN MEXICO , is disabled to carry out activities.

THIRD.

[ ... ]

Thus provided the President of the National Banking and Securities Commission, based on the provisions of articles 16, sections VI and XVII, of the Law of the National Banking and Securities Commission and signs, in substitution for absence of the same, the Legal Vice President of this Commission, in accordance with the provisions of articles 3, section III, second paragraph, 4, section I, subsection A, section II, subsection A, item 7), 9, 14 and 60 of the Internal Regulations of the National Banking and Securities Commission.

Sincerely

Mexico City

on

April

12

of

2023. • Legal Vice President of the National Banking and Securities Commission , Attorney

Ángel

Salvador

Vargas

Mitre .

In Mexico City, on the twenty-fourth of April of 2023, the undersigned, ATTORNEY JUAN MANUEL HERNÁNDEZ VEGA and ATTORNEY ARMANDO DÍAZ BETANCOURT , Area Directors assigned to the General Directorate of Litigation of the National Banking and Securities Commission , based on the provisions of articles 16, section I and antepenultimate paragraph, and 17, of the Law of the National Banking and Securities Commission , in relation with articles 1, 17, 42, section VII and 64 of the Internal Regulations of the National Banking and Securities Commission , published in the Official Gazette of the Federation on February 28, 2022; and article 31, section I, item 2), of the " Agreement whereby the President of the National Banking and Securities Commission delegates powers to the Vice Presidents, General Directors and Deputy General Directors of said Commission " , published in the cited information medium on November 30, 2015 and modified by agreement published on December 14, 2016, WE CERTIFY that this copy consists of ONE PAGE , which agrees faithfully with the archives of this National Banking and Securities Commission , and that we had in view.- Initials.

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