Resolution amending and adding General Provisions regarding Articles 115 of the Credit Institutions Law in relation to Articles 87-D and 95-Bis of the General Law of Credit Organizations and Auxiliary Activities, applicable to Multiple-Object Financial Societies

DOF: 17/01/2020

RESOLUTION amending and adding the General Provisions referred to in Article 115 of the Credit Institutions Law in relation to Article 87-D of the General Law of Credit Organizations and Auxiliary Activities and Article 95-Bis of the latter legislation, applicable to Multiple-Object Financial Societies.

A seal bearing the National Coat of Arms, which reads: United Mexican States.- TREASURY.- Ministry of Finance and Public Credit.- Undersecretariat of Finance and Public Credit.- Unit of Banking, Securities and Savings, is placed at the margin.

RESOLUTION AMENDING AND ADDING THE GENERAL PROVISIONS REFERRED TO IN ARTICLE 115 OF THE CREDIT INSTITUTIONS LAW IN RELATION TO ARTICLE 87-D OF THE GENERAL LAW OF CREDIT ORGANIZATIONS AND AUXILIARY ACTIVITIES AND ARTICLE 95-BIS OF THE LATTER LEGISLATION, APPLICABLE TO MULTIPLE-OBJECT FINANCIAL SOCIETIES

ARTURO HERRERA GUTIÉRREZ, Secretary of Finance and Public Credit, based on the provisions of Articles 31, fractions VIII and XXXIV, of the Organic Law of the Federal Public Administration; Article 115 of the Credit Institutions Law in relation to Articles 87-D and 95 Bis of the General Law of Credit Organizations and Auxiliary Activities; in the exercise of the powers conferred upon me by Article 6, fraction XXXIV, of the Internal Regulations of the Ministry of Finance and Public Credit; and having received the prior opinion of the National Banking and Securities Commission issued via letters number 221/DGPORPIA-76906/2019 and 213-2/79573/45/2019 dated December 17, 2019; and

CONSIDERING

That with the amendment to the General Provisions referred to in Article 115 of the Credit Institutions Law in relation to Article 87-D of the General Law of Credit Organizations and Auxiliary Activities and Article 95-Bis of the latter legislation, applicable to multiple-object financial societies, published in the Official Gazette of the Federation on March 21, 2019, an identification regime was established for debtors in financial factoring operations with the purpose of preventing operations with proceeds of illicit origin and financing of terrorism (AML/CFT);

That although it is true that the identification of the debtor in the financial factoring operation was established for AML/CFT purposes, it is also true that these measures do not intend to discourage the operation of financial factoring, which is oriented towards satisfying the working capital needs of companies, providing greater liquidity, supporting them in their cash flow and productive cycle;

That in this sense and in accordance with Recommendation 10 of the Financial Action Task Force, it is necessary to specify the debtor identification requirements in factoring operations conducted by multiple-object financial societies with their clients, in order to integrate the identification file of said debtor, who, although not a client or user of the multiple-object financial society, is part of a financial operation involving the use of resources that must be identified;

That after hearing the opinion of the National Banking and Securities Commission, I have deemed it appropriate to issue the following:

RESOLUTION AMENDING AND ADDING THE GENERAL PROVISIONS REFERRED TO IN ARTICLE 115 OF THE CREDIT INSTITUTIONS LAW IN RELATION TO ARTICLE 87-D OF THE GENERAL LAW OF CREDIT ORGANIZATIONS AND AUXILIARY ACTIVITIES AND ARTICLE 95-BIS OF THE LATTER LEGISLATION, APPLICABLE TO MULTIPLE-OBJECT FINANCIAL SOCIETIES

SINGLE ARTICLE.- The 4th, fraction VII, second paragraph, is AMENDED, and the 4th, fraction VII, items i. to x., are ADDED to the General Provisions referred to in Article 115 of the Credit Institutions Law in relation to Article 87-D of the General Law of Credit Organizations and Auxiliary Activities and Article 95-Bis of the latter legislation, applicable to multiple-object financial societies, to read as follows:

"4th.- ...

...

I.

a VI.

...

VII . ...

Furthermore, regarding those persons who appear as debtors of the receivables acquired through a financial factoring operation, and who do not have the status of Clients, the Entities must collect the following identification data:

i.

Paternal surname, maternal surname, and first name or names without abbreviations, or corporate name or trade name.

ii.

Activity or corporate object, when the Entity has it.

iii.

Date of birth or date of incorporation, when the Entity has them.

iv.

Federal Taxpayer Registry (with homoclave) and, if applicable, tax identification number and/or equivalent, as well as the country or countries that assigned them.

v.

Advanced electronic signature serial number, when the Entity has it.

vi.

Address (composed of the name of the street, avenue, or route in question, duly specified; exterior number and, if applicable, interior number; neighborhood or urbanization; borough or municipality or similar political demarcation that corresponds, if applicable; city or town; federal entity, state, province, department or similar political demarcation that corresponds, if applicable; postal code and country), when the Entity has it.

vii.

Nationality, when the Entity has it.

viii.

Phone number(s) for said address, when the Entity has it.

ix.

Email address, when the Entity has it.

x.

Full name without abbreviations of the administrator or administrators, director, general manager or legal representative who, with their signature, can bind the legal entity, when the Entity has it.

VIII. a IX.

...

...

...

...

..."

TRANSITIONAL PROVISIONS

First.- This Resolution shall enter into force the day following its publication in the Official Gazette of the Federation.

Second.- The Entities shall have six months counted from the entry into force of this Resolution to (i) modify the Compliance Manual and present it to the Commission, and (ii) update the automated systems referred to in the 43rd of the Provisions.

Third.- The Resolution of March 17, 2011 and subsequent Resolutions through which the General Provisions referred to in Article 115 of the Credit Institutions Law in relation to Article 87-D of the General Law of Credit Organizations and Auxiliary Activities and Article 95-Bis of the latter legislation, applicable to multiple-object financial societies, have been amended or added, shall remain applicable insofar as they do not conflict with what is established in this Resolution.

Mexico City, January 8, 2020. - The Secretary of Finance and Public Credit, Arturo Herrera Gutiérrez. - Signature.

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