Resolution amending and adding the General Provisions applicable to Currency Exchanges under Article 81-A of the General Law of Credit Organizations and Auxiliary Activities — SHCP — MX

DOF: 19/01/2023

RESOLUTION amending and adding the General Provisions referred to in Article 95 Bis of the General Law of Credit Organizations and Auxiliary Activities applicable to the Currency Exchanges referred to in Article 81-A of the same legislation.

At the margin, a seal with the National Coat of Arms, which reads: United Mexican States.- TREASURY.- Ministry of

Treasury and Public Credit.

RESOLUTION AMENDING AND ADDING THE GENERAL PROVISIONS REFERRED TO IN ARTICLE 95 BIS OF THE GENERAL LAW OF CREDIT ORGANIZATIONS AND AUXILIARY ACTIVITIES APPLICABLE TO THE CURRENCY EXCHANGES REFERRED TO IN ARTICLE 81-A OF THE SAME LEGISLATION

ROGELIO EDUARDO RAMÍREZ DE LA O, Secretary of Treasury and Public Credit, based on

the provisions of articles 31, fractions VIII and XXXII, of the Organic Law of the Federal Public Administration;

95 Bis of the General Law of Credit Organizations and Auxiliary Activities, in exercise of the

powers conferred upon me by article 6º, fraction XXXIV, of the Internal Regulations of the Ministry of

Treasury and Public Credit, and with the prior opinion of the National Banking and Securities Commission

issued via letter number 221/DGPORPIA-2508781/2022 and 213-2/2513063/37/2022 dated November 24,

2022; and

CONSIDERING

That since the year 2000 Mexico has been a full member of the Financial Action Task Force (FATF),

an intergovernmental body that sets international standards in matters of prevention and combat against

operations with proceeds of illicit origin and financing of terrorism;

That Recommendation 1 of the FATF and its Interpretive Note indicate that when countries identify

higher risks, they must ensure that their respective regimes for the prevention of operations with

proceeds of illicit origin and financing of terrorism address them adequately;

That, in this sense, in determining how the risk-based approach must be implemented in an

obligated subject, among others, supervisors must review the profiles and assessments of the risk of operations with

proceeds of illicit origin and financing of terrorism that the obligated subjects implement, as well as take into account the result of this review in the exercise of their supervisory powers;

That, based on the foregoing, it is considered necessary that the National Banking and Securities Commission,

as the supervisory authority, be aware of the exposure to the risk of operations with proceeds of illicit

origin and financing of terrorism of the Currency Exchanges, through the collection of additional

quantitative information provided by them;

That, additionally, in compliance with Recommendation 4 of the FATF and the content of the Mutual

Evaluation Report, issued by said intergovernmental body, in January 2018, it is necessary to strengthen the

legal framework regarding the composition of the Blocked Persons List, given that our country,

as a member of the FATF, has recognized the formation of shell companies as a generalized technique

to carry out operations with proceeds of illicit origin; in this sense, the ground for

inclusion in the Blocked Persons List is added for those taxpayers referred to in the fourth paragraph of

Article 69-B of the Federal Tax Code, the foregoing for the purpose of preventing the commission of the crimes of

operations with proceeds of illicit origin and financing of terrorism;

That in attention to Article 78 of the General Law of Regulatory Improvement and with the purpose of complying with the

requirement of regulatory simplification for the issuance of this Resolution, the savings generated in the "Resolution that amends, adds and repeals various of the General Provisions

referred to in Article 95 Bis of the General Law of Credit Organizations and Auxiliary Activities

applicable to persons who carry out the operations referred to in Article 81-A of the same

legislation", adjudicated by the National Commission for Regulatory Improvement in file CONAMER/22/ 5447, with an amount of $137,017,280.00 pesos, and

That once the opinion of the National Banking and Securities Commission has been heard, I have deemed it appropriate to issue the following:

RESOLUTION AMENDING AND ADDING THE GENERAL PROVISIONS REFERRED TO IN

ARTICLE 95 BIS OF THE GENERAL LAW OF CREDIT ORGANIZATIONS AND AUXILIARY

ACTIVITIES APPLICABLE TO THE CURRENCY EXCHANGES REFERRED TO IN

ARTICLE 81-A OF THE SAME LEGISLATION

SINGLE ARTICLE.- The 4th, fraction III, subfraction A, sub-subfraction b, numeral i, second paragraph;

15th; 17th; 24th, first paragraph; 29th, first paragraph; 34th Bis; 35th, first paragraph, fractions I to III; 57th, second

paragraph, are AMENDED, and the 2nd, fraction XVI Bis; 48th Bis; 58th, first paragraph, fraction VII; 61st, first paragraph,

fraction V, all of them of the General Provisions referred to in Article 95 Bis of the Law

General of Credit Organizations and Auxiliary Activities applicable to Currency Exchanges referred to in

Article 81-A of the same legislation, are ADDED, to read as follows:

2nd.-

...

I. to XVI. ...

XVI. Bis. Interim Compliance Officer, to the person referred to in the 34th Bis of these

Provisions;

XVII. to XXVI. ...

4th.-

...

I. and II.

...

III. ...

...

For the purposes of what is provided in this subfraction, the following valid personal identification documents issued by Mexican authorities shall be considered: the voter credential, the passport, the professional license, the national military service card, the consular registration certificate, the military identity credential, the card of affiliation to the National Institute of Older Adults, the credentials and cards issued by the Mexican Institute of Social Security, by the Institute of Social Security and Services for State Workers, by the Social Security Institute for the Mexican Armed Forces or by Popular Insurance, the driver's license, the credentials issued by federal, state and municipal authorities, the identity statements issued by municipal authorities and the other national identifications that, in their case, the Commission approves. Such approval regardless of the authority that issues it. Likewise, with respect to natural persons of foreign nationality referred to in this subfraction A, in addition to those previously referred to in this paragraph, the passport or passport card or the documentation issued by the National Institute of Migration that accredits their migratory status, as well as the accreditation card issued by the Ministry of Foreign Affairs to diplomatic or consular bodies shall be considered as valid personal identification documents.

ii. to v.

...

B. to F.

...

15th.- The application of the user knowledge policy shall be based on the Risk Grade that

Users represent, such that, when the Risk Grade is higher, Currency Exchanges

shall collect more information about their predominant economic activity, as well as carry out a stricter supervision of their transactional behavior.

17th.- Prior to the celebration of Operations with Users who, due to their characteristics, are

classified with a high Risk Grade by the Currency Exchange, at least one executive or equivalent who

has specific powers to approve the celebration of such Operations, must grant, in

writing, in digital or electronic form, the respective approval. Likewise, for the purposes referred to in

fractions IV and V of the 34th of the Provisions, Currency Exchanges must provide in their Compliance Manual, the mechanisms for their respective Compliance Officers, to have knowledge of

those Users who are classified with a high Risk Grade by the Currency Exchanges themselves, as well

as the procedures that must be carried out to process the approval indicated in this

Provision.

24th.- For each Unusual Operation detected by a Currency Exchange, it must send to the Ministry, through

the Commission, the corresponding report, within three business days following the day on which the session of the Committee that adjudicates it as such concludes. For the purposes of carrying out the adjudication in

question, the Currency Exchange through its Committee, will have a period that will not exceed sixty calendar days counted from when the alert is generated through its system, model, process or by the

employee of the Currency Exchange, whichever occurs first.

...

29th.- For each Concerning Internal Operation detected by a Currency Exchange, it must send to the

Ministry, through the Commission, the corresponding report, within three business days following

the day on which the session of the Committee that adjudicates it as such concludes. For the purposes of carrying out the

adjudication in question, the Currency Exchange through its Committee, will have a period that will not exceed

sixty calendar days counted from when said Currency Exchange detects that Operation, through its

system, model, process or by any employee thereof, whichever occurs first.

...

34th Bis.- The Committee of each Currency Exchange or its board of directors or sole administrator,

as applicable, or general manager, may appoint an official of the Currency Exchange who

interimly will exercise the functions of Compliance Officer, in compliance with its obligations

under these Provisions, for up to ninety calendar days during a calendar year,

counted from when the official designated as Compliance Officer leaves, has their appointment revoked or is

unable to perform the assignment in question.

The official of the Currency Exchange who performs the interim assignment in question, must not have functions

of internal audit in the same.

Currency Exchanges may make effective the interim period referred to in this

Provision, according to the needs of each Currency Exchange.

The Interim Compliance Officer must perform the functions and obligations indicated in the

present Provisions, until the moment when the revocation indicated in fraction II of the

35th of these Provisions is reported.

35th.- ...

I. The full name without abbreviations of the official who has designated as Compliance Officer,

as well as the other information provided in the format indicated, within ten business days

following the date on which the corresponding designation has been made;

II. The revocation of the designation of the Compliance Officer or Interim Compliance Officer who

has been designated in terms of what is established in both the 34th, as well as in the 34th Bis of the present

Provisions, as the case may be, within ten business days following the date on which the same has

occurred, whether by determination of the Currency Exchange, rejection of the assignment, by labor termination or

impossibility, as well as the other information provided in the format indicated, and

III. The full name without abbreviations of the official who has designated as Interim Compliance

Officer in terms of what is established in the 34th Bis of the present Provisions, as well as the other

information provided in the format indicated, within ten business days following the date on which

the same has occurred.

48th Bis. - Currency Exchanges must send to the Commission, within the last ten business days

of the month of April of each year, through electronic means and in the official format for such effect

issued, quantitative information about their operations, channels, type of Users, type of products and

services, as well as the geographic zones where they operate. This information must correspond to the period

from January to December of the year prior to that in which it must be sent, or to the period resulting from the date

on which the Commission grants the registration to operate to the Currency Exchange in question to December of the

respective year.

57th.- ...

Currency Exchanges must adopt and implement mechanisms that allow identifying the

Users who are within the Blocked Persons List, as well as any third party acting on behalf or for the account of the same, and those Operations that they have carried out, carry out or intend to carry out. Such mechanisms must be provided for in the Compliance Manual of the Currency

Exchange.

58th.- ...

I. to VI. ...

VII. Those that appear in the list of taxpayers referred to in the fourth paragraph of

Article 69-B of the Federal Tax Code.

61st.- ...

I. to IV. ...

V. They are in the case of the sixth paragraph of Article 69-B of the Federal Tax Code.

...

Transitional Provisions

First. - This Resolution will enter into force the day following its publication in the Official Journal of

the Federation except for what is provided in the following Transitional Provisions.

Second. - The guidelines, interpretations and criteria issued by the Ministry or by the Commission, based on

what is provided in the Resolution of April 10, 2012 and subsequent Resolutions through

which the General Provisions referred to in Article

95 Bis of the General Law of Credit Organizations and Auxiliary Activities, applicable to Currency

Exchanges referred to in Article 81-A of the same legislation, have been added or amended, will continue to be applicable insofar as they do not conflict with what is established in this Resolution.

Third. - Currency Exchanges will have four months counted from the entry into force of

this Resolution to modify the Compliance Manual and present it to the Commission.

Fourth. - Currency Exchanges must begin to send to the Commission the information referred to in

the 48th Bis that is added in this Resolution, from the date indicated in the

resolution that is issued for such purposes by the Commission.

Fifth. - Currency Exchanges may equate the defined term of Beneficial Owner referred to in

these Provisions to references of beneficial owner that are provided for in other

legal frameworks in matters of prevention of operations with proceeds of illicit origin and

financing of terrorism, as well as in the query databases in charge of the competent

authorities.

Mexico City, January 04, 2023. - The Secretary of Treasury and Public Credit,

Rogelio

Eduardo Ramírez de la O. - Signature.

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CONSULT

BY DATE

Do Mo Tu We Th Fr Sa

INDICATORS

Exchange Rate and Rates as of 27/08/2026

DOLLAR

16.9660 UDIS

8.808255 TIIE 28 DAYS

6.7559% TIIE 91 DAYS

6.7931% TIIE 182 DAYS

6.8474% TIIE DE FONDEO

6.50%

SURVEYS

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