Regulatory Alerts2018-02-09 | DOF 5512719Added
Resolution authorizing Grupo Financiero Santander Mexico, S.A. de C.V. to organize as a subsidiary holding company under the Law for the Regulation of Financial Groups
The Ministry of Finance and Public Credit authorizes Grupo Financiero Santander Mexico, S.A. de C.V. to organize as a subsidiary holding company and establishes the constitution and functioning of the corresponding financial group. This authorization permits the merger of Grupo Financiero Santander Mexico, S.A.B. de C.V. into Banco Santander (Mexico), S.A., and defines the new holding company's ownership of more than 50% of the capital of its integrated financial entities, which include Banco Santander (Mexico), S.A., Casa de Bolsa Santander, S.A. de C.V., Santander Consumo, S.A. de C.V., Santander Vivienda, S.A. de C.V., and Santander Inclusión Financiera, S.A. de C.V. The resolution stipulates that the holding company is subject to inspection by the National Banking and Securities Commission and that the authorization is intransmissible.
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