2019-11-25 | DOF 5579708Added
The resolution amends Article 265 Bis 42, fraction III of the General Provisions applicable to popular savings and credit entities, integration organisms, community financial societies, and rural financial integration organisms. The amendment prohibits these entities from entering into commercial commission contracts with private assistance institutions or pawnshop associations that belong to the same consortium or business group as the society. Previously, such intra-group transactions were exempt from specific restrictions; now they must comply with the regulations set forth in the relevant section of the provisions. This change aims to ensure regulatory oversight over related-party transactions within corporate groups.
DOF: 25/11/2019
RESOLUTION modifying the general provisions applicable to popular savings and credit entities, integration organisms, community financial societies, and rural financial integration organisms, referred to in the Savings and Credit Popular Law.
At the margin a seal with the National Coat of Arms, which reads: United Mexican States.- GOVERNMENT OF MEXICO.-
TREASURY.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.
The National Banking and Securities Commission, prior agreement of its Board of Directors, based on
the provisions of articles 36 Bis 3, first and second paragraphs of the Savings and Credit Popular Law,
as well
as 4, fractions XXXVI and XXXVIII and 16, fraction I of the Law of the National Banking and Securities Commission,
and
CONSIDERING
That it is pertinent to flexibilize the regulatory framework so that popular financial societies and community financial societies can enter into commercial commission contracts with institutions of private assistance and societies or associations that grant loans with pledge guarantee that belong to their same consortium or business group, taking into account that with this facility they will have greater market penetration, efficiency in operational costs, as well as certainty and security in the execution of their operations, while positively impacting financial inclusion, has resolved to issue the following:
RESOLUTION MODIFYING THE GENERAL PROVISIONS APPLICABLE TO POPULAR SAVINGS AND CREDIT ENTITIES, INTEGRATION ORGANISMS, COMMUNITY FINANCIAL SOCIETIES AND RURAL FINANCIAL INTEGRATION ORGANISMS, REFERRED TO IN THE SAVINGS AND CREDIT POPULAR LAW
SOLE ARTICLE.- Article 265 Bis 42, fraction III of the General Provisions applicable to popular savings and credit entities, integration organisms, community financial societies, and rural financial integration organisms, referred to in the Savings and Credit Popular Law, published in the Official Gazette of the Federation on December 18, 2006, modified through Resolutions published in the same Official Gazette on January 18 and August 11, 2008; December 16, 2010; December 18, 2012; January 12, February 6, April 2, September 22, and October 29, 2015; January 7, February 2, April 22, July 11, September 28, and December 27, 2016; March 10, May 31, July 24, and October 6, 2017; January 23 and 26, April 26, October 16, and November 15, 2018, and October 1, 2019, shall be amended to read as follows:
"Article 265 Bis 42.-
...
I. and II.
...
III.
Private assistance institutions and other societies or associations dedicated to the granting of loans with pledge guarantee, including those commonly known as 'pawnshops', except when they form part of the same Consortium or Business Group to which the Popular Financial Society belongs, in which case they must adhere to what is provided in the present section."
TRANSITIONAL PROVISION
SOLE.- This Resolution shall enter into force the day following its publication in the Official Gazette of the Federation.
Respectfully,
Mexico City, November 14, 2019. - The President of the National Banking and Securities Commission, Adalberto Palma Gómez.- Signature.
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