Regulatory Alerts2016-06-07 | DOF 5440155Added · Updated
Resolution modifying the Agreement delegating authority to impose administrative sanctions
The resolution amends Article One of the existing delegation agreement to expand the scope of laws under which the President, Legal Vice President, Director General of Crimes and Sanctions, and Administrative Sanctions Deputy Directors A, B, and C may impose administrative sanctions. This expansion includes specific Mexican financial laws such as the Law for the Regulation of Financial Groups, the Credit Institutions Law, and the Federal Revenue Law for fiscal year 2016. The amended authority applies to infringements related to information requests, illicit funds prevention, and terrorism financing by supervised entities including financial institutions, exchange centers, money transmitters, unregulated multiple-objective financial societies, and investment advisors. The resolution entered into force the day after its publication in the Official Gazette of the Federation on June 7, 2016.
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