Regulatory Alerts2016-08-15 | DOF 5447912Added
Resolution modifying the authorization for the constitution and operation of a financial group subsidiary controlled by Grupo Financiero Banamex, S.A. de C.V.
The Ministry of Finance and Public Credit fully modifies the authorization for Grupo Financiero Banamex, S.A. de C.V. to operate as a Subsidiary Controlling Company and its affiliated financial group. The resolution updates the list of integrated entities to include Banco Nacional de México, Seguros Banamex, Arrendadora Banamex, Acciones y Valores Banamex, Pensiones Banamex, Acción Banamex, and Afore Banamex. It also stipulates that Citigroup Inc. must own at least 51% of the controlling company's capital and that the controlling company must hold more than 50% of each member entity's capital. Additionally, the resolution suppresses Article Sixth regarding fixed capital amounts to simplify administrative procedures.
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