Regulatory Alerts2017-09-01 | DOF 5495904Added
Resolution modifying the authorization for the constitution and operation of a financial group subsidiary controlled by J.P. Morgan Grupo Financiero, S.A. de C.V.
The Ministry of Finance and Public Credit fully modifies the authorization for J.P. Morgan Grupo Financiero, S.A. de C.V. to operate as a subsidiary holding company and financial group. The resolution updates the group's bylaws, confirms J.P. Morgan International Finance Limited as the owner of at least 51% of the subsidiary's capital, and defines the group's composition to include Banco J.P. Morgan and J.P. Morgan Casa de Bolsa. It also removes the fixed minimum capital amount from the authorization text and establishes that the authorization is intransmissible and subject to supervision by the National Banking and Securities Commission.