Regulatory Alerts2015-12-07 | DOF 5418996Added · Updated
Resolution modifying the authorization granted to UBS Grupo Financiero, S.A. de C.V. to constitute itself as a Subsidiary Holding Company and operate as a Financial Group
The Ministry of Finance and Public Credit modifies the authorization granted to UBS Grupo Financiero, S.A. de C.V., allowing it to operate as a Subsidiary Holding Company and a Financial Group. The resolution defines the group's structure, specifying that UBS AG must hold at least 51% of the holding company's capital, which in turn must hold more than 50% of its financial subsidiaries. The financial group comprises UBS Bank México, S.A., and UBS Casa de Bolsa, S.A. de C.V., with UBS Servicios, S.A. de C.V. providing auxiliary services. The authorization is intransmissible, subject to supervision by the National Banking and Securities Commission, and the sixth article regarding fixed capital amounts is suppressed.
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