Resolution modifying the general provisions applicable to investment funds and persons providing services to them — SHCP — MX

DOF: 04/10/2017

RESOLUTION modifying the general provisions applicable to investment funds and to the persons providing services to them

At the margin, a seal with the National Coat of Arms, which says: United Mexican States.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.

The National Banking and Securities Commission, based on the provisions of articles 34, fractions IV and VIII and 40, fourth paragraph of the Investment Funds Law, as well as 4, fractions XXXVI and XXXVIII and 16, fraction I of the National Banking and Securities Commission Law, and

CONSIDERING

That in order for the National Banking and Securities Commission to have the best available information that allows verifying the honorability and satisfactory credit history of possible shareholders, board members, general manager, regulatory controller, and other relevant executives of a fund operating society, a fund distributing society, a fund share valuing society, or a society that administers electronic trading mechanisms for fund shares or the dissemination of information of investment funds, in consistency with what is required by the Investment Funds Law, it is necessary to specify the information that will be required for these effects, which will allow having solid societies and managed under the best quality standards;

That additionally, under current provisions, persons intending to participate in the share capital of a fund operating society, a fund distributing society, or a fund share valuing society, or a society that administers electronic trading mechanisms for fund shares or the dissemination of information of investment funds, must present two credit information reports; the first one, for the documentation attached to the corresponding application, and the second as an annex to the sworn statement regarding their honorability, therefore the presentation of the report in the first case is eliminated and similarly, regarding persons proposed to occupy the positions of board member, general manager, regulatory controller, and other relevant executives, the presentation on two occasions of the criminal record certificate and the registry data report is eliminated, which will result in the simplification of the corresponding procedure, and

That it is considered convenient that persons intending to constitute fund operating societies and fund share distributing societies accompany the corresponding authorization request with the valid certification that the compliance officer to be designated as such must have in terms of the National Banking and Securities Commission Law, in order to contribute to the prevention, detection, and reporting of acts, omissions, or operations that could fall under the provisions of articles 139 Quater or 400 Bis of the Federal Penal Code, has resolved to issue the following:

RESOLUTION MODIFYING THE GENERAL PROVISIONS APPLICABLE TO INVESTMENT FUNDS AND TO THE PERSONS PROVIDING SERVICES TO THEM

SINGLE.- Article 26, fraction V is ADDED and Annexes 13, 14, 15, 16, and 21 of the "General Provisions Applicable to Investment Funds and to the Persons Providing Services to Them," published in the Official Gazette of the Federation on November 24, 2014, and modified by resolutions published in said dissemination organ on December 26, 2014, January 6 and 9, July 23, August 3, September 1 and 18, 2015, January 6, September 28, November 17, and December 27, 2016, and April 14, 2017, are SUBSTITUTED, to read as follows:

TITLES FIRST to EIGHTH

...

Annexes 1 to 12

...

Annex 13

Information format for persons intending to participate in the share capital of a fund operating society, a fund distributing society, or a fund share valuing society, and persons intending to constitute themselves as secured creditors with respect to the paid-in share capital of said societies, as well as for persons intending to participate in the share capital of a society that administers electronic trading mechanisms for fund shares or the dissemination of information of investment funds.

Annex 14

Sworn statement format for persons intending to participate in the share capital of a fund operating society, a fund distributing society, or a fund share valuing society, and persons intending to constitute themselves as secured creditors with respect to the paid-in share capital of said societies.

Annex 15

Curriculum information format for persons proposed to occupy the positions of board member, general manager, regulatory controller, or official within the two immediate hierarchies below the general manager of fund operating societies, fund distributing societies, or fund share valuing societies, and societies that administer electronic trading mechanisms for fund shares or the dissemination of information of investment funds.

Annex 16

Sworn statement formats for persons proposed to occupy the positions of board member, general manager, regulatory controller, or official within the two immediate hierarchies below the general manager of fund operating societies, fund distributing societies, or fund share valuing societies.

Annexes 17 to 20

...

Annex 21

Sworn statement format for persons intending to participate in the share capital of a society that administers electronic trading mechanisms for fund shares or the dissemination of information.

" Article 26 .- ...

I. to IV.

...

Regarding fund operating societies and fund share distributing societies, a copy of the document issued by the Commission, in which the valid certification of the compliance officer to be appointed by the society is stated, obtained in terms of the "General Provisions for the Certification of Independent External Auditors, Compliance Officers, and Other Professionals in Matters of Prevention of Operations with Illicit Proceeds and Terrorism Financing" published in the Official Gazette of the Federation on October 2, 2014, and its respective modifications.

...

... "

TRANSITORY PROVISIONS

FIRST.- This Resolution shall enter into force the day following its publication in the Official Gazette of the Federation.

SECOND.- Procedures and processes initiated prior to the entry into force of this Resolution shall continue to be governed until their final resolution in accordance with the applicable provisions in force at their inception.

Respectfully,

Mexico City, September 15, 2017. - The President of the National Banking and Securities Commission, Jaime González Aguadé.- Signature.

ANNEX 13

INFORMATION FORMAT FOR PERSONS INTENDING TO PARTICIPATE IN THE SHARE CAPITAL OF A FUND OPERATING SOCIETY, A FUND DISTRIBUTING SOCIETY, OR A FUND SHARE VALUING SOCIETY, AND PERSONS INTENDING TO CONSTITUTE THEMSELVES AS SECURED CREDITORS WITH RESPECT TO THE PAID-IN SHARE CAPITAL OF SAID SOCIETIES, AS WELL AS FOR PERSONS INTENDING TO PARTICIPATE IN THE SHARE CAPITAL OF A SOCIETY THAT ADMINisters ELECTRONIC TRADING MECHANISMS FOR FUND SHARES OR THE DISSEMINATION OF INFORMATION OF INVESTMENT FUNDS

Name or possible name of the society.

Date of preparation (dd/mm/yyyy).

This information is part of the application presented to the National Banking and Securities Commission, its content is confidential and will be subject to review and verification.

Filling Instructions.

This format must be duly filled out by:

a)
Persons who, within the authorization request procedure to organize and operate as fund operating societies, fund distributing societies, or fund share valuing societies in terms of what is stated in article 33 of the Law, intend to subscribe two percent or more of the share capital of the society itself.

b)
Persons intending to obtain authorization to acquire directly or indirectly more than five percent of shares representing the share capital of a fund operating society, a fund distributing society, or a fund share valuing society.

c)
Persons intending to obtain authorization to constitute themselves as secured creditors with respect to more than five percent of shares representing the share capital of a fund operating society, a fund distributing society, or a fund share valuing society.

d)
Persons who, within the authorization request procedure to organize and operate as a society that administers electronic trading mechanisms for fund shares or the dissemination of information of investment funds, intend to subscribe two percent or more of the share capital of the society in question.

No blank spaces should be left. In any case, mention: None, No, I don't have, Not applicable.

All names and data required must be expressed in full (e.g., persons with two names).

SECTION 1

PERSONAL IDENTIFICATION DATA

NATURAL PERSONS

First name(s).

Paternal surname.

Maternal surname.

Nationality.

RFC (with homoclave).

CURP.

Address for hearing and receiving notifications

Street and exterior and/or interior number.

Neighborhood.

Delegation or Municipality.

Federal Entity.

Postal code.

Country.

Marital status.

Name of spouse, concubine, or concubine, as well as their economic dependents.

Name of relatives in the ascending and descending line up to the first degree.

IDENTIFICATION DATA

LEGAL ENTITIES, TRUSTS, OR

INVESTMENT VEHICLES

Name or trade name.

Main activity.

Nationality.

RFC (with homoclave).

Date of constitution.

Name of the legal representative.

Profession of the legal representative.

Work background of the legal representative.

Address for hearing and receiving notifications

Street and exterior and/or interior number.

Neighborhood.

Postal code.

Delegation or Municipality.

Federal Entity.

Country.

Name of shareholders or persons who participate with 10% or more of the share capital of the legal entity, or of the trust or investment vehicle's assets. *

Shareholder

(%)

Regarding legal entities, trusts, or other investment vehicles, the direct and indirect participations of natural persons in the capital of these must be related and broken down in a way that allows the identification of the natural persons who are the ultimate beneficiaries of said participations.

Can you invest in societies according to bylaws?

Yes ______

No _____

Has the investment in question been approved by your board of directors?

Yes ______

No _____

Do you have or have you had investment in financial entities?

Yes ______

No _____

Specify: __% equity

Name: __________

SECTION 2

PARTICIPATION OF THE PERSON IN THE FUND OPERATING SOCIETY,

FUND DISTRIBUTING SOCIETY, OR FUND SHARE VALUING SOCIETY,

SOCIETY THAT ADMINISTERS ELECTRONIC TRADING MECHANISMS FOR FUND SHARES

OR THE DISSEMINATION OF INFORMATION OF INVESTMENT FUNDS

Shareholder.

___ % current shareholding.

___ % shareholding after acquisition.

___ % shareholding with which they would participate in the new

entity.

President of the board of directors.

Proprietor board member.

Independent:

Yes

Alternate board member.

Independent:

Yes

Secretary of the board of directors.

General manager.

Legal director.

Finance director.

Commercial director.

Other(s).

Specify: ____________________________________

SECTION 3

PATRIMONIAL RELATIONSHIP

a) Assets and rights.

AMOUNT

(thousands of pesos)

1.- Real estate, of the applicant, their spouse, concubine, or concubine, as well

as their economic dependents.

Total:

2.- Movable property (including motor vehicles, aircraft, and

vessels) of the applicant, their spouse, concubine, or concubine, as well as of

their economic dependents.

Total:

3.- Balances in bank accounts of national or foreign financial entities

(including deposits and debt securities).

Total:

4.- Others, including investments and other types of securities in the share capital of

financial entities or legal entities with profit-making purposes national or

foreign.

4.1.- Specify the name of the financial entity or legal entity:

4.2.- Specify the percentage of shareholding: _______%

Total:

5.- Share participation in the share capital of national or foreign financial entities or legal entities of the applicant, their spouse, concubine, or

concubine, as well as of their economic dependents and relatives by

cognate, affine, or civil up to the first degree.

Total

6.- Sponsorships, courtesies, and donations received by the applicant, their spouse,

concubine, or concubine, as well as of their economic dependents and relatives

by cognate, affine, or civil up to the first degree.

Total

7.- Total assets and rights (gross patrimony).

b) Debts and obligations.

8.- Mortgages, financial obligations, and credits of the applicant, their spouse,

concubine, or concubine, as well as of their economic dependents and relatives

by cognate, affine, or civil up to the first degree.

Total:

9.- Others, including economic and financial interests.

Total:

10.- Total debts and obligations.

11.- Patrimony (Subtract 10 from 7).

12.- Guarantees and sureties granted.

13.- Insurance policies.

14.- Total net income of the

applicant.

Amount

(thousands of pesos).

Main source(s) of income.

Last year 20_ _.

Second to last year 20_ _.

Third to last year 20_ _.

15.- Total net income of the

spouse, concubine, or concubine

and economic dependents of the

applicant.

Amount

(thousands of pesos).

Main source(s) of income.

Last year 20_ _.

Second to last year 20_ _.

Third to last year 20_ _.

16.- Comments and clarifications.

SECTION 4

ORIGIN OF RESOURCES ²

Source.

Entity or person.

Exact amount to

contribute to the

share capital,

price of the

shares or amount

of the obligation for

which the

guarantee is received,

as the case may be.

(%)

Own resources. Specify:

N/A

Others. Specify: (indicate if

they come from credits granted

by national or foreign financial entities.

Total resources:

100 %

Comments and clarifications.

2 / Regarding those persons who constitute themselves as secured creditors on shares representing more than ten percent of the share capital of a fund operating society, a fund distributing society, or a fund share valuing society, the origin of the resources subject to the guaranteed obligation must be indicated.

SECTION 5

POSITIONS OR ACTIVITIES INFORMATION (NATURAL PERSONS)

1.- Positions and offices held in public or private entities by the applicant, their spouse,

concubine, or concubine, as well as their economic dependents and relatives by cognate,

affine, or civil up to the first degree.

2.- Professional or business activities carried out by the applicant, their spouse, concubine, or

concubine, as well as their economic dependents and relatives by cognate, affine, or civil

up to the first degree.

3.- Honorary positions and offices held by the applicant.

4.- Participation in councils and philanthropic activities of the applicant, their spouse, concubine, or

concubine, as well as their economic dependents and relatives by cognate, affine, or civil

up to the first degree.

SECTION 6

ADDITIONAL INFORMATION

If you consider that there is any other relevant information not contemplated in the previous sections,

you must list the information and comment in the following box.

Section.

Information.

SECTION 7

DECLARATIONS AND SIGNATURES

By this document, the undersigned authorizes the National Banking and Securities Commission, regarding the

information provided here, to:

a)
Verify it as deemed pertinent, as well as to obtain from any other authority deemed

convenient information about my person, in connection with the authorization request presented

to said Commission.

b)
Share it on a confidential basis with the National Insurance and Surety Commission, the

National Retirement Savings System Commission, the Bank of Mexico, the Tax Administration

Service, the Attorney General's Office, and other authorities, for the exclusive

fulfillment of their functions.

I confirm that I have carefully read this format and that I understand its content and legal implications.

I understand that providing false data will be grounds for exclusion of the undersigned, without prejudice to the

penalties or legal sanctions that may apply according to the case.

I DECLARE UNDER OATH THAT THE DATA CONTAINED IN THIS

DECLARATION ARE TRUE.

Signature of the person or legal representative

Name

Date

SECTION 8

DOCUMENTS THAT MUST ACCOMPANY THE APPLICATION

NATURAL PERSONS:

Copy of valid official identification (voter credential or valid passport and in the case of

foreign nationals, migratory form or passport).

In its case, copy of the tax identification card.

Copy of the Unique Population Key (CURP).

Copy of the professional card or certificate of studies or of the document that accredits the last degree

of studies achieved.

Patrimonial situation of the last three years.

Report prepared by legal entities that provide auditing or corporate investigation services of recognized prestige,

in the judgment of the National Banking and Securities Commission, on the veracity of the statements

regarding the origin of the resources that make up the patrimony of the person for which the respective documentary support must be at hand. Likewise, documentary evidence related to the referred

origin of the resources must be attached to the authorization request.

Copy of the contract for the provision of auditing or corporate investigation services that the

applicant has celebrated with the legal entity referred to in the previous numeral, which contains

the terms and conditions agreed upon by the parties for the elaboration of the report contained in the

previous numeral, regarding which the National Banking and Securities Commission may require

modifications.

Copy of the annual tax return of the last three fiscal years.

LEGAL ENTITIES:

Certified copy of the current social bylaws.

Copy of the tax identification card.

Copy authenticated by the sole administrator or by the secretary of the board of directors, of

the audited annual financial statements and of the external auditor's report, in case of being

obliged to do so, approved by their administrative body of the last three social years, or

those corresponding in accordance with the date of their constitution.

In its case, copy authenticated by the secretary of the board of directors of the resolution of the

administrative body that approves the subscription and payment of the shares of the society

operating, fund distributing, or fund share valuing society to be constituted or in which it is intended to participate.

Regarding legal entities that are not obliged to audit their financial statements in terms of the applicable

provisions, a report prepared by legal entities that provide auditing or corporate investigation services of recognized prestige, in the

judgment of the National Banking and Securities Commission, on the veracity of the statements

regarding the origin of the resources that make up the patrimony of the person for which the

respective documentary support must be at hand. Likewise, documentary evidence related to the referred origin of the resources must be attached to the authorization request.

Copy of the contract for the provision of auditing or corporate investigation services that the

applicant has celebrated with the legal entity referred to in the previous numeral, which contains

the terms and conditions agreed upon by the parties for the elaboration of the report contained in the

previous numeral.

Copy of the annual tax returns of the last three exercises.

ANNEX 14

SWORN STATEMENT FORMAT FOR PERSONS INTENDING TO PARTICIPATE IN

THE SHARE CAPITAL OF A FUND OPERATING SOCIETY, A FUND

DISTRIBUTING SOCIETY, OR A FUND SHARE VALUING SOCIETY

AND PERSONS

INTENDING TO CONSTITUTE THEMSELVES AS SECURED CREDITORS

WITH RESPECT TO THE PAID-IN SHARE

CAPITAL OF SAID SOCIETIES

PERSONS WHO, WITHIN THE AUTHORIZATION REQUEST PROCEDURE FOR THE

ORGANIZATION AND OPERATION OF FUND OPERATING SOCIETIES,

FUND DISTRIBUTING SOCIETIES, OR FUND SHARE VALUING SOCIETIES, HAVE THE INTENTION TO SUBSCRIBE TWO PERCENT OR MORE OF THE

SHARE CAPITAL OF THAT SOCIETY

SWORN STATEMENT FORMAT FOR NATURAL PERSONS

Mexico City, to

NATIONAL BANKING AND SECURITIES COMMISSION

Present,

The undersigned, ( name of the person signing ), by my own right and with the object of

providing the information that may be necessary in relation to the authorization request [to be presented]

presented to that National Banking and Securities Commission for the organization and functioning of the

fund operating society [fund distributing society of fund shares] [fund share valuing society]

to be named ____________ I declare under oath that the following is true:

That I have a satisfactory credit history according to the credit information report with

the character of special credit report in terms of the Law to Regulate Credit Information Societies, issued by the credit information society named ______, and I am up to date in the fulfillment of my credit obligations, even regarding

credits that have been subject to restructuring. Attached hereto, please find the special credit report of the undersigned, in which that Commission may verify that there is no breach whatsoever of my credit obligations, or, if any warning key exists in this regard, it can be appreciated from the report itself:

a)
The existence of a favorable resolution for the debtor regarding the challenge of the record in question, due to errors attributable to users of credit information societies that are financial entities subject to the supervision of the National Banking and Securities Commission;

b)
The existence of payment of overdue debts as of the date of the inquiry and evidence of sustained payment over a period of 1 year;

c)
Payment of losses caused to a financial entity, regardless of the amount, promoted voluntarily by the borrower, or

d)
The existence of judicial resolutions favorable to the borrowers, in litigation with creditors.

I also declare that I do not have nor have had control, nor do I exercise nor have I exercised command power over an issuing society that has failed to meet its debt securities payment obligations in the securities market.

II.

That I am not nor have I been subject to criminal proceedings for intentional crimes punishable with corporal imprisonment greater than one year, and that, in case I have been so, this concluded with an acquittal judgment.

III.

That I have not been subject to administrative investigation or inquiry procedures before the National Banking and Securities Commission for violations of national or foreign financial laws, or before other Mexican supervisory and regulatory institutions of the financial system or of other countries, or that having been so, these concluded with a final and definitive resolution or agreement/convention in which my exoneration was expressly determined.

IV.

That I have not been declared in civil or commercial bankruptcy, or that even if I had been, this was terminated by the causes indicated in fractions I, II or V of article 262 of the Mercantile Bankruptcy Law or, in the case of civil bankruptcy, by having paid in full to the creditors or entered into an agreement with them, in terms of local laws.

That I am or have been a subject or party in processes before common or federal jurisdictional bodies, criminal investigations, as well as any other procedure, even in other countries, individually and, where applicable, in my capacity as legal representative, councilor, official, employee or commissioner of some legal entity, which are indicated below: (1)

Type of procedure.
Body before whom the procedure is carried out.
Capacity in which I intervened.
Status of the procedure, including start date and, where applicable, conclusion.
Sense of the final resolution, where applicable.

VI.

That I have not been a shareholder, councilor, auditor, general director or relevant executive in a legal entity to which the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Bonding Commission or the National Retirement Savings System Commission, have denied the concession, authorization or registration, nor has authorization been denied to me to acquire shares representing the social capital of societies supervised by said National Commissions.

VII.

That I have not been a shareholder, councilor, auditor or relevant executive in a financial entity whose concession or authorization has been revoked, or registration cancelled, nor has authorization been denied to me to acquire shares representing the social capital of societies that enjoy the concession, authorization or registration of the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Bonding Commission or the National Retirement Savings System Commission.

The undersigned authorizes the National Banking and Securities Commission to, where applicable, verify before Mexican financial entities, credit information societies, the Institute for the Protection of Bank Deposits and any other competent authority, the truthfulness of the declarations contained in this writing, regarding any type of operations, in terms and with the scope referred to in articles 142 of the Credit Institutions Law, 192 and 295 of the Securities Market Law, 55 of the Investment Funds Law and others that are applicable.

Likewise, I authorize the aforementioned Commission, the National Banking and Securities Commission, for during the time that I serve as a shareholder of the investment fund operating company, investment fund share distribution company or investment fund share valuation company corresponding to the matter at hand, or maintain in guarantee shares representing its social capital, in case said Commission finds out by any means that I ceased to meet the conditions of fractions I to IV and VI and VII above, or has news that I am in a process before any jurisdictional body, verify and request the necessary corresponding information.

The declarations under oath of truthfulness contained in this document are made for the purpose that that National Banking and Securities Commission has elements of judgment to evaluate the honorability and satisfactory credit history and business history of the undersigned and to determine, where applicable, in exercise of the discretionary power conferred by article 34, fraction IV and second paragraph of the Investment Funds Law to that authority, whether it is prudent and opportune that he participates as a shareholder in the social capital of the investment fund operating company [investment fund share distribution company] [investment fund share valuation company] to be named ___________ with the proposed [to be proposed] shareholding percentages in the authorization application we occupy.

Sincerely,

(Name and signature of the interested party)

Filling Instructions:

1.
Fill in all blank spaces and provide the information indicated in parentheses, as appropriate.

2.
Attach the credit information report with the character of special credit report in terms of the Law to Regulate Credit Information Societies. In case persons have not resided in national territory during a period of six years prior to the date of the authorization request, the equivalent document to the credit information report issued in their country of residence must be presented. The referenced documents must have an issue date not older than three months prior to the date of such request.

3.
In the event that the interested party is unable to make any of the declarations referred to in fractions I to IV of this letter, they must express in the corresponding numeral that circumstance, detailing the facts, acts and reasons that prevent them or why they do not fit the referred conditions.

4.
In case the person has caused loss, damage or patrimonial detriment, directly or through an intermediary person, to the detriment of financial entities due to non-compliance with obligations at their charge or discounts, forgivenesses or discounts received regarding credits, unless these had been under general programs implemented by the financial entities themselves or the Federal Government, the interested party must declare said situation, indicating the terms and characteristics of the credit in question, with indication of the lending entity, as well as a detailed description of the circumstances under which the loss, damage or patrimonial detriment occurred. For these purposes, it will be understood that a natural person acted through the interposition of a legal entity, when the former has or has had control of the latter, or when exercises or has exercised command power with respect to the society or association in question.

5.
In case the person has caused loss, damage or patrimonial detriment to the detriment of issuers in the securities market in which they exercise or have exercised control or have or have had command power, due to non-compliance with payment obligations contracted with them, the interested party must declare said situation, indicating the terms and characteristics of the operation in question, with indication of the issuing society, as well as a detailed description of the circumstances under which the loss, damage or patrimonial detriment occurred.

6.
In case the person has been a shareholder, councilor, auditor, general director or relevant executive in a legal entity to which the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Bonding Commission or the National Retirement Savings System Commission, have denied the concession, authorization, registration; their concession or authorization has been revoked, or registration cancelled, or authorization has been denied to acquire shares representing the social capital of said legal entities, they must declare said situation, indicating a detailed description of the circumstances under which the concession, authorization, registration was revoked, cancelled or denied, or the authorization to acquire shares of the social capital.

7.
Accompany a document issued by a legal entity of recognized prestige in the judgment of the National Banking and Securities Commission, which provides legal services and in which the information indicated in the previous fraction V is stated, attesting that it had the supporting documentation for it, in case a procedure has been declared.

8.
Attach a copy of the legal services contract that the applicant has celebrated with the legal entity referred to in the previous numeral, which contains the terms and conditions agreed between the parties for the issuance of the document contained in the previous numeral, regarding which the National Banking and Securities Commission may require modifications.

9.
Attach your curriculum vitae in which the reasons or causes for the termination of labor relations presented in that information are detailed.

10.
Attach the registry data report issued by the Attorney General's Office of the Republic or the General Prosecutor's Office that replaces it, as well as the certificate of no criminal records issued by the Justice Prosecutor's Office or the State Prosecutor's Office of the place of residence and of the State where the main business seat is located. In case of persons residing in Mexico City, the certificate of no criminal records will be that issued by the Ministry of the Interior through the National Security Commission, and for persons who do not reside or have not resided in national territory for a period greater than three months, in substitution of the mentioned report and letter, they must present the equivalent documents to those previously mentioned, issued in the country of their residence. In the event that, to process the documents referred to in this numeral, the interested persons require a formal petition issued by the Commission, they must request it in writing to said Commission.

B.
FORMAT OF PROTEST LETTER FOR LEGAL ENTITIES

Mexico City, on

NATIONAL BANKING AND SECURITIES COMMISSION

Present,

(Denomination or trade name of the legal entity), through its representative (name of the legal representative), personality accredited through power contained in (data of the deed and its inscription in the Public Registry of Commerce), declares under oath of truthfulness and with the object of providing the information that proves necessary in relation to the authorization request presented [to be presented] before that National Banking and Securities Commission for the organization and functioning of the investment fund operating company [investment fund share distribution company] [investment fund share valuation company] to be named ____________ the following:

That it enjoys a satisfactory credit history according to the credit information report with the character of special credit report in terms of the Law to Regulate Credit Information Societies, issued by the credit information society named______, and is up to date in the fulfillment of its credit obligations, including regarding credits that have been subject to restructuring. Attached hereto, please find the special credit report in which that Commission may verify that there is no breach whatsoever of its credit obligations, or, if any warning key exists in this regard, it can be appreciated from the report itself:

b)
The existence of payment of overdue debts as of the date of the inquiry and evidence of sustained payment over a period of 1 year;

c)
Payment of losses caused to a financial entity, regardless of the amount, promoted voluntarily by the borrower, or

d)
The existence of judicial resolutions favorable to the borrowers, in litigation with creditors.

We likewise declare that our represented party has not failed to meet its debt securities payment obligations in the securities market, nor does it exercise nor has it exercised command power over an issuing society that has done so.

II.

That it has not been subject to administrative investigation or inquiry procedures before the National Banking and Securities Commission for violations of national or foreign financial laws, or before other Mexican supervisory and regulatory institutions of the financial system or of other countries, or that having been so, these concluded with a final and definitive resolution or agreement/convention in which its exoneration was expressly determined.

III.

That it has not been declared in civil or commercial bankruptcy, or that even if it had been, this was terminated by the causes indicated in fractions I, II or V of article 262 of the Mercantile Bankruptcy Law, or, in the case of civil bankruptcy, by having paid in full to the creditors or entered into an agreement with them, in terms of local laws.

IV.

That it is or has been a subject or party in processes before common or federal jurisdictional bodies, criminal investigations, as well as any other procedure, which are indicated below: (2)

That it has not been a shareholder of a legal entity to which the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Bonding Commission or the National Retirement Savings System Commission, have denied the concession, authorization or registration.

VI.

That it has not been a shareholder of a financial entity whose concession, authorization or registration has been revoked by the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Bonding Commission or the National Retirement Savings System Commission.

The undersigned on behalf of its represented party authorizes the National Banking and Securities Commission to, where applicable, verify before Mexican financial entities, credit information societies, the Institute for the Protection of Bank Deposits and any competent authority, the truthfulness of the declarations contained in this writing, regarding any type of operations, in terms and with the scope referred to in articles 142 of the Credit Institutions Law, 192 and 295 of the Securities Market Law, 55 of the Investment Funds Law and others that are applicable.

Likewise, I authorize said Commission for during the time that my represented party serves as a shareholder of the investment fund operating company, investment fund share distribution company or investment fund share valuation company of the matter at hand, or maintains in guarantee shares representing its social capital, in case said Commission finds out by any means that it ceased to meet the conditions of fractions I to III and V and VI above, or has news that it is in a process before any jurisdictional body, verify and request the corresponding information.

The declarations under oath of truthfulness contained in this document are made for the purpose that that National Banking and Securities Commission has elements of judgment to evaluate the honorability and satisfactory credit history and business history of my represented party and to determine, where applicable, in exercise of the discretionary power conferred by article 34, fraction IV and second paragraph of the Investment Funds Law to that authority, whether it is prudent and opportune that it participates as a shareholder in the social capital of the investment fund operating company, distribution company or valuation company of investment fund shares to be named ___________ with the proposed shareholding percentages in the authorization application we occupy.

Sincerely,

(Name and signature of the legal representative)

(Denomination or trade name of the legal entity)

Filling Instructions:

1.
Fill in all blank spaces and provide the information indicated in parentheses, as appropriate.

2.
Attach the credit information report with the character of special credit report in terms of the Law to Regulate Credit Information Societies, with an issue date not older than three months prior to the date of request.

3.
In the event that the interested party is unable to make any of the declarations referred to in fractions I to III of this letter, they must express in the corresponding numeral that circumstance, detailing the facts, acts and reasons that prevent them or why they do not fit the referred conditions.

For these purposes, it will be understood that a legal entity acted through the interposition of another legal entity, when the first has or has had control of the second, or when exercises or has exercised command power with respect to the society or association in question.

5.
In case the person has caused loss, damage or patrimonial detriment to the detriment of issuing societies in the securities market in which they exercise or have exercised control or have or have had command power, due to non-compliance with payment obligations contracted with them, the interested party must declare said situation, indicating the terms and characteristics of the operation in question, with indication of the issuing society, as well as a detailed description of the circumstances under which the loss, damage or patrimonial detriment occurred.

6.
In case the person has been a shareholder in a legal entity to which the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Bonding Commission or the National Retirement Savings System Commission have denied the concession, authorization or registration, or their concession has been revoked, they must declare said situation, indicating a detailed description of the circumstances under which the concession, authorization or registration was revoked or denied.

7.
Accompany a document issued by a legal entity of recognized prestige in the judgment of the National Banking and Securities Commission, which provides legal services and in which the information indicated in the previous fraction IV is stated, attesting that it had the supporting documentation for it, in case a procedure has been declared.

II.
PERSONS SEEKING TO OBTAIN AUTHORIZATION TO ACQUIRE DIRECTLY OR INDIRECTLY MORE THAN FIVE PERCENT OF SHARES REPRESENTATIVE OF THE SOCIAL CAPITAL OF AN INVESTMENT FUND OPERATING COMPANY, DISTRIBUTION COMPANY OR VALUATION COMPANY OF INVESTMENT FUND SHARES

A.
FORMAT OF PROTEST LETTER FOR INDIVIDUALS

Mexico City, on

NATIONAL BANKING AND SECURITIES COMMISSION

Present,

The undersigned, (name of the person signing), by my own right and with the object of providing the information that proves necessary in relation to the authorization request presented [to be presented] before that National Banking and Securities Commission to acquire directly or indirectly more than five percent of shares representing the social capital of the investment fund operating company [investment fund share distribution company] [investment fund share valuation company] named____________, I declare under oath of truthfulness the following:

That I enjoy a satisfactory credit history according to the credit information report with the character of special credit report in terms of the Law to Regulate Credit Information Societies,

Credit Information, issued by the credit information society named _____, and I am current in the fulfillment of my credit obligations, including regarding credits that have been subject to restructuring. Attached hereto, please find the special credit report of the undersigned, in which that Commission may verify that there is no default on my credit obligations, or, if there is any prevention key in that regard, the report itself shows:

b)
The existence of payment of overdue debts as of the date of the inquiry and evidence of sustained payment over a period of 1 year;

c)
Payment of losses caused to a financial entity, regardless of the amount, promoted voluntarily by the borrower, or

d)
The existence of judicial resolutions favorable to the borrowers, in litigation with creditors.

Similarly, I declare that I do not have nor have I had control, nor do I exercise nor have I exercised command power over an issuing society that has defaulted on its debt securities payment obligations in the securities market.

II.

That I have not been nor have I been subject to criminal proceedings for intentional crimes punishable by imprisonment of more than one year, and that, in the event I have been, this concluded with an acquittal.

III.

That I have not been subject to administrative investigation or inquiry proceedings before the National Banking and Securities Commission for violations of national or foreign financial laws, or before other Mexican supervisory and regulatory institutions of the financial system or of other countries, or that, having been so, these concluded with a final and definitive resolution or agreement/convention in which my exoneration was expressly determined.

IV.

That I have not been declared in civil or commercial bankruptcy, or that even if I had been, it was terminated by the causes indicated in fractions I, II or V of article 262 of the Commercial Bankruptcy Law, or, in the case of civil bankruptcy, by having paid creditors in full or entered into an agreement with them, in accordance with local laws.

That I am or have been a subject or party in proceedings before common or federal jurisdictional bodies, criminal investigations, as well as any other procedure, even in other countries, individually and, where applicable, in my capacity as legal representative, councilor, official, employee or broker of any legal entity, which are indicated below: (3)

Type of procedure.
Body before which the procedure is carried out.
Capacity in which I intervened.
Status of the procedure, including start date and, where applicable, conclusion.
Outcome of the final resolution, where applicable.

VI.

That I have not been a shareholder, councilor, commissioner, general director or relevant executive in a legal entity to which the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Surety Commission or the National Retirement Savings System Commission have denied the concession, authorization or registration, nor has authorization been denied to me to acquire shares representing the social capital of societies supervised by said National Commissions.

VII.

That I have not been a shareholder, councilor, commissioner or relevant executive in a financial entity whose concession or authorization has been revoked, or registration cancelled, nor has authorization been denied to me to acquire shares representing the social capital of societies that enjoy the concession, authorization or registration of the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Surety Commission or the National Retirement Savings System Commission.

The undersigned authorizes the National Banking and Securities Commission to verify, where applicable, before Mexican financial entities, credit information societies, the Bank Insurance Protection Institute and any competent authority, the truthfulness of the declarations contained in this document, regarding any type of operations, in terms and with the breadth referred to in articles 142 of the Credit Institutions Law, 192 and 295 of the Securities Market Law, 55 of the Investment Funds Law and others that are applicable.

Likewise, I authorize the said Commission to, during the time I serve as a shareholder of an investment fund operating society, investment fund share distributing society or investment fund share valuing society in question, or if I maintain in guarantee shares representing its social capital, in the event that said Commission learns by any means that I ceased to meet the conditions of fractions I to IV and VI and VII above, or has news that I am in a process before any jurisdictional body, verify and request the corresponding information.

The declarations under oath of telling the truth contained in this document are made for the purpose of allowing that National Banking and Securities Commission to have elements of judgment to evaluate the honorability and satisfactory credit and business history of the undersigned and to determine, where applicable, in the exercise of the discretionary power conferred by article 34, fraction IV and second paragraph of the Investment Funds Law to that authority, whether it is prudent and opportune to acquire directly or indirectly more than five percent of shares representing the social capital of the investment fund operating society, distributing society or investment fund share valuing society named ____________, with the proposed [to be proposed] shareholding percentages in the authorization request we occupy.

Sincerely,

(Name and signature of the interested party)

Filling Instructions:

1.
Fill in the blanks and provide the information indicated in parentheses, as appropriate.

2.
Attach the credit information report with the character of special credit report in terms of the Law to Regulate Credit Information Societies. In the event that persons have not resided in national territory during a period of six years prior to the date of the authorization request, the equivalent document to the credit information report issued in their country of residence must be presented. The referred documents must have an issuance date no more than three months prior to the date of said request.

3.
In the event that the interested party is not able to make any of the declarations referred to in fractions I to IV of this letter, they must express in the corresponding numeral that circumstance, detailing the facts, acts and reasons that prevent them or for which they do not fit the referred conditions.

4.
In the event that the person has caused loss, damage or financial detriment, directly or through an intermediary person, to the detriment of financial entities due to non-compliance with obligations on their part or of discounts, forgiveness or discounts received regarding credits, unless these had been under general programs implemented by the financial entities themselves or the Federal Government, the interested party must declare such situation, indicating the terms and characteristics of the credit in question, with indication of the lending entity, as well as a detailed description of the circumstances under which the loss, damage or financial detriment occurred.

For the purposes of the above, it will be understood that a natural person acted through the interposition of a legal entity, when the former has or has had control of the latter, or when it exercises or has exercised command power with respect to the society or association in question.

5.
In the event that the person has caused loss, damage or financial detriment to the detriment of issuing societies in the securities market in which they exercise or have exercised control or have or have had command power, due to non-compliance with payment obligations contracted with them, the interested party must declare such situation, indicating the terms and characteristics of the operation in question, with indication of the issuing society, as well as a detailed description of the circumstances under which the loss, damage or financial detriment occurred.

6.
In the event that the person has been a shareholder, councilor, commissioner, general director or relevant executive in a legal entity to which the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Surety Commission or the National Retirement Savings System Commission have denied the concession, authorization, registration, have revoked the concession or authorization, or cancelled the registration, or have denied authorization to acquire shares representing the social capital of said legal entities, they must declare such situation, indicating a detailed description of the circumstances under which the concession, authorization, registration or authorization to acquire shares of the social capital was revoked or denied.

7.
Accompany a document issued by a legal entity of recognized prestige in the judgment of the National Banking and Securities Commission, which provides legal services and in which the information indicated in the previous fraction V is stated, noting that it had the supporting documentation for it in case a procedure was declared.

8.
Attach a copy of the legal services contract that the applicant has entered into with the legal entity referred to in the previous numeral, which contains the terms and conditions agreed between the parties for the issuance of the document contained in the previous numeral, regarding which the National Banking and Securities Commission may require modifications.

9.
Attach your curriculum vitae in which the reasons or causes for the termination of the labor relationships presented in that information are detailed.

10.
Attach the registry data report issued by the Attorney General's Office of the Republic or the General Prosecutor's Office that replaces it, as well as the criminal record letter issued by the State Attorney General's Office or the Prosecutor's Office of the place of residence and the State where the main business seat is located. In the case of persons residing in Mexico City, the criminal record letter will be that issued by the Ministry of the Interior through the National Security Commission, and for persons who do not reside or have not resided in national territory for a period greater than three months, in substitution of the aforementioned report and letter, they must present the equivalent documents to those previously indicated, issued in their country of residence. In the event that, to process the documents referred to in this numeral, the interested parties require a formal petition issued by the Commission, they must request it in writing to the said Commission.

B.
FORMAT OF SWORN STATEMENT LETTER FOR LEGAL ENTITIES

Mexico City, on

NATIONAL BANKING AND SECURITIES COMMISSION

Present,

( Name or corporate name of the legal entity ), through its representative ( name of the legal representative ), personality accredited through power contained in ( data of the deed and its registration in the Public Commerce Registry ), declares under oath of telling the truth and with the object of providing the information that may be necessary in relation to the authorization request presented [to be presented] before that National Banking and Securities Commission to acquire directly or indirectly more than five percent of shares representing the social capital of the investment fund operating society [investment fund share distributing society] [investment fund share valuing society] named ____________, the following:

That it enjoys a satisfactory credit history according to the credit information report with the character of special credit report in terms of the Law to Regulate Credit Information Societies, issued by the credit information society named _____, and is current in the fulfillment of its credit obligations, including regarding credits that have been subject to restructuring. Attached hereto, please find the special credit report in which that Commission may verify that there is no default on its credit obligations, or, if there is any prevention key in that regard, the report itself shows:

b)
The existence of payment of overdue debts as of the date of the inquiry and evidence of sustained payment over a period of 1 year;

c)
Payment of losses caused to a financial entity, regardless of the amount, promoted voluntarily by the borrower, or

d)
The existence of judicial resolutions favorable to the borrowers, in litigation with creditors.

Similarly, we declare that our represented party has not defaulted on its debt securities payment obligations in the securities market, nor does it exercise nor has it exercised command power over an issuing society that has done so.

II.

That it has not been subject to administrative investigation or inquiry proceedings before the National Banking and Securities Commission for violations of national or foreign financial laws, or before other Mexican supervisory and regulatory institutions of the financial system or of other countries, or that, having been so, these concluded with a final and definitive resolution or agreement/convention in which its exoneration was expressly determined.

III.

That it has not been declared in civil or commercial bankruptcy, or that even if it had been, it was terminated by the causes indicated in fractions I, II or V of article 262 of the Commercial Bankruptcy Law, or, in the case of civil bankruptcy, by having paid creditors in full or entered into an agreement with them, in accordance with local laws.

IV.

That it is or has been a subject or party in proceedings before common or federal jurisdictional bodies, criminal investigations, as well as any other procedure, which are indicated below: (4)

Type of procedure.
Body before which the procedure is carried out.
Capacity in which it intervened.
Status of the procedure, including start date and, where applicable, conclusion.
Outcome of the final resolution, where applicable.

That it has not been a shareholder of a legal entity to which the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Surety Commission or the National Retirement Savings System Commission have denied the concession, authorization or registration.

VI.

That it has not been a shareholder of a financial entity whose concession, authorization or registration has been revoked by the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Surety Commission or the National Retirement Savings System Commission.

The undersigned on behalf of its represented party authorizes the National Banking and Securities Commission to verify, where applicable, before Mexican financial entities, credit information societies and any competent authority, the truthfulness of the declarations contained in this document, regarding any type of operations, in terms and with the breadth referred to in articles 142 of the Credit Institutions Law, 192 and 295 of the Securities Market Law, 55 of the Investment Funds Law and others that are applicable.

Likewise, I authorize the said Commission to, during the time my represented party serves as a shareholder of an investment fund operating society, investment fund share distributing society or investment fund share valuing society in question, or if it maintains in guarantee shares representing its social capital, in the event that said Commission learns by any means that it ceased to meet the conditions of fractions I to III and V and VI above, or has news that it is in a process before any jurisdictional body, verify and request the corresponding information.

The declarations under oath of telling the truth contained in this document are made for the purpose of allowing that National Banking and Securities Commission to have elements of judgment to evaluate the honorability and satisfactory credit and business history of my represented party and to determine, where applicable, in the exercise of the discretionary power conferred by article 34, fraction IV and second paragraph of the Investment Funds Law to that authority, whether it is prudent and opportune to acquire directly or indirectly more than five percent of shares representing the social capital of the investment fund operating society, distributing society or investment fund share valuing society named ____________, with the proposed [to be proposed] shareholding percentages in the authorization request we occupy.

Sincerely,

(Name and signature of the legal representative)

(Name or corporate name of the legal entity)

Filling Instructions:

1.
Fill in the blanks and provide the information indicated in parentheses, as appropriate.

2.
Attach the credit information report, with the character of special credit report in terms of the Law to Regulate Credit Information Societies, with an issuance date no more than three months prior to the date of the request.

3.
In the event that the interested party is not able to make any of the declarations referred to in fractions I to III of this letter, they must express in the corresponding numeral that circumstance, detailing the facts, acts and reasons that prevent them or for which they do not fit the referred conditions.

6.
In the event that the person has been a shareholder in a legal entity to which the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Surety Commission or the National Retirement Savings System Commission have denied the concession, authorization or registration, or have revoked it, they must declare such situation, indicating a detailed description of the circumstances under which the concession, authorization or registration was revoked or denied.

7.
Accompany a document issued by a legal entity of recognized prestige in the judgment of the National Banking and Securities Commission, which provides legal services and in which the information indicated in the previous fraction IV is stated, noting that it had the supporting documentation for it in case a procedure was declared.

III.
PERSONS SEEKING AUTHORIZATION TO CONSTITUTE THEMSELVES AS SECURED CREDITORS REGARDING MORE THAN FIVE PERCENT OF SHARES REPRESENTING THE SOCIAL CAPITAL OF AN INVESTMENT FUND OPERATING SOCIETY, DISTRIBUTING SOCIETY OR INVESTMENT FUND SHARE VALUING SOCIETY

A.
FORMAT OF SWORN STATEMENT LETTER FOR NATURAL PERSONS

Mexico City, on

NATIONAL BANKING AND SECURITIES COMMISSION

Present,

The undersigned, ( name of the person signing ), by my own right and with the object of providing the information that may be necessary in relation to the authorization request presented [to be presented] before that National Banking and Securities Commission to constitute myself as a secured creditor over shares representing more than five percent of the social capital of an investment fund operating society [investment fund share distributing society] [investment fund share valuing society], I declare under oath of telling the truth the following:

That I enjoy a satisfactory credit history according to the credit information report with the character of special credit report in terms of the Law to Regulate Credit Information Societies, issued by the credit information society named _____, and I am current in the fulfillment of my credit obligations, including regarding credits that have been subject to restructuring. Attached hereto, please find the special credit report in which that Commission may verify that there is no default on my credit obligations, or, if there is any prevention key in that regard, the report itself shows:

b)
The existence of payment of overdue debts as of the date of the inquiry and evidence of sustained payment over a period of 1 year;

c)
Payment of losses caused to a financial entity, regardless of the amount, promoted voluntarily by the borrower, or

d)
The existence of judicial resolutions favorable to the borrowers, in litigation with creditors.

II.

III.

IV.

VI.

VII.

Sincerely,

(Name and signature of the interested party)

Filling Instructions:

1.
Fill in the blanks and provide the information indicated in parentheses, as appropriate.

7.
Accompany a document issued by a legal entity of recognized prestige in the judgment of the National Banking and Securities Commission, which provides legal services and in which the information indicated in the previous fraction V is stated, noting that it had the supporting documentation for it in case a procedure was declared.

9.
Attach your curriculum vitae in which the reasons or causes for the termination of the labor relationships presented in that information are detailed.

B.
FORMAT OF SWORN STATEMENT LETTER FOR LEGAL ENTITIES

Mexico City, on

NATIONAL BANKING AND SECURITIES COMMISSION

Present,

That it enjoys a satisfactory credit history according to the credit information report with the character of special credit report in terms of the Law to Regulate Credit Information Societies, issued by the credit information society named _____, and is current in the fulfillment of its credit obligations, including regarding credits that have been subject to restructuring. Attached hereto, please find the special credit report in which that Commission may verify that there is no default on its credit obligations, or, if there is any prevention key in that regard, the report itself shows:

b)
The existence of payment of overdue debts as of the date of the inquiry and evidence of sustained payment over a period of 1 year;

c)
Payment of losses caused to a financial entity, regardless of the amount, promoted voluntarily by the borrower, or

d)
The existence of judicial resolutions favorable to the borrowers, in litigation with creditors.

II.

III.

IV.

That it is or has been a subject or party in proceedings before common or federal jurisdictional bodies, criminal investigations, as well as any other procedure, which are indicated below: (4)

That it has not been a shareholder of a legal entity to which the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Surety Commission or the National Retirement Savings System Commission have denied the concession, authorization or registration.

VI.

That it has not been a shareholder of a financial entity whose concession, authorization or registration has been revoked by the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Surety Commission or the National Retirement Savings System Commission.

The declarations under oath of telling the truth contained in this document are made for the purpose of allowing that National Banking and Securities Commission to have elements of judgment to evaluate the honorability and satisfactory credit and business history of my represented party and to determine, where applicable, in the exercise of the discretionary power conferred by article 34, fraction IV and second paragraph of the Investment Funds Law to that authority, whether it is prudent and opportune to acquire directly or indirectly more than five percent of shares representing the social capital of the investment fund operating society, distributing society or investment fund share valuing society named ____________, with the proposed [to be proposed] shareholding percentages in the authorization request we occupy.

Sincerely,

(Name and signature of the legal representative)

(Name or corporate name of the legal entity)

Filling Instructions:

1.
Fill in the blanks and provide the information indicated in parentheses, as appropriate.

7.
Accompany a document issued by a legal entity of recognized prestige in the judgment of the National Banking and Securities Commission, which provides legal services and in which the information indicated in the previous fraction IV is stated, noting that it had the supporting documentation for it in case a procedure was declared.

A.
FORMAT OF SWORN STATEMENT LETTER FOR NATURAL PERSONS

Mexico City, on

NATIONAL BANKING AND SECURITIES COMMISSION

Present,

b)
The existence of payment of overdue debts as of the date of the inquiry and evidence of sustained payment over a period of 1 year;

c)
Payment of losses caused to a financial entity, regardless of the amount, promoted voluntarily by the borrower, or

d)
The existence of judicial resolutions favorable to the borrowers, in litigation with creditors.

b)
The existence of payment of overdue debts as of the date of the inquiry and evidence of sustained payment over a 1-year period;

c)
Payment of losses caused to a financial entity, regardless of the amount, voluntarily promoted by the accredited party, or

d)
The existence of judicial resolutions favorable to the accredited parties, in litigation with creditors.

I also declare that I do not have nor have I had control, nor do I exercise nor have I exercised command power over an issuing society that has defaulted on its debt securities payment obligations in the securities market.

II.

That I have not been nor have I been subject to criminal proceedings for an intentional crime punishable by imprisonment of more than one year, and that, in the event I have been, it concluded with an acquittal.

III.

That I have not been subject to administrative investigation or inquiry proceedings before the National Banking and Securities Commission for violations of national or foreign financial laws, or before other Mexican supervisory and regulatory institutions of the financial system or of other countries, or that, having been, these concluded with a final and definitive resolution or agreement/convention in which my exoneration was expressly determined.

IV.

That I have not been declared in civil or commercial bankruptcy, or that even if I had been, it was terminated due to the causes indicated in sections I, II, or V of article 262 of the Commercial Bankruptcy Law, or, regarding civil bankruptcy, by having paid creditors in full or entered into an agreement with them, in accordance with local laws.

That I am or have been a subject or party in proceedings before common or federal jurisdictional bodies, criminal investigations, as well as any other procedure, even in other countries, individually and, where applicable, in my capacity as legal representative, board member, official, employee, or agent of any legal entity, which are indicated below: (5)

| Type of procedure. | Body before which the procedure is carried out. | Capacity in which I intervened. | Status of the procedure, including start date and, where applicable, conclusion. | Sense of the final resolution, where applicable. |

VI.

That I have not been a shareholder, board member, auditor, general manager, or relevant executive in a legal entity to which the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Surety Commission, or the National Retirement Savings System Commission, have denied the concession, authorization, or registration, nor has authorization been denied to me to acquire shares representing the social capital of societies supervised by said National Commissions.

VII.

That I have not been a shareholder, board member, auditor, or relevant executive in a financial entity whose concession or authorization has been revoked, or registration canceled, nor has authorization been denied to me to acquire shares representing the social capital of societies that enjoy the concession, authorization, or registration of the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Surety Commission, or the National Retirement Savings System Commission.

The undersigned authorizes the National Banking and Securities Commission to verify, where applicable, before Mexican financial entities, credit information societies, the Bank Insurance Protection Institute, and any competent authority, the truthfulness of the declarations contained in this document, regarding any type of operation, in terms and with the breadth referred to in articles 142 of the Credit Institutions Law, 192 and 295 of the Securities Market Law, 55 of the Investment Funds Law, and other applicable provisions.

Likewise, I authorize said Commission to, during the time my represented party serves as a shareholder of the investment fund operator society, investment fund share distributor society, and investment fund share valuer society in question, or maintains in guarantee shares representing its social capital, in the event that said Commission learns by any means that I ceased to meet the conditions of sections I to IV and VI and VII above, or has news that I am in a process before any jurisdictional body, verify and request the corresponding information.

The declarations under oath of telling the truth contained in this document are made for the purpose that that National Banking and Securities Commission has elements of judgment to evaluate the honorability and satisfactory credit and business history of the undersigned and to determine, where applicable, in the exercise of the discretionary power conferred by article 34, section IV and second paragraph of the Investment Funds Law on that authority, whether it is prudent and opportune to constitute me as a secured creditor on shares with respect to more than five percent of the social capital of the investment fund operator society, distributor, or investment fund share valuer society named ____________, with the proposed [to be proposed] share percentages in the authorization application we are addressing.

Sincerely,

(Name and signature of the interested party)

Filling Instructions:

1.
Fill in the blanks and provide the information indicated in parentheses, as appropriate.

2.
Attach the Credit Information Report, with the character of special credit report in terms of the Law to Regulate Credit Information Societies. In the event that persons have not resided in national territory during a period of six years prior to the date of the authorization request, the equivalent document to the credit information report issued in their country of residence must be presented. The referred documents must have an issuance date no more than three months prior to the date of said request.

3.
In the event that the interested party is unable to formulate any of the declarations referred to in sections I to IV of this letter, they must express in the corresponding number this circumstance, detailing the facts, acts, and reasons that prevent them or for which they do not fit the referred conditions.

4.
In the event that the person has caused loss, damage, or patrimonial detriment, directly or through an intermediary person, to the detriment of financial entities due to non-compliance with obligations under their charge or of discounts, forgiveness, or discounts received regarding credits, unless these were under general programs implemented by the financial entities themselves or the Federal Government, the interested party must declare this situation, indicating the terms and characteristics of the credit in question, with indication of the lending entity, as well as a detailed description of the circumstances under which the loss, damage, or patrimonial detriment occurred.

5.
In the event that the person has caused loss, damage, or patrimonial detriment to the detriment of issuing societies in the securities market in which they exercise or have exercised control or have or have had command power, due to non-compliance with payment obligations contracted with them, the interested party must declare this situation, indicating the terms and characteristics of the operation in question, with indication of the issuing society, as well as a detailed description of the circumstances under which the loss, damage, or patrimonial detriment occurred.

6.
In the event that the person has been a shareholder, board member, auditor, general manager, or relevant executive in a legal entity to which the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Surety Commission, or the National Retirement Savings System Commission, have denied the concession, authorization, registration, or whose concession or authorization has been revoked, or registration canceled, or authorization to acquire shares representing the social capital of said legal entities has been denied, they must declare this situation, indicating a detailed description of the circumstances under which the concession, authorization, registration, or authorization to acquire shares of the social capital was revoked, canceled, or denied.

7.
Accompany a document issued by a legal entity of recognized prestige in the judgment of the National Banking and Securities Commission, which provides legal services and in which the information indicated in the previous section V is stated, noting that it had the supporting documentation for it, in the event that a procedure was declared.

8.
Attach a copy of the legal services contract that the applicant has celebrated with the legal entity referred to in the previous number, which contains the terms and conditions agreed upon between the parties for the issuance of the document contained in the previous number, regarding which the National Banking and Securities Commission may require modifications.

9.
Attach their curriculum vitae in which the reasons or causes for the termination of the labor relationships presented in that information are detailed.

10.
Attach the registry data report issued by the Attorney General's Office of the Republic or the General Prosecutor's Office that replaces it, as well as the criminal record letter issued by the Justice Prosecutor's Office or the State Prosecutor's Office of the place of residence and of the State where the main business seat is located. In the case of persons residing in Mexico City, the criminal record letter will be that issued by the Ministry of the Interior through the National Security Commission, and for persons who do not reside or have not resided in national territory for a period greater than three months, in substitution of the aforementioned report and letter, they must present the equivalent documents to those previously indicated, issued in their country of residence. In the event that, to process the documents referred to in this number, the interested parties require a formal petition issued by the Commission, they must request it in writing to said Commission.

B.
FORMAT OF PROTEST LETTER FOR LEGAL ENTITIES

Mexico City, on

NATIONAL BANKING AND SECURITIES COMMISSION

Present,

( Name or corporate name of the legal entity ), through its representative ( name of the legal representative ), personality that accredits through power contained in ( data of the deed and its registration in the Public Commerce Registry ), declares under oath of telling the truth and with the object of providing the information that may be necessary in relation to the authorization request presented [to be presented] before that National Banking and Securities Commission to constitute itself as secured creditors on shares representing more than five percent of the social capital of an investment fund operator society, distributor, or investment fund share valuer society, the following:

That it enjoys a satisfactory credit history according to the credit information report with the character of special credit report in terms of the Law to Regulate Credit Information Societies, issued by the credit information society(ies) named _____ and _____, and is current in the fulfillment of its credit obligations, including regarding credits that have been subject to restructuring. Attached hereto, please find the special credit report in which that Commission may verify that there is no default on its credit obligations, or, if there is any prevention key in that regard, the report itself shows:

b)
The existence of payment of overdue debts as of the date of the inquiry and evidence of sustained payment over a 1-year period;

c)
Payment of losses caused to a financial entity, regardless of the amount, voluntarily promoted by the accredited party, or

d)
The existence of judicial resolutions favorable to the accredited parties, in litigation with creditors.

We also declare that our represented party has not defaulted on its debt securities payment obligations in the securities market, nor does it exercise nor has it exercised command power over an issuing society that has done so.

II.

That it has not been subject to administrative investigation or inquiry proceedings before the National Banking and Securities Commission for violations of national or foreign financial laws, or before other Mexican supervisory and regulatory institutions of the financial system or of other countries, or that, having been, these concluded with a final and definitive resolution or agreement/convention in which its exoneration was expressly determined.

III.

That it has not been declared in civil or commercial bankruptcy, or that even if it had been, it was terminated due to the causes indicated in sections I, II, or V of article 262 of the Commercial Bankruptcy Law, or, regarding civil bankruptcy, by having paid creditors in full or entered into an agreement with them, in accordance with local laws.

IV.

That it is or has been a subject or party in proceedings before common or federal jurisdictional bodies, criminal investigations, as well as any other procedure, which are indicated below: (6)

That it has not been a shareholder of a legal entity to which the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Surety Commission, or the National Retirement Savings System Commission, have denied the concession, authorization, or registration.

VI.

That it has not been a shareholder of a financial entity whose concession, authorization, or registration has been revoked by the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Surety Commission, or the National Retirement Savings System Commission.

The undersigned in the name of its represented party authorizes the National Banking and Securities Commission to verify, where applicable, before Mexican financial entities, credit information societies, and any competent authority, the truthfulness of the declarations contained in this document, regarding any type of operation, in terms and with the breadth referred to in articles 142 of the Credit Institutions Law, 192 and 295 of the Securities Market Law, 55 of the Investment Funds Law, and other applicable provisions.

Likewise, I authorize said Commission to, during the time my represented party serves as a shareholder of the investment fund operator society, investment fund share distributor society, or investment fund share valuer society in question, or maintains in guarantee shares representing its social capital, in the event that said Commission learns by any means that it ceased to meet the conditions of sections I to III and V and VI above, or has news that it is in a process before any jurisdictional body, verify and request the corresponding information.

The declarations under oath of telling the truth contained in this document are made for the purpose that that National Banking and Securities Commission has elements of judgment to evaluate the honorability and satisfactory credit and business history of my represented party by the undersigned and to determine, where applicable, in the exercise of the discretionary power conferred by article 34, section IV and second paragraph of the Investment Funds Law on that authority, whether it is prudent and opportune to constitute me as a secured creditor on shares with respect to more than five percent of shares representing the social capital of the investment fund operator society, distributor, or investment fund share valuer society named ____________, with the proposed share percentages in the authorization application we are addressing.

Sincerely,

(Name and signature of the legal representative)

(Name or corporate name of the legal entity)

Filling Instructions:

1.
Fill in the blanks and provide the information indicated in parentheses, as appropriate.

3.
In the event that the interested party is unable to formulate any of the declarations referred to in sections I to III of this letter, they must express in the corresponding number this circumstance, detailing the facts, acts, and reasons that prevent them or for which they do not fit the referred conditions.

For the purposes of the above, it will be understood that a legal entity acted through the interposition of another legal entity, when the former has or has had control of the latter, or when it exercises or has exercised command power regarding the society or association in question.

6.
In the event that the person has been a shareholder in a legal entity to which the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Surety Commission, or the National Retirement Savings System Commission have denied the concession, authorization, or registration, or whose concession has been revoked, they must declare this situation, indicating a detailed description of the circumstances under which the concession, authorization, or registration was revoked or denied.

7.
Accompany a document issued by a legal entity of recognized prestige in the judgment of the National Banking and Securities Commission, which provides legal services and in which the information indicated in the previous section IV is stated, noting that it had the supporting documentation for it in the event that a procedure was declared.

ANNEX 15

FORMAT OF CURRICULAR INFORMATION OF THE PERSONS PROPOSED TO OCCUPY THE POSITIONS OF BOARD MEMBER, GENERAL MANAGER, REGULATORY CONTROLLER, OR OFFICIAL WITHIN THE TWO IMMEDIATE LOWER HIERARCHIES TO THE GENERAL MANAGER OF INVESTMENT FUND OPERATOR SOCIETIES, DISTRIBUTOR SOCIETIES, OR INVESTMENT FUND SHARE VALUER SOCIETIES AND SOCIETIES THAT ADMINISTER ELECTRONIC TRADING MECHANISMS FOR INVESTMENT FUND SHARES OR DISCLOSURE OF INVESTMENT FUND INFORMATION

Name of the society.

Date of preparation (dd/mm/yyyy).

This information is part of the request presented to the National Banking and Securities Commission, its content is confidential and may be subject to review and verification.

Filling Instructions.

This format must be filled out by:

a)
Board members.

b)
General manager.

c)
Regulatory controller.

d)
Officials who occupy positions within the two immediate lower hierarchies to the General Manager

general.

No blank spaces should be left; in any case, mention: None, No, I do not have, Not applicable.

All required names and data must be presented in full (e.g., persons with two first names).

SECTION 1

PERSONAL IDENTIFICATION DATA

First name(s).

Paternal surname.

Maternal surname.

Nationality.

RFC (with homoclave).

Unique Population Registry Key

(CURP).

Address for hearing and receiving notifications

Street and exterior and/or interior number.

Neighborhood.

Delegation or Municipality.

Federative Entity.

Postal code.

Country.

Marital status.

Name of spouse or concubine (partner).

Name of relatives in the direct line

ascendant and descendant up to the fourth degree.

SECTION 2

PARTICIPATION OF THE PERSON IN THE INVESTMENT FUND OPERATING COMPANY,

INVESTMENT FUND DISTRIBUTING COMPANY OR INVESTMENT FUND SHARE VALUATION COMPANY AND

COMPANY THAT ADMINISTER ELECTRONIC TRADING MECHANISMS FOR INVESTMENT FUND SHARES

OR DISCLOSURE OF INFORMATION OF INVESTMENT FUNDS

Position.

Chairman of the board of directors.

Proprietor Director.

Independent:

Yes

Alternate Director.

Independent:

Yes

Secretary of the board of directors.

General Manager.

Regulatory Controller

Finance Director.

Legal Director.

Commercial Director.

Other(s).

Specify:

SECTION 3

ACADEMIC EXPERIENCE

Institution.

Date.

Degree.

SECTION 4

PROFESSIONAL EXPERIENCE (5 YEARS OF EXPERIENCE IN THE MATTER)

Institution.

Period.

Position.

SECTION 5

ADDITIONAL INFORMATION

If you consider that there is any other relevant information not contemplated in the previous

sections, you must list the information and comment in the following box.

Section.

Information.

SECTION 6

DECLARATIONS AND SIGNATURES

By this document, the undersigned authorizes the National Banking and Securities Commission, regarding the

information provided herein, to:

Verify it as deemed pertinent, as well as to obtain from any other authority deemed

convenient information about my person, in connection with the authorization request presented

before that Commission.

Share it in a confidential manner with the National Insurance and Sureties Commission, the

National Retirement Savings System Commission, the Bank of Mexico, the Tax Administration

Service, the Attorney General's Office and other authorities, for the exclusive

fulfillment of their functions.

I confirm that I have read and filled out this form with care, such that I understand its content

and legal implications.

I understand that providing false data will be grounds for considering that the requirements

for occupying the positions referred to in this Annex are not met, without prejudice to the penalties or legal sanctions that

may apply according to the case.

I DECLARE UNDER OATH THAT THE DATA CONTAINED IN THIS

DECLARATION ARE TRUE.

Signature of the person or legal representative.

NAME

DATE

SECTION 7

DOCUMENTS TO BE ATTACHED TO THE APPLICATION

Copy of valid official identification (voter credential or valid passport and in the case of

foreign nationals, migratory form or passport).

Copy of the tax identification card and of the Unique Population Registry Key.

Documentation supporting the information referred to in Sections 3 and 4 of this Annex.

Curriculum Vitae.

ANNEX 16

FORMATS OF PROTEST LETTERS FOR PERSONS PROPOSED TO OCCUPY THE POSITIONS OF

DIRECTOR, GENERAL MANAGER, REGULATORY CONTROLLER OR OFFICIAL WITHIN THE

TWO IMMEDIATELY LOWER HIERARCHIES BELOW THAT OF GENERAL MANAGER OF COMPANIES

OPERATING INVESTMENT FUNDS, DISTRIBUTING COMPANIES OR COMPANIES

VALUATING INVESTMENT FUND SHARES

PERSONS PROPOSED AS DIRECTORS IN INVESTMENT FUND OPERATING COMPANIES AND COMPANIES VALUATING

INVESTMENT FUND SHARES

NATIONAL BANKING AND SECURITIES COMMISSION

Present,

The undersigned, ( name of the person signing ), by my own right and in relation to the request for

authorization presented before that Commission for the organization and functioning of the [investment fund operating

company] [investment fund share valuation company] to be named

_____________________, in which I would be proposed to serve as a director, through this

I declare under oath, the following:

That I do not fall under any of the following circumstances established in Article 34 Bis of the

Investment Funds Law, as an impediment to serving as an independent director of an

investment fund operating company or investment fund share valuation company:

Being an employee or executive of the company to be formed.

Being a shareholder who, without being an employee or executive of the company, has Command Power in the

company.

Being a partner or person holding a job, position or commission in companies or associations

considered as important in terms of Article 34 Bis, fifth paragraph, fraction III,

second paragraph of the Investment Funds Law, that provide services to the company to

be formed or to the companies belonging to the same Business Group of which this

is a part.

Being a client, supplier, service provider, debtor, creditor, partner, director or employee of

a company that is a client, supplier, service provider, debtor or creditor that is

considered important to the company in question, in terms of Article 34 Bis, fifth

paragraph, fraction IV, second paragraph of the Investment Funds Law.

Being an employee of a foundation, association or civil society that receives donations from the

company to be formed that are considered important in terms of what is provided in Article 34

Bis, fifth paragraph, fraction V, second paragraph of the Investment Funds Law.

Being general director or high-level executive of a company whose board of directors

includes the general director or a high-level executive of the company in question.

Being general director or employee of financial entities belonging to the same Business

Group or Consortium to which the company to be formed belongs.

Being spouse, concubine or concubinary, as well as having kinship by blood, affinity

or civil up to the first degree, with respect to any of the persons falling under the circumstances

mentioned in fractions III to VII of Article 34 Bis, of the Law, or up to the third degree, in relation to those indicated in fractions I, II and IX of the aforementioned Article 34 Bis of

the Investment Funds Law.

Being director or employee of companies in which the shareholders of the company to be formed

exercise Control.

Having a conflict of interest or being subordinated to personal, patrimonial or economic

interests of any of the persons who maintain Control of the company in question, or of the

Consortium or Business Group to which the operating company or investment fund share valuation company belongs, having Command Power in any of these.

Having been in any of the aforementioned circumstances during the year prior to

the moment in which their appointment is intended to be made.

II.

That I am not in any of the restriction or incompatibility circumstances provided for in the

applicable legislation.

III.

That I do not have a conflict of interest or opposing interest to that of the persons requesting authorization for

the organization and operation of the company to be formed (nor, if applicable, with any of the companies

that are part of the financial group to which the company belongs).

IV.

That I am up to date with my credit obligations of any kind, which I evidence

with the credit information report, with the character of special credit report in terms of

the Law to Regulate Credit Information Companies, with an issuance date not older than

three months prior to the date of this request.

That I know the rights and obligations I would assume upon accepting the appointment as independent director

of the [investment fund share operating company] [investment fund share valuation company] to be named

____________________ and that I have the necessary experience to perform said position.

VI.

That I am or have been a subject or party before common or federal jurisdictional bodies,

criminal investigations, as well as any other procedure, even in other countries

individually and, if applicable, in my capacity as legal representative, director, official, employee or

commissioner of any legal entity, which are indicated below: (7)

Type of

procedure.

Body before which

the procedure is

taken.

Capacity in which

I intervened.

Status of the

procedure,

including start date and, if applicable,

conclusion.

Outcome of the

definitive resolution,

if applicable.

VII.

That I meet the requirements of technical quality, honorability and satisfactory credit history, as well

as of extensive experience and knowledge in financial matters in accordance with the

general provisions applicable issued by the National Banking and Securities Commission.

VIII.

That I have not been a shareholder, director, auditor, general director or relevant executive in a

legal entity to which the Ministry of Finance and Public Credit, the National Banking and Securities

Commission, the National Insurance and Sureties Commission or the National Retirement Savings System

Commission, have denied the concession, authorization, or registration, nor has authorization been denied to me

to acquire shares representing the social capital of companies supervised by

these National Commissions.

IX.

That I have not been a shareholder, director, auditor or relevant executive in a financial entity to

which the concession or authorization has been revoked, or the registration cancelled, nor has the

authorization to acquire shares of the social capital of companies that enjoy the concession,

authorization or registration of the Ministry of Finance and Public Credit, the National Banking and

Securities Commission, the National Insurance and Sureties Commission or the National Retirement Savings

System Commission been denied to me.

Likewise, I authorize the National Banking and Securities Commission so that during the time I serve as a director of the investment fund operating company, investment fund share distributing company or investment fund share valuation company in question, or well, in case that said Commission learns by any means that I ceased to be in the circumstances of sub-paragraphs I to V and VII to IX above, or well, has news that I am in a process before any jurisdictional body, verify and request the corresponding information.

Sincerely,

(NAME AND SIGNATURE)

Annexes. - Credit information report, with the character of special credit report in terms of

the Law to Regulate Credit Information Companies. In case that persons have not resided

in national territory during a period of six years prior to the date of the authorization request, the

document equivalent to the credit information report issued in their country of

residence must be presented. The referred documents must have an issuance date not older than three months

prior to the date of such request.

Attach a document issued by a legal entity of recognized prestige in the judgment of the

National Banking and Securities Commission, that provides legal services and in which the information

indicated in the previous fraction VI is stated, noting that it had the supporting documentation for it, in case

of having declared a procedure.

Attach a copy of the legal services contract that the applicant has celebrated with the

legal entity referred to in the previous paragraph, which contains the terms and conditions agreed upon between the

parties for the issuance of the document contained in the previous paragraph, regarding which the National Banking and

Securities Commission may require modifications.

Attach the registry data report issued by the Attorney General's Office or the General Prosecutor's Office

that substitutes it, as well as the criminal record letter issued by the Justice Prosecutor's Office or the State Prosecutor's Office of the place of residence and of the State where the main business seat is located. In the case of persons residing in Mexico City, the criminal record letter will be the

one issued by the Ministry of the Interior through the National Security Commission, and for persons

who do not reside or have not resided in national territory for a period greater than three months, in substitution of the

report and the letter mentioned, they must present the documents equivalent to those mentioned above,

issued in the country of their residence. In the event that, to process the documents referred to in the

present numeral, the interested parties require a formal petition issued by the Commission,

they must request it in writing to the Commission itself.

II.

PERSONS PROPOSED TO OCCUPY THE POSITION OF DIRECTOR, GENERAL

MANAGER, REGULATORY CONTROLLER OR OFFICIAL WITHIN THE TWO IMMEDIATELY LOWER HIERARCHIES

BELOW THAT OF GENERAL MANAGER OF INVESTMENT FUND OPERATING COMPANIES

INVESTMENT FUND SHARE DISTRIBUTING COMPANIES OR INVESTMENT FUND SHARE VALUATION COMPANIES

NATIONAL BANKING AND SECURITIES COMMISSION

Present,

The undersigned, ( name of the person signing ), by my own right and in relation to the request for

authorization presented before that Commission for the organization and functioning of the [investment fund operating

company, [investment fund share distributing company] [investment fund share valuation company] to be named

_____________________, in which I would be proposed to serve

as (corresponding position), through this I declare under oath, the following:

That I have provided at least five years of my services in high-level decision-making positions, whose

performance requires knowledge and experience in financial and administrative matters.

II.

That I do not fall under any of the circumstances established in Article 34 Bis 4 of the Investment

Funds Law, as an impediment to being a high-level executive of an investment fund operating

company, investment fund share distributing company or investment fund share valuation

company.

III.

That I am not in any of the restriction or incompatibility circumstances provided for in the

applicable legislation.

IV.

That I am up to date with my credit obligations of any kind, which I evidence

with the credit information report, with the character of special credit report in terms of

the Law to Regulate Credit Information Companies, with an issuance date not older than

three months prior to the date of this request.

That I know the rights and obligations I would assume upon accepting the appointment as (position that

corresponds) of the [investment fund operating company] [investment fund share distributing

company] [investment fund share valuation company] to be named

______________________ and that I have the necessary experience to perform said position.

VI.

That I am or have been a subject or party before common or federal jurisdictional bodies,

criminal investigations, as well as any other procedure, even in other countries

individually and, if applicable, in my capacity as legal representative, director, official, employee or

commissioner of any legal entity, which are indicated below: (8)

Type of

procedure.

Body before which

the procedure is

taken.

Capacity in which

I intervened.

Status of the

procedure,

including start date and, if applicable,

conclusion.

Outcome of the

definitive resolution,

if applicable.

VII.

That I meet the requirements of technical quality, honorability and satisfactory credit history, as well

as of extensive experience and knowledge in financial matters in accordance with the

general provisions applicable issued by the National Banking and Securities Commission.

VIII.

That I have not been a shareholder, director, auditor, general director or relevant executive in a

legal entity to which the Ministry of Finance and Public Credit, the National Banking and Securities

Commission, the National Insurance and Sureties Commission or the National Retirement Savings System

Commission, have denied the concession, authorization, or registration, nor has authorization been denied to me

to acquire shares representing the social capital in companies supervised by

these National Commissions.

IX.

That I have not been a shareholder, director, auditor or relevant executive in a financial entity to

which the concession or authorization has been revoked, or the registration cancelled, nor has the

authorization to acquire shares of the social capital of companies that enjoy the concession,

authorization or registration of the Ministry of Finance and Public Credit, the National Banking and

Securities Commission, the National Insurance and Sureties Commission or the National Retirement Savings

System Commission been denied to me.

Likewise, I authorize the National Banking and Securities Commission so that during the time I serve as general manager or official within the two immediately lower hierarchies below that of the general manager of the investment fund operating company, investment fund share distributing company or investment fund share valuation company in question, or well, in case

that said Commission learns by any means that I ceased to be in the circumstances of sub-paragraphs I to V and

VII to IX above, or well, has news that I am in a process before any jurisdictional body,

verify and request the corresponding information.

Sincerely,

(NAME AND SIGNATURE).

Annexes. - Credit information report, with the character of special credit report in terms of

the Law to Regulate Credit Information Companies. In case that persons have not resided

in national territory during a period of six years prior to the date of the authorization request, the

document equivalent to the credit information report issued in their country of

residence must be presented. The referred documents must have an issuance date not older than three months

prior to the date of such request.

Attach a document issued by a legal entity of recognized prestige in the judgment of the

National Banking and Securities Commission, that provides legal services and in which the information

indicated in the previous fraction VI is stated, noting that it had the supporting documentation for it.

Attach a copy of the legal services contract that the applicant has celebrated with the

legal entity referred to in the previous paragraph, which contains the terms and conditions agreed upon between the

parties for the issuance of the document contained in the previous paragraph, regarding which the National Banking and

Securities Commission may require modifications.

Attach the registry data report issued by the Attorney General's Office or the General Prosecutor's Office

one issued by the Ministry of the Interior through the National Security Commission, and for persons

who do not reside or have not resided in national territory for a period greater than three months, in substitution of the

report and the letter mentioned, they must present the documents equivalent to those mentioned above,

issued in the country of their residence. In the event that, to process the documents referred to in the

present numeral, the interested parties require a formal petition issued by the Commission,

they must request it in writing to the Commission itself.

ANNEX 21

PROTEST LETTER FORMAT FOR PERSONS WHO INTEND TO PARTICIPATE IN

THE SOCIAL CAPITAL OF A COMPANY THAT ADMINISTER ELECTRONIC TRADING MECHANISMS FOR

INVESTMENT FUND SHARES OR DISCLOSURE OF INFORMATION

PROTEST LETTER FORMAT FOR NATURAL PERSONS.

Mexico City, to

NATIONAL BANKING AND SECURITIES COMMISSION

Present,

The undersigned, ( name of the person signing ), by my own right and with the object of

providing the information that proves necessary in relation to the authorization request [to be presented]

[presented] before that National Banking and Securities Commission for the organization and functioning of the

company that [administers electronic trading mechanisms for investment fund shares]

[administers electronic disclosure mechanisms for investment fund information] to be named

____________, I declare under oath the following:

That I have a satisfactory credit history according to the credit information report with the

character of special credit report in terms of the Law to Regulate Credit Information Companies, issued by the credit information company named______, and I

am up to date in the fulfillment of my credit obligations, even regarding

credits that have been subject to restructuring. Attached to this, please find the special

credit report of the undersigned, in which that Commission can verify that there is no

non-compliance with my credit obligations, or well that if there is any prevention key in

that sense, from the report itself it can be appreciated:

The existence of a favorable resolution for the debtor due to the challenge of the registration in question,

due to errors attributable to the users of the credit information companies

that are financial entities subject to the supervision of the National Banking and Securities

Commission;

The existence of payment of overdue debts on the date of the consultation and evidence of sustained

payment over a period of 1 year;

Payment of losses caused to a financial entity, regardless of its amount, promoted

voluntarily by the accredited party, or

The existence of judicial resolutions favorable to the accredited parties, before litigation with the

creditors.

Likewise, I declare that I do not have nor have I had control, nor do I exercise nor have I exercised command power

of an issuing company that has failed to meet its debt securities payment obligations in the securities market.

II.

That I am not and have not been subject to criminal proceedings for an intentional crime punishable by imprisonment of more than one year, and that, if I have been, this concluded with an acquittal.

III.

That I have not been subject to administrative inquiry or investigation proceedings before the National Banking and Securities Commission for violations of national or foreign financial laws, or before other Mexican supervisory and regulatory institutions of the financial system or of other countries, or that, if I have been, these concluded with a final and definitive resolution or agreement/convention in which my exoneration was expressly determined.

IV.

That I have not been declared bankrupt in civil or commercial proceedings, or that even if I have been, this was terminated by the causes indicated in fractions I, II or V of article 262 of the Commercial Bankruptcy Law or, in the case of civil bankruptcy, by having paid creditors in full or entered into an agreement with them, in accordance with local laws.

That I am or have been a subject or party in proceedings before common or federal jurisdictional bodies, criminal investigations, as well as any other procedure, even in other countries, individually and, where applicable, in my capacity as legal representative, advisor, official, employee or agent of any legal entity, which are indicated below: (9)

Type of procedure.

Body before whom the procedure is carried out.

Capacity in which
I intervened.

Status of the procedure, including start date and, where applicable, conclusion.

Outcome of the definitive resolution, where applicable.

VI.

That I have not been a shareholder, advisor, auditor, general director or relevant executive in a legal entity to which the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Surety Commission or the National Retirement Savings System Commission, have denied the concession, authorization or registration, nor has authorization been denied to me to acquire shares representing the social capital of societies supervised by said National Commissions.

VII.

That I have not been a shareholder, advisor, auditor or relevant executive in a financial entity whose concession or authorization has been revoked, or registration cancelled, nor has authorization been denied to me to acquire shares representing the social capital of societies that enjoy the concession, authorization or registration of the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Surety Commission or the National Retirement Savings System Commission.

The undersigned authorizes the National Banking and Securities Commission to verify, where applicable, before Mexican financial entities, credit information societies, the Bank Insurance Protection Institute and any other competent authority, the truthfulness of the statements contained in this document, regarding any type of operation, in terms and with the scope referred to in articles 142 of the Credit Institutions Law, 192 and 295 of the Securities Market Law, 55 of the Investment Funds Law and others that are applicable.

Likewise, I authorize the said Commission to, during the time in which I serve as a shareholder of the society that administers electronic trading mechanisms for investment fund shares or the society that administers electronic disclosure mechanisms for investment fund information, or while I hold shares representing its social capital in guarantee, in the event that said Commission learns by any means that I no longer meet the conditions of fractions I to IV and VI and VII above, or if it has news that I am in a process before any jurisdictional body, verify and request the corresponding information.

The statements under oath contained in this document are made for the purpose of the National Banking and Securities Commission having elements of judgment to evaluate the honorability and satisfactory credit and business history of the undersigned and to determine if it is prudent and timely for them to participate as a shareholder in the social capital of the [society that administers electronic trading mechanisms for investment fund shares] [the society that administers electronic disclosure mechanisms for investment fund information] to be named ___________ with the proposed shareholding percentages [to be proposed] in the authorization application we are addressing.

Sincerely,

(Name and signature of the interested party)

Filling Instructions:

Fill in all blank spaces and provide the information indicated in parentheses, as appropriate.

Attach the credit information report with the character of special credit report in terms of the Law to Regulate Credit Information Societies. In the event that persons have not resided in national territory during a period of six years prior to the date of the authorization request, the equivalent document to the credit information report issued in their country of residence must be presented. The referred documents must have an issue date no more than three months prior to the date of such request.

In the event that the interested party is not able to make any of the declarations referred to in fractions I to IV of this letter, they must express in the corresponding numeral this circumstance, detailing the facts, acts and reasons that prevent them or for which they do not fall under the referred conditions.

In the event that the person has caused damage, loss or financial detriment, directly or through an intermediary, to the detriment of financial entities due to non-compliance with their obligations or with haircuts, forgiveness or discounts received regarding credits, unless these were under general programs implemented by the financial entities themselves or the Federal Government, the interested party must declare this situation, indicating the terms and characteristics of the credit in question, with indication of the accrediting entity, as well as a detailed description of the circumstances under which the damage, loss or financial detriment occurred.

In the event that the person has caused damage, loss or financial detriment to the detriment of issuers in the securities market in which they exercise or have exercised control or have or have had command power, due to non-compliance with payment obligations contracted with them, the interested party must declare this situation, indicating the terms and characteristics of the operation in question, with indication of the issuing company, as well as a detailed description of the circumstances under which the damage, loss or financial detriment occurred.

In the event that the person has been a shareholder, advisor, auditor, general director or relevant executive in a legal entity to which the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Surety Commission or the National Retirement Savings System Commission, have denied the concession, authorization, registration; whose concession or authorization has been revoked, or registration cancelled, or who have denied authorization to acquire shares of the social capital of said legal entities, they must declare this situation, indicating a detailed description of the circumstances under which the concession, authorization, registration or authorization to acquire shares of the social capital was revoked, cancelled or denied.

Accompany a document issued by a legal entity of recognized prestige judged by the National Banking and Securities Commission, which provides legal services and in which the information indicated in the previous fraction V is stated, noting that it had the supporting documentation for it, in case a procedure was declared.

Attach a copy of the legal services contract that the applicant has entered into with the legal entity referred to in the previous numeral, which contains the terms and conditions agreed between the parties for the issuance of the document contained in the previous numeral, regarding which the National Banking and Securities Commission may require modifications.

Attach their curriculum vitae in which the reasons or causes for the termination of the labor relationships presented in said information are detailed.

10.

Attach the registry data report issued by the Attorney General's Office of the Republic or the Public Prosecutor's Office that replaces it, as well as the letter of no criminal records issued by the State Attorney General's Office or the Prosecutor's Office of the place of their residence and the State where they have their main business seat. In the case of persons residing in Mexico City, the letter of no criminal records will be the one issued by the Ministry of the Interior through the National Security Commission, and for persons who do not reside or have not resided in national territory for a period greater than three months, in substitution of the aforementioned report and letter, they must present the equivalent documents to those previously indicated, issued in their country of residence. In the event that, to process the documents referred to in this numeral, the interested parties require a formal petition issued by the Commission, they must request it in writing from the said Commission.

FORMAT OF PROTEST LETTER FOR LEGAL ENTITIES

Mexico City, on

NATIONAL BANKING AND SECURITIES COMMISSION

Present,

(Name or corporate name of the legal entity), through its representative (name of the legal representative), personality accredited through power of attorney contained in (data of the deed and its registration in the Public Commerce Registry), declares under oath and with the object of providing the information that may be necessary in relation to the authorization request [presented] [to be presented] before said National Banking and Securities Commission for the organization and functioning of the society that [administers electronic trading mechanisms for investment fund shares] [administers electronic disclosure mechanisms for investment fund information] to be named ____________, the following:

That it has a satisfactory credit history according to the credit information report with the character of special credit report in terms of the Law to Regulate Credit Information Societies, issued by the credit information society named _____, and is up to date in the fulfillment of its credit obligations, including regarding credits that have been subject to restructuring. Attached hereto, please find the special credit report of the undersigned, in which that Commission can verify that there is no non-compliance with its obligations, or, if there is any prevention key in that sense, from the report itself it can be appreciated:

The existence of a favorable resolution for the debtor due to the challenge of the registration in question, due to errors attributable to the users of the credit information societies that are financial entities subject to the supervision of the National Banking and Securities Commission;

The existence of payment of overdue debts as of the date of the consultation and evidence of sustained payment over a period of 1 year;

Payment of damages caused to a financial entity, regardless of its amount, promoted voluntarily by the accredited party, or

The existence of favorable judicial resolutions for the accredited parties, before litigation with creditors.

Likewise, we declare that our represented party has not failed to meet its debt securities payment obligations in the securities market, nor exercises or has exercised command power of an issuing company that has done so.

II.

That it has not been subject to administrative inquiry or investigation proceedings before the National Banking and Securities Commission for violations of national or foreign financial laws, or before other Mexican supervisory and regulatory institutions of the financial system or of other countries, or that, if it has been, these concluded with a final and definitive resolution or agreement/convention in which its exoneration was expressly determined.

III.

That it has not been declared bankrupt in civil or commercial proceedings, or that even if it has been, this was terminated by the causes indicated in fractions I, II or V of article 262 of the Commercial Bankruptcy Law, or, in the case of civil bankruptcy, by having paid creditors in full or entered into an agreement with them, in accordance with local laws.

IV.

That it is or has been a subject or party in proceedings before common or federal jurisdictional bodies, criminal investigations, as well as any other procedure, which are indicated below: (10)

Type of procedure.

Body before whom the procedure is carried out.

Capacity in which
I intervened.

Status of the procedure, including start date and, where applicable, conclusion.

Outcome of the definitive resolution, where applicable.

That it has not been a shareholder of a legal entity to which the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Surety Commission or the National Retirement Savings System Commission, have denied the concession, authorization or registration.

VI.

That it has not been a shareholder of a financial entity whose concession, authorization or registration has been revoked by the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Surety Commission or the National Retirement Savings System Commission.

The undersigned on behalf of its represented party authorizes the National Banking and Securities Commission to verify, where applicable, before Mexican financial entities, credit information societies, the Bank Insurance Protection Institute and any competent authority, the truthfulness of the statements contained in this document, regarding any type of operation, in terms and with the scope referred to in articles 142 of the Credit Institutions Law, 192 and 295 of the Securities Market Law, 55 of the Investment Funds Law and others that are applicable.

Likewise, I authorize the said Commission to, during the time in which my represented party serves as a shareholder of the society that administers electronic trading mechanisms for investment fund shares or the society that administers electronic disclosure mechanisms for investment fund information, or while it holds shares representing its social capital in guarantee, in the event that said Commission learns by any means that it no longer meets the conditions of fractions I to III and V and VI above, or if it has news that it is in a process before any jurisdictional body, verify and request the corresponding information.

The statements under oath contained in this document are made for the purpose of that National Banking and Securities Commission having elements of judgment to evaluate the honorability and satisfactory credit and business history of my represented party and to determine if it is prudent and timely for it to participate as a shareholder in the social capital of the society that [administers electronic trading mechanisms for investment fund shares] [administers electronic disclosure mechanisms for investment fund information] to be named ___________ with the proposed shareholding percentages [to be proposed] in the authorization application we are addressing.

Sincerely,

(Name and signature of the legal representative)

(Name or corporate name of the legal entity)

Filling Instructions:

Fill in all blank spaces and provide the information indicated in parentheses, as appropriate.

Attach the credit information report with the character of special credit report in terms of the Law to Regulate Credit Information Societies, with an issue date no more than three months prior to the date of request.

In the event that the interested party is not able to make any of the declarations referred to in fractions I to III of this letter, they must express in the corresponding numeral this circumstance, detailing the facts, acts and reasons that prevent them or for which they do not fall under the referred conditions.

In the event that the person has caused damage, loss or financial detriment to the detriment of issuing societies in the securities market in which they exercise or have exercised control or have or have had command power, due to non-compliance with payment obligations contracted with them, the interested party must declare this situation, indicating the terms and characteristics of the operation in question, with indication of the issuing company, as well as a detailed description of the circumstances under which the damage, loss or financial detriment occurred.

In the event that the person has been a shareholder in a legal entity to which the Ministry of Finance and Public Credit, the National Banking and Securities Commission, the National Insurance and Surety Commission or the National Retirement Savings System Commission have denied the concession, authorization or registration, or whose concession has been revoked, they must declare this situation, indicating a detailed description of the circumstances under which the concession, authorization or registration was revoked or denied.

Accompany a document issued by a legal entity of recognized prestige judged by the National Banking and Securities Commission, which provides legal services and in which the information indicated in the previous fraction IV is stated, noting that it had the supporting documentation for it, in case a procedure was declared.

Only in the case where the undersigned has been subject to any process before common or federal jurisdictional tribunals, criminal investigations, as well as any other that by its relevance must be declared by the applicant. Otherwise, the fields must be filled with "N/A".

Only in the case where the legal entity has been subject to any process before common or federal jurisdictional tribunals, criminal investigations, as well as any other that by its relevance must be declared by the applicant. Otherwise, the fields must be filled with "N/A".

Only in the case where the undersigned has been subject to any process before common or federal jurisdictional tribunals, criminal investigations, as well as any other that by its relevance must be

declared by the applicant. Otherwise, the fields must be filled with "N/A".

Only in the case where the signatory has been subject to any process before common or federal jurisdictional courts, criminal investigations, as well as any other that by its relevance must be declared by the applicant. Otherwise, the fields must be filled with "N/A".

Only in the case where the legal entity has been subject to any process before common or federal jurisdictional courts, criminal investigations, as well as any other that by its relevance must be declared by the applicant. Otherwise, the fields must be filled with "N/A".

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