Resolution modifying the General Provisions applicable to securities issuers and other participants in the securities market — SHCP — MX

DOF: 09/08/2019

RESOLUTION modifying the General Provisions applicable to securities issuers and other participants in the securities market

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

The National Banking and Securities Commission, based on the provisions of articles 104, fraction III, subsection a) and last paragraph, and 343 of the Securities Market Law, as well as 4, fractions XXXVI and XXXVIII, and 16, fraction I of the National Banking and Securities Commission Law, and

CONSIDERING

That it is necessary to provide certainty to foreign issuers regarding the application of audit standards during the performance of external audit work on their financial statements by independent external auditors hired for such purposes, as well as the independence characteristics that these latter must have, has resolved to issue the following:

RESOLUTION MODIFYING THE GENERAL PROVISIONS APPLICABLE TO SECURITIES ISSUERS AND OTHER PARTICIPANTS IN THE SECURITIES MARKET

SINGLE ARTICLE.- Articles 84 and 84 Bis are REFORMED; and Articles 79, paragraphs eighth, ninth, and tenth, and 80, second paragraph of the "General Provisions applicable to securities issuers and other participants in the securities market" published in the Federal Official Diary on March 19, 2003, modified by resolutions published in said dissemination organ on October 7, 2003; September 6, 2004; September 22, 2006; September 19, 2008; January 27, July 22, and December 29, 2009; December 10 and 20, 2010; March 16, July 27, August 31, and December 28, 2011; February 16 and October 12, 2012; April 30 and July 15, 2013; January 30, June 17, September 24, and December 26, 2014; January 12 and 30, March 26, May 13, August 27, September 28, October 20, and December 31, 2015; May 6, October 19, and November 15, 2016; August 11, 2017; April 26, and June 13, 2018, shall remain as follows:

" ARTICLE 79.-

. . .

I. to III.

. . .

The financial statements referred to in this article must be audited by external auditors in compliance with the international audit standards provided in the "General Provisions applicable to entities and issuers supervised by the National Banking and Securities Commission that hire external audit services for basic financial statements" and its modifications, or under the audit standards of the issuer's country of origin, the trustor, guarantors of foreign nationality, or persons referred to in the seventh paragraph of this article.

Issuers, trustors, or guarantors of foreign nationality, as well as the persons referred to in the seventh paragraph of this article, may hire external auditors from the country of origin of the company in accordance with the norms provided for this case in their country, but for the purpose of verifying their independence, they must comply with what is established in article 6 of the general provisions referred to in the previous paragraph, and the firm and the external auditor must not fall under any of the circumstances provided in the code of ethics issued by the International Federation of Accountants "International Federation of Accountants", or the code of ethics applicable in the country of origin as causes of partiality in judgment to express their opinion.

Issuers, trustors, or guarantors of foreign nationality and the persons referred to in the seventh paragraph of this article, with respect to the external auditors who audit their annual financial statements, are only obligated to observe what is provided in this article.

ARTICLE 80.- The financial statements of Mexican issuers, with review of interim financial information, combined or pro forma, must be reviewed or audited, as appropriate, by firms and external auditors, who meet the professional and independence requirements contemplated in the "General Provisions applicable to entities and issuers supervised by the National Banking and Securities Commission that hire external audit services for basic financial statements" and its modifications.

With respect to the financial statements with review of interim financial information, combined or pro forma of issuers, trustors, guarantors of foreign nationality, or the persons referred to in the seventh paragraph of the previous article 79, the provisions of the last paragraph of said article shall equally apply. "

" ARTICLE 84.- The external auditor, on the date the opinion or report on the financial statements is issued and for each exercise subject to review, must deliver to the issuer and, through it, to the stock exchange for dissemination to the investing public, the document referred to in article 37 of the "General Provisions applicable to entities and issuers supervised by the National Banking and Securities Commission that hire external audit services for basic financial statements" and its modifications.

Likewise, issuers must provide the stock exchange with the information referred to in article 19 of "General Provisions applicable to entities and issuers supervised by the National Banking and Securities Commission that hire external audit services for basic financial statements" and its modifications for dissemination to the investing public.

Article 84 Bis.- The external auditor, on the date the prospectus or supplement referred to in articles 2nd, fraction I, subsection m) and 3rd, fraction X, and, if applicable, the annual information referred to in articles 33, fraction I, subsection b), numeral 1, and 36, fraction I, subsection c) of these provisions is presented, must deliver to the issuer and, through it, to the stock exchange for dissemination to the investing public, the document referred to in article 39 of the "General Provisions applicable to entities and issuers supervised by the National Banking and Securities Commission that hire external audit services for basic financial statements" and its modifications. "

TRANSITIONAL

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

Respectfully

Mexico City, August 2, 2019. - The President of the National Banking and Securities Commission, Adalberto Palma Gómez.- Signature.

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