2018-07-23 | DOF 5532580

Added

Resolution modifying the Resolution modifying the general provisions applicable to credit institutions published on April 26, 2018

The National Banking and Securities Commission amends Article 148 to adjust the composition of the Audit Committee for development banking institutions, requiring it to consist of three to five council members with at least one independent member who serves as chair. For multiple banking institutions, the Audit Committee must have at least three members, be chaired by an independent councilor, and maintain a majority of independent members. The resolution entered into force the day after its publication in the Official Gazette on July 23, 2018.

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DOF: 23/07/2018

RESOLUTION modifying the Resolution modifying the general provisions applicable to credit institutions published on April 26, 2018

A seal with the National Coat of Arms appears at the margin, stating: 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 40, second paragraph of the Credit Institutions Law, as well as Articles 4, fractions XXXVI and XXXVIII, and 16, fraction I of the National Banking and Securities Commission Law, and

CONSIDERING

That on April 26, 2018, the "Resolution modifying the general provisions applicable to credit institutions" was published in the Official Gazette of the Federation, effective from August 1, 2018, and

That taking into account the composition of the board of directors of development banking institutions, it is necessary to adjust the integration of the audit committee of said institutions, it has resolved to issue the following:

RESOLUTION MODIFYING THE RESOLUTION MODIFYING THE GENERAL PROVISIONS APPLICABLE TO CREDIT INSTITUTIONS PUBLISHED IN THE OFFICIAL GAZETTE OF THE FEDERATION ON APRIL 26, 2018

SOLE.- Article 148 of the "Resolution modifying the general provisions applicable to credit institutions" published in the Official Gazette of the Federation on April 26, 2018 is REFORMED, to read as follows:

" Article 148.- The Audit Committee of multiple banking institutions shall be composed entirely of members of the Board who may be regular or alternate members of the institution, and must be predominantly independent, appointed by the Board upon proposal by its president. Said committee must be chaired by an independent councilor and must have at least three members.

The Audit Committee of development banking institutions shall be composed of at least three and no more than five members of the Board who may be regular or alternate members, of whom at least one must be independent and shall preside.

The members of the Audit Committee of multiple banking institutions may appoint alternates, who must be regular or alternate councilors of the Board, maintaining a majority of independent councilors.

In the case of development banking institutions, the regular or alternate councilors who are members of their Audit Committee may be replaced by any other councilor.

In the event of the president's absence at any committee session, the members shall designate from among the regular or alternate councilors of the committee, the person who shall preside over that session.

Said committee must have a secretary, who shall be appointed by the president, and shall be responsible for recording the minutes of the respective sessions, and may or may not be a member of the committee. "

TRANSITORY

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

Respectfully,

Mexico City, July 12, 2018.- The President of the National Banking and Securities Commission, José Bernardo González Rosas.- Signature.

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