Resolution reforming, adding, and repealing various General Provisions applicable to exchange centers under Article 95 Bis of the General Law of Credit Auxiliary Organizations and Activities

DOF: 20/03/2019

RESOLUTION that reforms, adds, and repeals various of the General Provisions referred to in Article 95 Bis of the General Law of Credit Auxiliary Organizations and Activities applicable to the exchange centers referred to in Article 81-A of the same legislation.

At the margin, a seal with the National Coat of Arms, which says: United Mexican States.- SHCP.- Ministry of Public Credit and Public Treasury.

RESOLUTION THAT REFORMS, ADDS, AND REPEALS VARIOUS OF THE GENERAL PROVISIONS REFERRED TO IN ARTICLE 95 BIS OF THE GENERAL LAW OF CREDIT AUXILIARY ORGANIZATIONS AND ACTIVITIES APPLICABLE TO THE EXCHANGE CENTERS REFERRED TO IN ARTICLE 81-A OF THE SAME LEGISLATION.

CARLOS MANUEL URZÚA MACÍAS, Secretary of Public Credit and Public Treasury, based on what is established in articles 31, fractions VIII and XXXIV, of the Organic Law of the Federal Public Administration and 95 Bis of the General Law of Credit Auxiliary Organizations and Activities, and in exercise of the powers conferred upon me by article 6º, fractions XXXIV, of the Internal Regulations of the Ministry of Public Credit and Public Treasury, and with the prior opinion of the National Banking and Securities Commission issued through letter number DGPORPIA/73665/2019 and 213-2/78557/2/2019 dated January 25, 2019;

AND

CONSIDERING

That during the 2016-2017 period, Mexico was evaluated within the framework of the Fourth Mutual Evaluation Round of the Financial Action Task Force (FATF), in order to examine its level of compliance with international standards in matters of money laundering prevention and terrorist financing;

That as a result of the above, on January 3, 2018, the FATF published the "Mutual Evaluation Report" through which said intergovernmental entity made various recommendations to Mexico in order to strengthen its regime for the prevention of money laundering and terrorist financing;

That therefore, the Ministry of Public Credit and Public Treasury has considered making various modifications to the general provisions that establish the minimum criteria and procedures in matters of money laundering prevention and terrorist financing applicable to exchange centers, this with the object of addressing the FATF recommendations and strengthening the regime in this matter;

That, in addition to the reform carried out on March 9, 2017 to the general provisions in matters of money laundering prevention and terrorist financing applicable to exchange centers, to help improve compliance with FATF Recommendations 1 and 10, it is specified in the legal framework the prohibition for exchange centers to carry out simplified identification measures for their users when they suspect that the resources that said users intend to use to carry out an operation could be related to money laundering or terrorist financing;

That likewise, in compliance with FATF Recommendation 10, it is necessary to strengthen the legal framework regarding the identification and user knowledge policy for exchange centers, establishing the circumstances in which they may suspend the identification process, in order to prevent the commission of money laundering and terrorist financing crimes, among others; and in its case, report the respective unusual operation report to the competent authority;

That to better address FATF Recommendation 12, it is convenient to establish that exchange centers determine if the beneficial owners of their users have the status of politically exposed persons, whether national or foreign, in accordance with applicable provisions, to be able to apply the appropriate due diligence measures;

That, on the other hand, since exchange centers can provide their services through new technologies, which have been recognized by the Mexican Government with the issuance of the Law to Regulate Financial Technology Institutions and its secondary provisions, in compliance with FATF Recommendation 15 and what is stated in the Report of January 3, 2018, it is necessary that these evaluate the risk of providing financial services through said technologies, so it is convenient to establish such obligation, prior to its implementation and development, as well as for its monitoring;

That, with the purpose of prioritizing efforts and resources in the new obligations established in this resolution, it is estimated convenient to eliminate the obligation for exchange centers to send the training report, without this implying that they should not have such training, and

That once the opinion of the National Banking and Securities Commission has been heard, I have deemed it appropriate to issue the following:

RESOLUTION THAT REFORMS, ADDS, AND REPEALS VARIOUS OF THE GENERAL PROVISIONS REFERRED TO IN ARTICLE 95 BIS OF THE GENERAL LAW OF CREDIT AUXILIARY ORGANIZATIONS AND ACTIVITIES APPLICABLE TO THE EXCHANGE CENTERS REFERRED TO IN ARTICLE 81-A OF THE SAME LEGISLATION

SINGLE ARTICLE.- The 2nd, fractions I to XIX; 3rd, last paragraph; 4th, first paragraph, fractions I to III and second, fourth, and last paragraphs; 7th; 9th, first paragraph; 11th; 11th-1; 11th-2; 11th-3; 11th-4; 11th-5, becoming 11th-6; 12th, second paragraph; 15th, fourth and last paragraphs; 16th; 17th; 18th, third, fourth, and last paragraphs; 19th, second paragraph; 20th, first paragraph; 25th, first paragraph, fraction IV and second and last paragraphs; 28th, first and last paragraphs; 30th, first paragraph, fractions I, first paragraph, I Bis, II, first paragraph and III and last paragraph; 31st, last paragraph; 34th, third paragraph, fractions I, I Bis, IV and VII and last paragraph; 36th, first paragraph, fraction I; 38th, first paragraph, fractions II, V, IX Bis and X; 45th, first paragraph; 47th; 50th, first and last paragraphs; 51st, first paragraph; 52nd; 53rd, first paragraph; 57th, second paragraph; 59th, second paragraph;
Annex 1; are REFORMED; the 2nd, fractions XX to XXVI; the 4th, second and penultimate paragraphs, shifting the rest in their order; 6th, second paragraph; 7th Bis; 7th Ter; 11th-1, second paragraph, shifting the rest in their order; 11th-5, shifting the following in its order; 15th, fifth paragraph, shifting the rest in their order; 30th, fraction XI; 38th, fractions V Bis and XI; 56th Bis, second paragraph; a Chapter XIII Bis titled "Novel Models"; and are REPEALED the 2nd, fractions V Bis, V Ter, VI Bis, VIII Bis, VIII Ter; 36th, last paragraph; all of them of the General Provisions referred to in Article 95 Bis of the General Law of Credit Auxiliary Organizations and Activities applicable to the Exchange Centers referred to in Article 81-A of the same legislation, to remain as follows:

2nd.- . . .

I.

Archive or Registry, the set of data and documents that are kept or stored in printed format or in electronic, optical, or any other technology media, provided that, in these latter media, it is ensured that the information has remained intact and unaltered from the moment it was generated for the first time in its definitive form and is accessible for subsequent consultation, having as its purpose to integrate, conserve, and evidence the Operations of the Exchange Centers;

II.

Exchange Center, . . .

III. Commission, . . .

IV. Committee, . . .

V.

Control, . . .

V Bis, Repealed.

V. Ter, Repealed.

VI.

Foreign Financial Entity, . . .

VI Bis, Repealed.

VII. Trust, . . .

VIII. Advanced Electronic Signature, . . .

VIII Bis Repealed.

VIII Ter Repealed.

IX. Risk Level, . . .

X.

Monetary Instrument, . . .

XI. Law, . . .

XII. Blocked Persons List, . . .

XIII. Compliance Manual, the document referred to in the 51st of these Provisions;

XIV. Mitigants, . . .

XV. Novel Model, that which for the provision of financial services uses tools or technological means with modalities different from those existing in the market at the time the temporary authorization referred to in the Law to Regulate Financial Technology Institutions is granted;

XVI. Compliance Officer, . . .

XVII. Operations, . . .

XVIII. Unusual Operation, . . .

XIX. Concerning Internal Operation, . . .

XX. Relevant Operation, . . .

XXI. Politically Exposed Person, . . .

XXII. Beneficial Owner, . . .

XXIII. Risk, . . .

XXIV. Ministry, . . .

XXV. Obligated Subjects, the entities or societies subject to the obligations referred to in articles 115 of the Credit Institutions Law, 71 and 72 of the Law to Regulate the Activities of Savings and Loan Cooperative Societies, 124 of the Popular Savings and Credit Law, and 58 of the Law to Regulate Financial Technology Institutions.

XXVI. User, . . .

3rd.- . . .

The policy and guidelines mentioned above must form an integral part of the Exchange Center's Compliance Manual.

4th.- Exchange Centers, taking into account the thresholds established in this provision, as well as the type of User involved, must integrate and conserve an identification file for each of their Users, when these carry out Operations.

To integrate the identification files of the Users, Exchange Centers must comply, at least, with the following:

I.

Regarding those Users who carry out individual Operations, for an amount equal to or greater than the equivalent of one thousand dollars and less than three thousand dollars of the United States of America, or its equivalent in national currency or in the foreign currency in question, Exchange Centers, at the time of carrying out said Operations, must only collect and conserve in the systems referred to in the 38th of these Provisions, the following data that must be obtained from an official identification referred to in fraction III, subsection A, subsubsection b), numeral i., of this provision:

A.

. . .

i.

Paternal surname, maternal surname, if applicable, and name or names without abbreviations.

ii.

Country of birth.

iii.

Nationality.

iv.

Date of birth.

v.

Private address at their place of residence (composed of the name of the street, avenue, or route in question, duly specified; exterior number and, if applicable, interior; neighborhood or urbanization; borough, municipality, or similar political demarcation that corresponds, if applicable; city or population, federal entity, state, province, department, or similar political demarcation that corresponds, if applicable; postal code and country).

vi.

Official identification number, which can only be any of those indicated in fraction III, subsection A, subsubsection b), numeral i., of this provision.

B.

. . .

i.

Trade name or corporate name.

ii.

Federal Taxpayer Registry Key (with homoclave) and, if applicable, tax identification number and/or equivalent, as well as the country or countries that assigned them.

iii.

Serial number of the Advanced Electronic Signature, if they have one.

iv.

Address (composed of the data referred to in numeral v. of subsection A above).

v.

Nationality.

vi.

The data of the person who goes to the Exchange Center on their behalf, in the same terms as those indicated in subsection A above.

C.

. . .

i.

Trust number or reference, and if applicable, Federal Taxpayer Registry Key (with homoclave) and serial number of the Advanced Electronic Signature.

ii.

Trade name or corporate name of the institution, entity, or society acting as trustee.

iii.

Paternal surname, maternal surname, and name or names without abbreviations of the legal representative(s), attorney-in-fact, or fiduciary delegate(s).

II.

Regarding those Users who carry out individual Operations, for an amount equal to or greater than the equivalent of three thousand dollars and less than five thousand dollars of the United States of America, or its equivalent in national currency or in the foreign currency in question, Exchange Centers, in addition to collecting and conserving the data referred to in the previous fraction I, must collect and conserve a copy of the official identification of the natural persons involved in the aforementioned Operations, in the terms of fraction III, subsection A, subsubsection b), numeral i., of this provision.

III. Regarding those Users who carry out individual Operations for an amount equal to or greater than the equivalent of five thousand dollars of the United States of America, or its equivalent in national currency or in the foreign currency in question, the Exchange Center must integrate and conserve an identification file for each of these Users, prior to the celebration of said Operations. To this effect, Exchange Centers must observe that the identification file of each User complies, at least, with the following requirements:

A.

In the case of Users who are natural persons who declare to the Exchange Center to be of Mexican nationality or of foreign nationality in conditions of temporary resident or permanent resident stay in terms of the Migration Law, or in the capacity of diplomatic and consular representative in terms of the Guidelines for the issuance of non-ordinary visas:

a)

The following identification data:

i.

Paternal surname, maternal surname, and name or names without abbreviations.

ii.

Gender.

iii.

Date of birth.

iv.

Federal entity of birth, when applicable.

v.

Country of birth.

vi.

Nationality.

vii.

Occupation, profession, activity, or business sector to which the User is dedicated.

viii.

Private address at their place of residence (composed of the elements established for these purposes in numeral v. of subsection A of the previous fraction I).

ix.

Telephone number(s) where they can be located.

x.

Email, if applicable.

xi.

Unique Population Registry Key and the Federal Taxpayer Registry Key (with homoclave), tax identification number and/or equivalent, as well as the country or countries that assigned them, when available.

xii.

Serial number of the Advanced Electronic Signature, if they have one.

In addition to the above, regarding persons who have their place of residence abroad and, at the same time, have an address in national territory, where they can receive correspondence addressed to them, the Exchange Center must record in the file the data related to said address, with the same elements contemplated in numeral v. of subsection A of the previous fraction I.

b)

Simple copy of the following documents:

i.

Personal identification, which must be, in all cases, an original official document issued by a competent authority, valid on the date of its presentation, containing the photograph, signature, and, if applicable, address of the User themselves.

For the purposes of what is established in this subsection, the following documents issued by Mexican authorities will be considered as valid personal identification documents: the voter credential, the passport, the professional card, the national military service card, the consular enrollment certificate, the military identity card, the card of affiliation to the National Institute of Older Adults, the credentials and badges issued by the Mexican Social Security Institute, by the Institute of Social Security and Social Services for State Workers, by the Institute of Social Security for the Mexican Armed Forces, or by Popular Insurance, the driver's license, the credentials issued by federal, state, and municipal authorities, the identity certificates issued by municipal authorities, and the other national identifications that, if applicable, are approved by the Commission. Likewise, regarding natural persons of foreign nationality referred to in this subsection A, in addition to those previously mentioned in this paragraph, the passport or passport card or the documentation issued by the National Institute of Migration that accredits their migratory status, as well as the accreditation card issued by the Ministry of Foreign Affairs to diplomatic or consular bodies, will be considered as valid personal identification documents.

ii.

Certificate of the Unique Population Registry Key, issued by the Ministry of the Interior, a document in which the assignment of the tax identification number and/or equivalent issued by a competent authority is stated, as well as a certificate of the Advanced Electronic Signature, if they have them. It will not be necessary to present the certificate of the Unique Population Registry Key if it appears in another document or official identification.

Exchange Centers will not be obligated to collect, include, and conserve in the identification file of the corresponding User, a simple copy of the documents referred to in the previous paragraph, provided that the Exchange Centers integrate into it the evidence that the documents and/or the User's data were presented and/or validated before the corresponding authority.

iii.

Proof of address, when the address declared by the User to the Exchange Center does not coincide with that of the identification presented by them or if this does not contain it. In this case, it will be necessary for the Exchange Center to collect and integrate into the respective file a simple copy of a document that accredits the User's address, which can be some receipt for payment for home services such as, among others, electricity supply, telephone, natural gas, property tax, or water supply rights or bank statements, all of them with an age not greater than three months from their date of issuance, or the valid lease contract on the date of presentation by the User, the proof of registration before the Federal Taxpayer Registry, as well as the others that, if applicable, are approved by the Commission.

. . .

iv.

Declaration of the natural person, which can be granted in writing, by electronic, optical, or any other technology means, which can be included in the documentation of the respective Operation, and which, in all cases, the Exchange Center must conserve as part of the User's identification file, in which it is stated that said person acts for these purposes on their own behalf or on behalf of a third party, as the case may be.

In the case where the natural person declares to the Exchange Center that they act on behalf of a third party, said Center must observe what is established in subsection E of this fraction regarding the Beneficial Owner of the resources involved in the corresponding Operation.

v.

In the case where the natural person acts as an attorney-in-fact for another person, the respective Exchange Center must collect and integrate into the identification file of the User in question, a simple copy of the power of attorney or of the certified copy of the document issued by a public notary, as applicable, in the terms established in common legislation, which accredits the powers conferred upon the attorney-in-fact, as well as an official identification and proof of address of this person, which comply with the requirements indicated in this subsection A, independent of the data and documents related to the principal.

B.

Regarding Users who are legal entities of Mexican nationality:

a)

The following identification data:

i.

Trade name or corporate name.

ii.

Commercial activity, activity, or corporate purpose.

iii.

Nationality.

iv.

Federal Taxpayer Registry Key (with homoclave).

v.

Serial number of the Advanced Electronic Signature.

vi.

Address (composed of the name of the street, avenue, or route in question, duly specified, exterior number and, if applicable, interior, neighborhood, borough or municipality, city or population, federal entity, and postal code).

vii.

Telephone number(s) of said address.

viii.

Email, if applicable.

ix.

Date of constitution.

x.

Name or names and paternal and maternal surnames, without abbreviations, of the administrator or administrators, director, general manager, or legal representative who, with their signature, can bind the legal entity for the purposes of celebrating the Operation in question, coming from a valid official personal identification document, issued by a competent authority in accordance with what is established in numeral i., subsubsection b), subsection A, fraction III of this provision.

b)

Simple copy of the following documents:

i.

Notarized copy or certified copy of the public instrument that accredits its legal existence registered in the public registry that corresponds, according to the nature of the legal entity, or of any instrument in which the data of its constitution and its inscription in said registry are stated, or well, of the document that, according to the regime applicable to the legal entity in question, credibly accredits its existence.

In the case where the legal entity is of recent constitution and, in virtue of this, is not yet registered in the public registry that corresponds according to its nature, the Exchange Center in question must obtain a written document signed by a person legally authorized to accredit their personality in terms of the public instrument that accredits its legal existence referred to in subsubsection b), numeral iv., of this subsection B, in which the obligation to carry out the respective registration and provide, in due course, the corresponding data to the Exchange Center itself is stated.

ii.

Tax Identification Card issued by the Ministry and, if applicable, the document in which the assignment of the tax identification number and/or equivalent issued by a competent authority or certificate of the Advanced Electronic Signature is stated.

iii.

Proof of address referred to in numeral vi., of subsubsection a) of this subsection B, in terms of what is stated in numeral iii., of subsubsection b), of subsection A above.

iv.

Notarized copy or certified copy of the instrument containing the powers of the representative or legal representatives, issued by a public notary, when not contained in the public instrument that accredits the legal existence of the legal entity in question, as well as the personal identification of each of said representatives, in accordance with numeral i., of subsubsection b), of subsection A above.

Regarding federal, state, and municipal dependencies and entities, as well as other Mexican legal entities of public law, to accredit their legal existence as well as to prove the powers of their legal representatives and/or attorneys-in-fact, the laws, regulations, decrees, or organic statutes that create and regulate them must be followed.

constitution and operation, and if applicable, a copy of their appointment or public instrument issued by a notary public, as applicable.

Currency Exchanges must record in the User's identification file if the User is another currency exchange, money transmitter, or multiple-object financial company, the registration data granted to them by the Commission or the National Commission for the Protection and Defense of Users of Financial Services, as applicable, which must be obtained from the public records maintained by said commissions.

c)

Information about the User that allows the Currency Exchange to know:

i.

Shareholder structure or partnership interests, as applicable.

ii.

In the event that it has a Risk Grade other than low, its internal corporate structure; that is, the organizational chart of the corporate User, considering at least the full name and position of those individuals who hold positions between the General Manager and the immediate hierarchy below that, as well as the full name and corresponding position of the members of its board of directors or equivalent.

Likewise, Currency Exchanges must identify the Beneficial Owners of their corporate Users that exercise Control over them in terms of the second paragraph of fraction V of the 2nd of these Provisions, in accordance with what is established in subsection E of fraction III of this provision.

When there is no natural person who owns or controls, directly or indirectly, a percentage equal to or greater than 25% of the capital or voting rights of the corporate entity in question, or who by other means exercises Control, direct or indirect, over the corporate entity, it will be considered that the administrator or administrators thereof exercise said Control, understanding that administration is exercised by the natural person designated for such effect by this.

When the designated administrator is a legal entity or Trust, it will be understood that Control is exercised by the natural person appointed as administrator by said legal entity or Trust.

For the purposes of this subsection, Currency Exchanges must obtain a written declaration, by electronic, optical, or any other technology means, from the legal representative of the corporate User in question, indicating who their Beneficial Owners are in terms of this subsection.

In the event that Currency Exchanges have indications that call into question the veracity of the declared information, they must take reasonable measures to determine and identify the Beneficial Owners of the corresponding corporate User.

C.

Regarding Users who are nationals of foreign countries:

a)

For the case of the natural person who declares to the Currency Exchange that they do not have the status of temporary resident or permanent resident in terms of the Migration Law, or as a diplomatic and consular representative in terms of the Guidelines for the issuance of non-ordinary visas:

i.

The respective identification file must contain the same data as those indicated in subsection a) of subsection A of this fraction III, with the exception of the data of State of birth.

ii.

Collect and include in said file a simple copy of the following documents:

ii.1.

Passport or passport card and official document issued by the National Institute of Migration, when they have the latter, which accredits their entry or legal stay in the country or, alternatively, the accreditation card issued by the Secretariat of Foreign Relations to diplomatic and consular bodies.

ii.2.

Document accrediting the User's domicile at their place of residence, in terms of numeral iii., of subsection b) of subsection A of fraction III of this provision.

ii.3.

Declaration in terms of numeral iv., of subsection b), of subsection A of fraction III of this provision.

b)

For the case of foreign legal entities:

i.

The respective identification file must contain the following data recorded:

i.1.

Trade name or corporate name.

i.2.

Commercial activity, activity, or corporate purpose.

i.3.

Nationality.

i.4.

Federal Taxpayer Registry Key (with homoclave) and/or tax identification number and/or equivalent, the country or countries that assigned them, and, if applicable, the serial number of the Advanced Electronic Signature.

i.5.

Domicile (composed of the name of the street, avenue, or route in question, duly specified; exterior number and, if applicable, interior; neighborhood or urbanization; borough, municipality, or similar political demarcation that corresponds, if applicable; city or population, federal entity, state, province, department, or similar political demarcation that corresponds, if applicable; postal code and country).

i.6.

Phone number(s) of said domicile.

i.7.

Email address, if applicable.

i.8.

Date of constitution.

ii.

Collect and include in said file a simple copy of, at least, the following documents:

ii.1.

Document that credibly proves their legal existence, document in which the assignment of the tax identification number and/or equivalent issued by the competent authority is recorded, as well as obtaining the information and collecting the data referred to in subsection c) of subsection B of fraction III of this Provision.

The Currency Exchange must require that the document referred to in the previous paragraph be duly legalized or, in the event that the country where said document was issued is a party to the "Convention Abolishing the Requirement of Legalization for Foreign Public Documents," adopted in The Hague, Netherlands, on October 5, 1961, it will suffice that said document bears the apostille referred to by said Convention.

In the event that the respective User does not present the document duly legalized or apostilled, it will be the responsibility of the Currency Exchange to ensure the authenticity of said documentation.

ii.2.

Proof of domicile referred to in number i.5. of numeral i., of the present subsection b), in terms of what is stated in subsection b), numeral iii., of subsection A of fraction III of this provision, and

ii.3.

Testimony or certified copy of the instrument containing the powers of the representative or legal representatives, issued by a public notary, when not contained in the document that credibly proves the legal existence of the corporate entity in question, as well as the personal identification of said representatives, in accordance with subsection b), numeral i., of subsection A of fraction III or subsection a), numeral ii., number ii.1, of this subsection C, as applicable.

In the case of those legal representatives who are outside the national territory and who do not have a passport or passport card, the personal identification must, in any case, be an original official document issued by the competent authority of the country of origin, valid on the date of its presentation, which contains the photograph, signature, and, if applicable, domicile of the said representative.

For the purposes of the foregoing, driver's licenses and credentials issued by federal or equivalent authorities of the country in question will be considered as valid personal identification documents. The verification of the authenticity of said documents will be the responsibility of the Currency Exchanges.

D.

Regarding the societies, dependencies, and entities referred to in Annex 1 of these Provisions:

a)

The following identification data:

i.

Trade name or corporate name.

ii.

Activity or corporate purpose.

iii.

Federal Taxpayer Registry (with homoclave) tax identification number and/or equivalent, as well as the country or countries that assigned them.

iv.

Serial number of the Advanced Electronic Signature, when they have it.

v.

Domicile (composed of the name of the street, exterior number and, if applicable, interior, neighborhood, city or population, borough or municipality, federal entity, and postal code).

vi.

Nationality

vii.

Phone number(s) of said domicile.

viii.

Email address, if applicable.

ix.

Full name without abbreviations of the administrator or administrators, director, general manager, or legal proxy who, with their signature, can bind the society, dependency, or entity for the purposes of celebrating the Operation in question.

b)

Simple copy of the following documents:

i.

Testimony or certified copy of the instrument containing the powers of the representative or legal representatives, issued by a public notary.

Regarding the representative of a credit institution, the certification of appointment issued by a competent official in terms of article 90 of the Credit Institutions Law.

To accredit the powers of the representatives of federal, state, and municipal public dependencies and entities, as well as of other Mexican legal entities of public law, the provisions of the penultimate paragraph of subsection b), of subsection B, of this fraction III will apply.

ii.

Personal identification of such representatives, in accordance with numeral i., subsection b), of subsection A of this fraction III.

Paragraph repealed.

. . .

E.

Regarding Beneficial Owners, Currency Exchanges must collect the same data and documents as those established in subsections A or C, subsection a) of this fraction III, as applicable. With respect to domicile, it will suffice to obtain the data and the document of the domicile where they can be located.

When the obligation to identify the Beneficial Owner derives from a User classified with a Low Risk Grade, the document referred to in numeral iii., of subsection b), of subsection A of this fraction III and number ii.2., of numeral ii., of subsection b), of subsection C of this fraction III, respectively, shall not be collected.

The foregoing, in accordance with the measures established for such purposes in their Compliance Manual, or in another document or manual prepared by the Currency Exchanges themselves.

Additionally, the Currency Exchange must identify if the Beneficial Owner is a Politically Exposed Person and, if identified as such, must observe what is provided in the 16th and 18th of these Provisions.

Regarding legal entities whose titles representing their share capital or securities representing said shares trade on any stock exchange in the country or in recognized foreign securities markets in terms of the general provisions applicable to stock exchanges published in the Official Journal of the Federation on May 15, 2017, and their respective modifications, as well as those subsidiaries in which they have a majority participation of more than fifty percent in their share capital, Currency Exchanges will not be obligated to collect the aforementioned identification data, considering that they are subject to provisions on stock market information disclosure.

The Secretariat will issue the guidelines that Currency Exchanges may consider for compliance with what is provided in the first paragraph of this subsection, which will be made known through the electronic means established for such effect by the Commission.

F.

Regarding Trusts:

a)

The following identification data:

i.

Number or reference of the Trust and, if applicable, Federal Taxpayer Registry (with homoclave), tax identification number and/or equivalent, the country or countries that assigned them, as well as the serial number of the Advanced Electronic Signature.

ii.

Purpose of the Trust and, if applicable, indicate the vulnerable activity(ies) it conducts in terms of article 17 of the Federal Law for the Prevention and Identification of Operations with Resources of Illicit Origin.

iii.

Place and date of constitution or celebration of the Trust.

iv.

Trade name or corporate name of the fiduciary institution.

v.

Trusted assets (goods and rights).

vi.

Contributions by the settlors.

vii.

Identification data, in terms of this Provision, as applicable, of the settlors, beneficiaries, fiduciary delegates, and, if applicable, members of the technical committee or equivalent governing body, legal representative(s), and legal proxy(ies).

b)

Simple copy of the following documents:

i.

Contract, testimony, or certified copy of the public instrument that accredits the celebration or constitution of the Trust, registered, if applicable, in the public registry that corresponds, or, alternatively, the document that, according to the regime applicable to the Trust in question, credibly proves its existence.

In the event that the Trust is of recent constitution and, by virtue thereof, is not yet registered in the public registry that corresponds to its nature, the Currency Exchange in question must obtain a written document signed by a person legally authorized to accredit their personality in terms of the public instrument referred to in subsection b), numeral iii., of subsection F of this fraction, in which the obligation to carry out the respective registration and provide, in due course, the corresponding data to said Currency Exchange is recorded.

ii.

Proof of domicile, in terms of what is stated in subsection b), numeral iii., of subsection A, in fraction III of this Provision.

iii.

Testimony or certified copy of the instrument containing the powers of the legal representative(s), legal proxy(ies), or fiduciary delegate(s), issued by a public notary, when not contained in the public instrument that accredits the legal existence of the Trust in question, as well as the personal identification of each of said representatives, proxies, or fiduciary delegates, in accordance with subsection b), numeral i., of subsection A, in fraction III of this Provision, and

iv.

Tax Identification Card issued by the Secretariat and, if applicable, the document in which the assignment of the tax identification number and/or equivalent issued by the competent authority is recorded, as well as proof of the Advanced Electronic Signature.

Currency Exchanges must collect the identification data and documents of the beneficiaries who are not individualized in the contract, at the moment when they go to exercise their rights derived from the Trust contract. The obligation established in this paragraph will not be applicable for those Trusts where there is securities intermediation, in which case the obligation will fall on the financial entity that carries out said intermediation.

Currency Exchanges will not be obligated to integrate the identification file when it comes to Trusts in which the contributions destined for labor benefits or social security for workers come from the workers themselves or from the employers, and the settlor is always a public entity that allocates the funds in question for the aforementioned purposes.

Currency Exchanges may comply with the obligation (a) to collect the document referred to in numeral i., of subsection b), of subsection F, of this fraction, and (b) referred to in subsection E of this fraction, respectively, through a certificate signed by the fiduciary delegate and the Compliance Officer of the entity, institution, or society acting as fiduciary, which must contain the information indicated in subsection a) above, as well as the obligation to keep said documentation available to the Secretariat and the Commission, in order to remit it, upon request by the latter, within the timeframe established by the Commission itself.

When the provided identification documents present strikethroughs or amendments, Currency Exchanges must collect another means of identification or, in default thereof, request two banking or commercial references and two personal references, which include the name or names and paternal and maternal surnames, without abbreviations, domicile composed of the same data as those indicated in subsection a), of subsection A, of this fraction III, and phone number of the issuer, whose authenticity will be verified by the Currency Exchanges with the persons who sign such references, before the celebration of the respective Operation.

. . .

Currency Exchanges, when collecting the simple copies of the documents that must integrate the Users' identification files, in accordance with what is stated by this provision, must ensure that these are legible and compare them against the corresponding original documents that they have in view in a presencial manner.

. . .

For the purposes of calculating the amount in United States dollars of the Operations indicated in this provision, the exchange rate to settle obligations denominated in foreign currency payable in the Mexican Republic, published by the Bank of Mexico in the Official Journal of the Federation, on the immediate preceding banking business day to the date on which the Operation is carried out, will be considered.

Currency Exchanges may keep, in their Files or Records, separately the data and documents that must form part of their Users' identification files, without the need to integrate them into a single physical file, provided they have automated systems that allow them to gather said data and documents for timely consultation by the Currency Exchanges themselves or by the Secretariat or the Commission, upon request by the latter, in terms of these Provisions and the others that are applicable.

6th.- . . . .

The conservation of the identification file may be carried out in the Files and Records in accordance with these Provisions.

7th.- Currency Exchanges are prohibited from carrying out anonymous operations, under fictitious names, or in which the User or Beneficial Owner cannot be identified, so they may only celebrate Operations with their Users when they have met the identification requirements for them, in accordance with these Provisions.

7th Bis.- Currency Exchanges may not apply to their Users the simplified measures provided for in this Chapter, when they have a well-founded suspicion or indications that the resources, goods, or values that their Users intend to use to carry out an Operation, could be related to the acts or conduct referred to in articles 139 Quater or 400 Bis of the Federal Penal Code.

The policies, criteria, measures, and procedures that Currency Exchanges develop to determine what is stated in the previous paragraph must be documented in their Compliance Manual.

7th Ter.- Currency Exchanges may suspend the identification process of their possible User, because they reasonably estimate:

I.

That they could be related to acts or conduct referred to in articles 139 Quater or 400 Bis of the Federal Penal Code.

II.

That continuing with the identification process could prevent or alert the User that the Currency Exchange considers that the resources are related to acts or conduct referred to in articles 139 Quater or 400 Bis of the Federal Penal Code.

III.

When they identify the existence of Risks in accordance with the criteria established in the Compliance Manual.

In the event of carrying out the suspension referred to in this provision, they must generate the corresponding 24-hour Unusual Operation Report, with the information they have about the possible User in question, which may be prepared manually.

The report referred to in the previous paragraph must be sent to the Secretariat, through the Commission, within 24 hours counted from the time the Currency Exchange becomes aware of the information indicated in this Provision, through the corresponding official format.

Currency Exchanges, for the purposes of what is established in this provision, must establish in their Compliance Manual, or in another document or manual prepared by the Currency Exchange itself, the policies, criteria, measures, and procedures necessary.

9th.- Currency Exchanges must establish mechanisms to follow up and, if applicable, group the Operations that, individually, their Users carry out in cash in foreign currency or with traveler's checks, for amounts equal to or greater than one thousand United States dollars or its equivalent in national currency or in the foreign currency in question.

. . .

. . .

. . .

. . .

. . .

. . .

11th.- Currency Exchanges will verify that the identification files of their corporate Users, regardless of their Risk Grade, contain all the data and documents provided for in the 4th, if applicable, of these Provisions, as well as that said data and documents are up to date, understanding that Currency Exchanges may choose not to carry out the update of the latter, in case it is a corporate User with a Low Risk Grade. The foregoing, in the terms and conditions that Currency Exchanges establish in their Compliance Manual. Likewise, they will verify, at least once a year, that the identification files of their Users classified as High Risk Grade, are up to date with all the data and documents provided for in the 4th, 18th, and 20th of these Provisions.

If a User carries out Operations on a daily basis with a Currency Exchange, and the latter detects significant changes in the usual transactional behavior of the former, without there being a justified cause for it, or if doubts arise regarding the veracity or accuracy of the data or documents provided by the User themselves, among other circumstances that the Currency Exchange itself establishes in its Compliance Manual, it will reclassify said User into the higher Risk Grade that corresponds, according to the results of the analysis that, if applicable, the Currency Exchange carries out, and must verify and request the update of both the data and identification documents, among other measures that the Currency Exchange deems convenient.

Currency Exchanges must establish in their Compliance Manual, the policies, criteria, measures, and procedures that they will adopt to comply with what is stated in this Provision, including the circumstances in which a visit to the domicile of Users who are classified

as well as High Risk Grade, with the objective of properly integrating the files and/or updating the corresponding data and documents, in which case the results of such visit must be recorded in the respective file.

11th-1.- Currency Exchange Centers must design and implement a methodology to carry out a Risk Assessment of the risks to which they are exposed derived from their products, services, Users, countries or geographic areas, transactions, and shipping or distribution channels with which they operate.

The design of the methodology referred to in the preceding paragraph must be established in their Compliance Manual, or in another document or manual prepared by the Currency Exchange Center, and must establish and describe all processes to be carried out for the identification, measurement, and mitigation of Risks, for which they must take into account the Risk factors identified for this purpose, as well as the information deemed applicable given the context of each Currency Exchange Center contained in the national risk assessment and its updates, which the Secretariat will make known to them through the Commission.

Likewise, Currency Exchange Centers will carry out a Risk Assessment of the risks to which they are exposed in accordance with what is established in this Chapter, prior to the launch or use of new services, Users, countries or geographic areas, transactions, or channels linked to the Currency Exchange Center's Operations.

11th-2.- For the design of the Risk Assessment methodology, Currency Exchange Centers must comply with the following:

I.

Identify the elements and indicators associated with each of them that explain how and to what extent the Currency Exchange Center may be exposed to Risk, considering at least the following elements:

a)

Products and services.

b)

Users.

c)

Countries and geographic areas.

d)

Transactions and shipping or distribution channels linked to the Currency Exchange Center's Operations with its Users.

Within the process of identifying Risk indicators, the total number of products, services, types of Users, countries or geographic areas, transactions, and shipping or distribution channels with which the Currency Exchange Center operates must be considered.

II.

Use a method for the measurement of Risks that establishes a relationship between the indicators referred to in the preceding subsection I and the element to which they belong, as well as assign a weight to each of them consistently based on their importance in describing said Risks. In turn, a weight must be assigned to each of the defined Risk elements consistently based on their importance in describing the Risks to which the Currency Exchange Center is exposed.

III.

Identify the Mitigants that the Currency Exchange Center has implemented at the time of designing the methodology, considering all the policies, criteria, measures, and internal procedures referred to in the 51st of these Provisions, as well as their effective application, in order to establish the effect they will have on the indicators and Risk elements indicated in the preceding subsection I, as well as on the Risk of the Currency Exchange Center.

11th-3.- Currency Exchange Centers must implement the designed methodology and obtain the results thereof in order to know the Risks to which they are exposed. In the implementation of the Risk Assessment methodology, Currency Exchange Centers must ensure:

I.

That there are no inconsistencies between the information they incorporate into this and the information on file in their automated systems.

II.

Use, at least, the information corresponding to the total number of Users, number of operations, and amount operated corresponding to a period that cannot be less than twelve months.

When, as a result of the implementation of the Risk Assessment methodology, the existence of greater or new Risks for the Currency Exchange Centers themselves is detected, they must modify the policies, criteria, measures, and procedures corresponding to them, contained in the Compliance Manual, or in another document or manual prepared by the Currency Exchange Center, in order to establish the Mitigants they deem necessary based on the identified Risks, as well as to maintain them at an acceptable tolerance level in accordance with what is established in the Compliance Manual.

The modifications to the internal policies, criteria, measures, and procedures referred to in the preceding paragraph, derived from the results of the implementation of the Risk Assessment methodology, must be carried out within a period not exceeding twelve months counted from the time the Currency Exchange Center has the results of its implementation and must be clearly identified and indicated, indicating at least the year and month in which the results of the implementation of the methodology that gave rise to said modifications were obtained.

11th-4.- The compliance and results of the obligations contained in this Chapter must be reviewed and updated by Currency Exchange Centers: when the existence of new Risks is detected, when the national risk assessment is updated, or within a period not exceeding 12 months from the time the Currency Exchange Center has the results of its implementation. Such reviews and updates must be in writing and available to the Secretariat and the Commission, upon request of the latter, within the period established by the Commission itself.

The Commission may review and, where appropriate, order Currency Exchange Centers to modify their Risk Assessment methodology or their Mitigants, among other cases, when it does not consider proper Risk administration in the procedure and criteria for carrying out Operations with its Users, which must be consistent with said methodology, as well as to request an action plan for them to adopt reinforced measures to manage and mitigate their Risks.

Currency Exchange Centers must retain the information generated by reason of this Chapter for a period of no less than five years and provide it to the Secretariat and the Commission, upon request of the latter, within the period established by the Commission itself.

11th-5.- Currency Exchange Centers must comply with all obligations contained in these Provisions, in accordance with the results generated by their methodologies referred to in this Chapter.

11th-6.- The Commission, prior to the opinion of the Secretariat, will elaborate guidelines, guides, and/or best practices that Currency Exchange Centers will consider for better compliance with what is provided in this present Chapter, which will be made known through the electronic means established by the same.

12th.- . . .

Such policy must form an integral part of the Compliance Manual of each Currency Exchange Center.

. . .

15th.- . . .

. . .

. . .

Currency Exchange Centers, in the terms provided for in their Compliance Manual, will apply to their Users who have been classified as High Risk Grade, as well as to new Users who meet such character, identification questionnaires that allow obtaining more information about the origin and destination of resources and the activities and Operations they carry out or intend to carry out.

The questionnaires referred to in the preceding paragraph may be carried out by digital or electronic means, in order to ensure truthfulness and security in their preparation, which in any case must contain the express consent of the signatory.

To determine the Risk Grade in which Users should be located, as well as whether they should be considered Politically Exposed Persons, each of the Currency Exchange Centers will establish in its Compliance Manual the criteria conducive to that end, which take into account, among other aspects, the User's background, profession, activity or business sector, the origin and destination of their resources, their place of residence, the methodology referred to in Chapter II Bis of these Provisions, and the other circumstances determined by the Currency Exchange Center itself.

16th.- For cases where a Currency Exchange Center detects that a User meets the requirements to be considered a Politically Exposed Person and, additionally, of High Risk Grade, said Currency Exchange Center must, in accordance with what is established for this purpose in its Compliance Manual, obtain the approval of an executive or equivalent who has specific powers to approve Operations, in order to carry them out.

17th.- Prior to the celebration of Operations with Users who, due to their characteristics, could generate a high Risk for the Currency Exchange Center, at least one executive or equivalent who has specific powers to approve the celebration of said Operations must grant, in writing, in digital or electronic form, the respective approval. Likewise, Currency Exchange Centers must provide in their Compliance Manual the mechanisms for their respective Compliance Officers to have knowledge of those Operations that could generate a high Risk for the Currency Exchange Centers themselves, as well as the procedures that must be carried out to process the approval indicated in this provision.

18th.- . . .

. . .

In the Operations carried out by Users who have been classified as High Risk Grade, Currency Exchange Centers will adopt measures to know the origin of the resources, and will seek to obtain the data indicated in Chapter II of these Provisions, in the terms provided for in their Compliance Manual, or in another document or manual prepared by them, regarding the spouse and economic dependents of the User, as well as the companies and associations with which they maintain patrimonial links, in the case of natural persons, and, in the case of legal entities, their main shareholders or partners, as appropriate, while in the case of Trusts, they will seek to collect the same data regarding the spouse and economic dependents of the settlors and beneficiaries who are natural persons, as well as the companies and associations with which they maintain patrimonial links, and, regarding settlors and beneficiaries who are legal entities, their corporate structure and their main shareholders or partners, in the terms provided for in their Compliance Manual, or in another document or manual prepared by them. In the case of foreign Politically Exposed Persons, Currency Exchange Centers must obtain, in addition to the reference data, the documentation indicated in Chapter II of these Provisions, regarding the natural and legal persons mentioned above in this paragraph.

Without prejudice to the foregoing, in the case of legal entity Users whose share certificates or securities representing such shares trade on any stock exchange in the country or in foreign securities markets recognized as such in terms of the General Provisions applicable to stock exchanges published in the Official Journal of the Federation on May 15, 2017, and their respective modifications, as well as those subsidiaries in which they have a majority participation of fifty percent in their share capital, Currency Exchange Centers will not be obligated to collect the aforementioned identification data, considering that they are subject to provisions on stock market matters regarding information disclosure.

Currency Exchange Centers, in the terms provided for in their Compliance Manual, or in another document or manual prepared by them, must develop mechanisms to establish the degree of Risk of the Operations they carry out with Politically Exposed Persons of Mexican nationality, and for this purpose, Currency Exchange Centers will determine if the transactional behavior reasonably corresponds to the functions, level, and responsibility of these persons, according to the knowledge and information available to said Currency Exchange Centers.

19th.- . . .

Both in the case provided for in the preceding paragraph of this provision, and in that in which doubts arise in the Currency Exchange Center regarding the truthfulness or authenticity of the data or documents provided by the User for identification purposes, or regarding the transactional behavior of the User in question, said Currency Exchange Center must carry out a specific and comprehensive follow-up of the Operations that said User carries out, in accordance with what is established for this purpose in its Compliance Manual and, where appropriate, submit them to the consideration of the Committee, which must rule and, if appropriate, issue the report of Unusual Operation.

20th.- Without prejudice to what is stated in the 4th of these Provisions, Currency Exchange Centers must establish in their Compliance Manual procedures to identify the Beneficial Owners of the resources used by Users in their Operations, for which they must:

I. to III. . . .

25th.- . . .

I. to III . . . .

IV.

Operations carried out by the same User with foreign currency, traveler's checks, and minted coins in platinum, gold, and silver, for multiple or fractional amounts that, for each individual Operation, are equal to or exceed the equivalent of one thousand United States dollars, carried out in the same calendar month that sum, at least, the amount of five thousand United States dollars or its equivalent in the currency in question, provided that they do not correspond to the User's transactional profile, or that it can be inferred from their structuring a possible intention to fractionate the Operations to avoid being detected by the Currency Exchange Centers for the purposes of these Provisions;

V. to XIII . . . .

Each Currency Exchange Center must provide in its Compliance Manual, or in another document or manual prepared by the Currency Exchange Center itself, the mechanisms based on which those Operations that must be presented to the Committee for the purpose of their ruling as Unusual Operations, must be analyzed, including their background and purposes. In any case, the results of said examination must be in writing and available to the Secretariat and the Commission, for at least ten years counted from the celebration of the Committee session in which such results were presented.

. . .

Likewise, in the process of determining Unusual Operations referred to in this provision, Currency Exchange Centers must rely on their Compliance Manual, as well as any other document or manual prepared by the Currency Exchange Center itself, and, in addition to this, they will consider the guidelines prepared for this purpose by the Secretariat and by international organizations and intergovernmental groupings in matters of prevention and combat of operations with proceeds of illicit activities and financing of terrorism, of which Mexico is a member, which the Secretariat provides to them.

28th.- In the event that a Currency Exchange Center has information based on well-founded suspicions or indications, such as concrete facts from which it can be inferred that when attempting to carry out an Operation, the resources might come from illicit activities or might be intended to favor, provide help, assistance, or cooperation of any kind for the commission of the crime provided for in Article 139 Quater of the Federal Penal Code, or that they could fall under the circumstances of Article 400 Bis of the same legal instrument, that same Currency Exchange Center, in the event that it decides to accept said Operation, must send to the Secretariat, through the Commission, within 24 hours counted from the time it knows said information, a report of Unusual Operation, in which, in the column of description of the Operation, the legend "24-hour Report" must be inserted. Likewise, in those cases where the respective Currency Exchange Center does not carry out the Operation referred to in this paragraph, the Currency Exchange Center must present to the Secretariat, through the Commission, the report of Unusual Operation in the terms indicated in this provision regarding said Users and provide, where appropriate, all the information known about them.

. . .

For the purposes of what is provided in this provision, Currency Exchange Centers must establish in their Compliance Manual or in another document or manual prepared by them, those according to which their personnel, once they know the information in question, must make it known immediately to the Compliance Officer of the Currency Exchange Center, so that the latter fulfills the obligation to send the corresponding report.

30th.- . . .

I. Submit to the approval of the audit committee of the respective Currency Exchange Center, the Compliance Manual, as well as any modification to it.

. . .

I. Bis.- Present to the board of directors or sole administrator of the Currency Exchange Center, as appropriate, the results of the implementation of the methodology elaborated and implemented to carry out Risk Assessments referred to in the previous Chapter II Bis;

II. Act as the competent instance to know the results obtained by the internal audit area of the Currency Exchange Center or, where appropriate, by the independent external auditor referred to in the 48th of these Provisions, regarding the valuation of the effectiveness of the policies, criteria, measures, and procedures contained in the Compliance Manual, in order to adopt the necessary actions aimed at correcting flaws, deficiencies, or omissions.

. . .

III.

Know of those Users who, due to their characteristics, are classified with a High Risk Grade, according to the reports submitted to it by the Compliance Officer and, where appropriate, formulate the recommendations it deems appropriate;

IV. to X. . . .

XI.

Ensure that the key referred to in the 56th Bis is requested and kept updated in the name of the Compliance Officer or Compliance Officer designated as interim, as appropriate.

Each Currency Exchange Center must expressly establish in its Compliance Manual, or in another document or manual prepared by the Currency Exchange Center itself; the mechanisms, processes, deadlines, and moments, as the case may be, that must be observed in the performance of the functions indicated in this provision.

31st.- . . .

. . .

. . .

. . .

. . .

Currency Exchange Centers that have fewer than twenty-five people on their staff, whether they perform functions for the same directly or indirectly through complementary service companies, will not be obligated to constitute and maintain the Committee referred to in this provision. In the case provided for in this paragraph, the functions and obligations that should correspond to the Committee in accordance with what is stated in these Provisions, will be exercised by the Compliance Officer, except for that provided in subsection XI of the 30th of these Provisions, which will correspond to the general director or equivalent of the Currency Exchange Center.

34th.- . . .

. . .

. . .

I. Elaborate and submit to the consideration of the Committee the Compliance Manual, which contains the policies of User identification and knowledge, as well as the criteria, measures, and procedures that must be adopted to comply with what is provided in these Provisions;

I. Bis. Submit to the approval of the Committee the methodology designed to carry out the Risk Assessment referred to in the previous Chapter II Bis, as well as the results of its implementation;

II. and III. . . .

IV. Make known to the Committee those Users who, due to their characteristics, are classified with a High Risk Grade for the Currency Exchange Center itself;

V. and VI. . . .

VII. Act as a consultation instance within the Currency Exchange Center regarding the application of these Provisions, as well as of the Compliance Manual;

VIII. to XI. . . .

. . .

. . .

. . .

Each Currency Exchange Center must expressly establish in the Compliance Manual, or in another document or manual prepared by the Currency Exchange Center itself, the procedures according to which the Compliance Officer will perform the functions and obligations established in this provision and the way in which it will document the compliance with them, where appropriate.

36th.- . . .

I. The provision of courses at least once a year, which must be directed especially to the members of their respective boards of directors or sole administrator, as the case may be, executives, officials, and employees, including those who work in public attention areas or resource administration areas, and which contemplate, among other aspects, those related to the content of the Compliance Manual, which Currency Exchange Centers have developed for the due compliance of these Provisions, as well as on the activities and services offered by the Currency Exchange Center.

. . .

II. . . .

Paragraph repealed.

38th.- . . .

I. . . .

II.

Generate and securely transmit to the Secretariat, through the Commission, the information related to reports of Relevant Operations, cash operations with United States dollars provided for in the 23rd of these Provisions, Unusual Operations, and Concerning Internal Operations referred to in these Provisions, as well as that which must be communicated to the Secretariat or to the Commission, in the terms and according to the deadlines established in these Provisions;

As an exception to what is stated in this subsection, Currency Exchange Centers may manually generate the report referred to in the 7th Ter of these Provisions;

III. and IV. . . .

V. Execute the alert system contemplated in the 15th of these Provisions;

V Bis. Contribute to the detection, follow-up, and analysis of possible Unusual Operations and Concerning Internal Operations, considering at least, the historical records of the Operations carried out by the User, the transactional behavior, and any other parameter that can provide more elements for the analysis of this type of Operations;

VI. to IX. . . .

IX. Bis. Provide the information that Currency Exchange Centers will include in the methodology they must elaborate in accordance with what is established in the 11th-1 of these Provisions;

X. Execute an alert system regarding those Transactions intended to be carried out with persons referred to in fraction X of the 25th of these Provisions, as well as with Politically Exposed Persons, in accordance with what is stated in the 55th of these Provisions, as well as with those who are within the List of Blocked Persons, and

XI.

Facilitate the verification of the data and documents provided by the User, which the Exchange Center has cross-referenced against the corresponding original documents.

45th.- Exchange Centers must adopt selection procedures to ensure that their personnel have the necessary technical quality and experience, as well as integrity, to carry out the activities corresponding to them, which must include obtaining a signed declaration from the official or employee in question, in which they will record information regarding those financial entities or companies referred to in Article 95 Bis of the Law in which they have previously worked, if applicable, as well as the fact of not having been sentenced for property crimes or disqualified from exercising commerce as a result of non-compliance with legislation or to hold a job, position, or commission in public service, or in the Mexican financial system. To this effect, the aforementioned selection procedures must be included in the Compliance Manual, or in another document or manual prepared by the Exchange Center itself.

...

47th.- Exchange Centers are obligated to preserve for a period of no less than ten years, counted from the execution of the Transaction carried out by their Users, the following:

I.

The documentation and information that certifies the Transaction in question once it has been concluded.

II.

The data and documents that make up the identification files of their Users, which must be preserved for a period of no less than ten years counted from the date on which the User carries out the Transaction in question.

The identification file that Exchange Centers must preserve in accordance with this provision must allow the identification of the User, as well as knowledge of the Transactions they carry out with the Exchange Center.

III.

The historical records of the Transactions they carry out with their Users.

IV.

Copies of reports of Relevant Transactions, Transactions in cash with United States dollars, Unusual Transactions, Concerning Internal Transactions, and total amounts of foreign currencies, as referred to in these Provisions, as well as the original or copy or accounting or financial record of all supporting documentation, which must be identified and preserved as such by the Exchange Center itself for the same period.

The records of the reports submitted in accordance with these Provisions, as well as the records of the Transactions concluded, must allow knowledge of the manner and terms in which they were carried out, in accordance with the applicable legal provisions.

The preservation provided for in this provision may be carried out by electronic or digital means, guaranteeing the security of the information and documentation collected from the User.

To this effect, Exchange Centers will comply with the criteria that, in accordance with the Law or these Provisions, are applicable.

50th.- Exchange Centers must send to the Ministry, through the Commission and through the format that the Ministry makes known for such effect, information on the identity of the person or group of persons who exercise control over them, as well as any change in said persons, within the twenty business days following the date on which the Commission grants the registration referred to in Article 81-B of the Law or within the ten business days following that in which the respective shareholders or partners communicate that situation to the person in charge of the administration of the Exchange Center in question.

...

Any Exchange Center, within the three business days following that in which it has registered in the registry referred to in Article 128 of the General Law of Commercial Companies, the transmission of any of its shares for more than two percent of its paid-up capital, must send to the Ministry, through the Commission, the information relating to said transmission through electronic means and in the format that, for such effect, the Ministry issues.

51st.- Each Exchange Center must prepare and send to the Commission, through the electronic means indicated by it, a document in which said Exchange Center develops its respective policies for the identification and knowledge of the User, as well as the criteria, measures, and internal procedures that it must adopt to comply with what is provided in these Provisions and to manage the Risks to which it is exposed in accordance with the results of the implementation of the methodology referred to in Chapter II Bis of these Provisions.

...

...

...

...

...

...

...

...

...

...

52nd.- The Commission will be empowered to directly require Exchange Centers or through the association to which, if applicable, they are affiliated, to make modifications to their Compliance Manuals, as well as to the other documents indicated in these Provisions, when in its judgment it is necessary for the correct application of them.

53rd.- The Commission, in the exercise of the supervisory powers conferred upon it by the Law and other legal instruments, will monitor that Exchange Centers, including, if applicable, their offices, branches, agencies, subsidiaries, locations, and establishments located both in national territory and abroad, comply with the obligations established in these Provisions, in their Compliance Manual, as well as in any other document in which criteria, measures, and procedures related to the compliance with these Provisions are established, and will impose the corresponding sanctions for non-compliance with the aforementioned obligations, in the terms indicated in the Law, and, likewise, may request at any time the information or documentation necessary for the development of its powers.

...

56 Bis.- ...

Likewise, Exchange Centers must ensure that the key referred to in the previous paragraph remains updated in the name of the Compliance Officer or Compliance Officer who is designated as interim, as appropriate.

Chapter XIII Bis

Novel Models

56 Ter.- Exchange Centers that intend to obtain authorization from the Commission so that, through Novel Models, they carry out any of the Transactions referred to in fraction XVII of the 2nd of these Provisions must:

I.

Identify and evaluate the risk to which they are exposed, prior to the launch of the product or service in question through Novel Models. The evaluation referred to in this fraction must be carried out in accordance with Chapter II Bis of these Provisions.

II.

Present the result of the evaluation referred to in the previous fraction to the Commission along with its request for authorization.

III.

Comply with these Provisions, according to the cases, forms, terms, deadlines, conditions, and exceptions that the Commission indicates in the respective authorization, prior to the opinion of the Ministry.

57th.- ...

Exchange Centers must adopt and implement mechanisms that allow the identification of Users who are within the List of Blocked Persons, as well as any third party acting on behalf or for the account of the same, and those Transactions that they have carried out, carry out, or intend to carry out. These mechanisms must be provided for in the Compliance Manual of the Exchange Center.

59th.- ...

Exchange Centers that, in terms of this provision, have suspended acts, Transactions, or services with their Users, must immediately make this situation known to them in writing or through electronic or digital means, informing said Users that they may go before the competent authority for the effects of the 60th of these Provisions.

TRANSITIONAL PROVISIONS

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

Second.- The guidelines, interpretations, and criteria issued by the Ministry or by the Commission, based on what is provided in the Resolution of April 10, 2012, and subsequent Resolutions through which the General Provisions referred to in Article 95 Bis of the General Law of Organizations and Auxiliary Credit Activities applicable to exchange centers referred to in Article 81-A of the same instrument have been added or reformed, will continue to be applicable insofar as they do not oppose what is established in this Resolution.

Third.- Exchange Centers must comply with the obligations contained in this Resolution, in the terms and in accordance with the deadlines indicated below:

I.

Four months counted from the entry into force of this Resolution to modify the Compliance Manual and present it to the Commission.

II.

Nine months counted from the date of entry into force of this Resolution, to modify the methodology referred to in Chapter II Bis.

III.

Eighteen months counted from the date of entry into force of this Resolution, to update the automated systems referred to in the 38th of the Provisions.

Fourth.- Exchange Centers are obligated to send the report referred to in the 7th Ter of these Provisions, once the Ministry makes known the guide or guidelines for such effect through the electronic means indicated for such effect.

Annex 1

The simplified regime referred to in subsection D of fraction III, of the 4th of these Provisions, will apply to the following societies, departments, and entities:

1. Financial Technology Institutions

2. Holding Companies of Financial Groups

3. Investment Funds

4. Investment Societies Specialized in Retirement Funds

5. Investment Fund Operating Societies

6. Distributing Societies of Investment Fund Shares

7. Credit Institutions

8. National Development Bank for Agriculture, Rural, Forestry, and Fisheries

9. Brokerage Houses

10. Exchange Houses

11. Retirement Fund Administrators

12. Insurance Institutions

13. Mutual Insurance Societies

14. Surety Institutions

15. General Warehouses

16. Savings and Loan Cooperative Societies

17. Popular Financial Societies

18. Community Financial Societies

19. Regulated and Unregulated Multiple-Object Financial Societies

20. Credit Unions

21. Securities Issuers

22. Foreign Financial Entities

23. Federal, state, and municipal public departments and entities, as well as other Mexican legal persons of public law

24. Stock Exchanges

25. Securities Depository Institutions

26. Societies that administer systems to facilitate operations with securities

27. Central Counterparties of Securities

28. Societies authorized to operate with Novel Models in accordance with Title IV of the Law to Regulate Financial Technology Institutions.

Mexico City, March 11, 2019. - The Secretary of Finance and Public Credit, Carlos Manuel Urzúa Macías. - Rubric.

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