Resolution reforming and adding the General Provisions referred to in Article 115 of the Credit Institutions Law

DOF: 03/03/2022

RESOLUTION reforming and adding the General Provisions referred to in Article 115 of the Credit Institutions Law

A seal bearing the National Coat of Arms appears at the margin, which reads: United Mexican States.- TREASURY.- Ministry of

Treasury and Public Credit.

RESOLUTION REFORMING AND ADDING THE GENERAL PROVISIONS REFERRED TO IN ARTICLE 115 OF THE CREDIT INSTITUTIONS LAW

ROGELIO EDUARDO RAMÍREZ DE LA O, Secretary of Treasury and Public Credit, based on the provisions of articles 31, sections VII and XXXII, of the Organic Law of the Federal Public Administration; 115 and 115 Bis of the Credit Institutions Law, in exercise of the powers conferred upon me by
article 6, section XXXIV, of the Internal Regulations of the Ministry of Treasury and Public Credit, and
with the prior opinion of the National Banking and Securities Commission issued via letter number 213-2/10039579/35/2021 dated December 20, 2021; and

CONSIDERATIONS

That Mexico is a country that has historically been considered a strategic territory for migrants from various countries who wish to reach the United States of America as their destination country.

That, due to various adverse conditions in the migrants' countries of origin, they have concentrated in Mexican territory and have requested refugee status under the terms of the Law on Refugees, Complementary Protection and Political Asylum, which has resulted in a relevant increase in the number of refugees in Mexico.

That within the international protection of refugees in Mexico, among other things, is included the promotion of actions that favor their social and economic integration and coexistence, temporarily or permanently, within national territory.

That, likewise, Mexico receives as repatriates national emigrants who return to national territory upon request of the immigration authorities of the country in which they were located, some without the necessary documentation to be identified and reintegrated into the labor and economic life of Mexico. For this reason, the Government of Mexico promotes actions to assist and reintegrate these individuals, among other things, to guide them regarding employment and housing options within national territory.

That, in this sense, on October 18, 2021, the "Modification to the Normative Instruction for the Assignment of the Unique Population Registry Key" was published in the Official Gazette of the Federation to provide for the requirements for the assignment of the Temporary Unique Population Registry Key, which is assigned individually and temporarily, for a period not exceeding 365 natural days to Mexican repatriates and for a period not exceeding 180 natural days, to foreign persons applying for refugee status and complementary protection under the circumstances provided for in said Instruction.

That, derived from the above and with the aim of promoting financial inclusion and international protection for refugees in Mexico and Mexican repatriates, as well as based on the application of a risk-based approach, it is necessary to modify the General Provisions referred to in Article 115 of the Credit Institutions Law, so that credit institutions can obtain the identification data of these individuals, from the official document issued by the National Institute of Migration that accredits the entry or legal stay of refugees, without it being necessary to additionally present a passport or passport card and from the Unique Population Registry Key Temporary referred to in the Normative Instruction for the Assignment of the Unique Population Registry Key; this, without prejudice to compliance with other obligations in matters of prevention of operations with funds of illicit origin and financing of terrorism provided for in these Provisions.

That on May 12, 2021, the Bank of Mexico published, in the Official Gazette of the Federation, reforms to Circular 3/2012 to provide, among other things, for the offering of prepaid cards denominated in national currency in favor of foreign persons entering the country, with the objective of (i) expanding the game of payment instruments available to them, and (ii) benefiting Mexican workers in tourist zones.

That, in this sense, it is necessary to recognize this new circumstance of prepaid cards denominated in national currency in favor of foreign persons entering the country in the General Provisions referred to in Article 115 of the Credit Institutions Law, so that credit institutions offering these cards comply with the obligation to establish mechanisms to monitor the purchase and fund reload operations that, individually, clients or users perform with these payment instruments.

That, in accordance with Recommendation 4 of the Financial Action Task Force (FATF) and the content of the Mutual Evaluation Report of Mexico, issued by this intergovernmental body in January 2018, it is necessary to strengthen the legal framework regarding the composition of the Blocked Persons List, given that our country, as a member of the FATF, has recognized the formation of shell companies as a generalized technique to carry out operations with funds of illicit origin; in this sense, the circumstances for inclusion and removal from the Blocked Persons List are added for taxpayers referred to in paragraphs four and six of article 69-B of the Federal Tax Code, this to prevent the commission of the crimes of operations with funds of illicit origin and financing of terrorism.

That, with the objective of complying with Recommendation 18 of the FATF, its Interpretative Note, and the content of the Mutual Evaluation Report mentioned in the previous consideration, it is necessary to strengthen the legal framework regarding the exchange of information that credit institutions can perform in accordance with articles 52 and 115 Bis of the Credit Institutions Law and in terms of the General Provisions referred to in Article 115 of the Credit Institutions Law, with the purpose of strengthening measures to prevent and detect acts, omissions, or operations that could favor, provide help, assistance, or cooperation of any kind for the commission of the crimes of operations with funds of illicit origin and financing of terrorism.

That therefore, the possibility is recognized for credit institutions to exchange information regarding: (i) the background or known activity of clients and users; (ii) statistical information on reports of unusual and 24-hour operations of their clients and users; (iii) reports on internal concerning operations of their directors, officials, and employees, and (iv) the circumstances that were considered when determining the respective unusual or internal concerning operation.

That in attention to article 78 of the General Law for Regulatory Improvement and with the purpose of fulfilling the regulatory simplification requirement for the issuance of this Resolution, the savings generated in the "Resolution reforming and adding the General Provisions referred to in Article 115 of the Credit Institutions Law", adjudicated by the National Commission for Regulatory Improvement in file CONAMER/22/0264, with an amount of $113,117,262.30 pesos, will be taken into account.

RESOLUTION REFORMING AND ADDING THE GENERAL PROVISIONS REFERRED TO IN ARTICLE 115 OF THE CREDIT INSTITUTIONS LAW

SINGLE ARTICLE. - The 14th Bis, section II, first paragraph; 19th, first paragraph; 25th Bis, fifth paragraph; 38th, sections XIII and XIV; 57th, first paragraph; 62nd, first and second paragraphs and sections I, II, III, IV and V; 62nd Sexies, first paragraph; 71st, first paragraph, sections V and VI; 74th, first paragraph sections III and IV, Annex 3, section I, numeral iii., subsection b), second paragraph, are REFORMED, and the 38th, first paragraph, section XV; 57th, second and third paragraphs, with the last one renumbered in order; 62nd, second paragraph, section VI and third paragraph, with the others renumbered in order; 62nd Septies; 62nd Octies; 71st, first paragraph, section VII, and 74th, first paragraph, section V, all of them of the General Provisions referred to in Article 115 of the Credit Institutions Law, are ADDED, to read as follows:

14th Bis.-

...

I.

...

II. Regarding accounts classified as level 2 opened by Clients who are natural persons, whose
operation is limited to credits equal to the equivalent in national currency to three thousand Investment Units per Client, during the course of a calendar month, the Entities may compile the respective identification files for their Clients solely with the data relating to the full name, without abbreviations, date of birth, and address, which must be composed of the elements referred to in the 4th of these Provisions. In this case, the data relating to the Client's name and date of birth must be obtained from (i) an official identification document as indicated in the cited 4th of these Provisions; (ii) the valid temporary certificate of the unique population registry key for natural persons of Mexican nationality repatriated, issued by the National Population Registry, or (iii) the official document issued by the National Institute of Migration with which natural persons of foreign nationality accredit their entry or legal stay in the country, which the Ministry will make known to the Entities through the Commission.

...

...

...

III.

...

...

19th.- Entities that issue or commercialize bank prepaid cards in foreign currency or in national currency for natural persons of foreign nationality in the latter case, in accordance with the regulations of the Bank of Mexico, must establish mechanisms to monitor the operations of purchase and fund reload that, individually, their Clients or Users perform with these payment instruments. In the case of Users who fall under the aforementioned circumstance, the Entities must collect and preserve in the systems referred to in the 51st of these Provisions, the data indicated in the 17th of the cited Provisions, whether they are natural persons, legal entities, or Trusts, including the corresponding information for third parties who, through the User, carry out the operation in question.

...

...

...

25th Bis.- ...

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...

...

Additionally, Entities must carry out the Risk Grade evaluation at least every six months, in order to determine whether it is necessary or not to classify their Clients in a different Risk Grade. The frequency of the evaluation must be higher when the Risk Grade classification is also higher. As part of the evaluation referred to in this paragraph, Entities may consider the information they collect through the information exchange processes referred to in Chapter XIII of these Provisions.

...

...

38th.- ...

I. to XII.

...

XIII.
The conditions under which other Clients who have stated they are dedicated to the same activity, profession, or commercial business, or have the same corporate object, operate;

XIV. When it is intended to carry out Operations by Clients or Users who are within
the Blocked Persons List, and

XV. In its case, the information that the Entity collects through the information exchange processes
referred to in Chapter XIII of these Provisions.

...

...

...

57th.- Entities 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 assigned to them, for which they may take into account, if applicable, the information they collect in accordance with the 62nd Septies of these Provisions.

The procedures referred to in the previous paragraph must include obtaining a signed declaration by the official or employee in question, in which they will record information relating to any other Entity or Obligated Subject in which they have previously worked, if applicable, as well as the fact of not having been sentenced for property crimes or disqualified from conducting business as a result of non-compliance with legislation or to hold employment, position, or commission in public service, or in the Mexican financial system.

To this effect, the aforementioned selection procedures must be included in the Entity's Compliance Manual, or in another document or manual prepared by the Entity itself.

...

62nd.- Entities may exchange information on Client and User Operations, as well as on their background or known activity by the Entity itself, for which they must limit themselves solely and exclusively to cases where the purpose is to strengthen measures to prevent and detect acts, omissions, or operations that could update the circumstances provided for in articles 139 Quáter or 400 Bis of the Federal Penal Code and 52 of the Law.

The exchange of information will be carried out in accordance with the terms and conditions indicated in the provisions 62nd Bis to 62nd Octies, or as the case may be, in accordance with the following:

I. It may be carried out between two or more Entities.

II. It may be requested only by officials authorized for such purposes, specifying the reason and
the type of information required. The request referred to in this section may be sent electronically or digitally.

III. The response to the information request made by an Entity must be sent by officials
authorized for such purposes, within a period that must not exceed 30 natural days counted from the date on which it was requested. The response to the request referred to in this section may be sent electronically or digitally.

IV. The information provided in terms of what is stated in this provision may only be used by the Entity that requested it, unless it is established that it is information that can in turn be shared with other Entities.

V. Entities may, without needing to receive the request referred to in section II of this
Provision, share with other Entities the information they consider relevant for the aforementioned purposes.

VI. The exchange of information will be carried out through the technological platform established for this purpose by the Entities, as well as in accordance with the terms and conditions agreed upon by them, provided that the confidentiality of the information is ensured.

Entities must consider the information referred to in this Provision as part of the analysis that could result in the generation of an alert for possible Unusual Operations or Internal Concerning Operations, in accordance with the criteria they establish in their Compliance Manual.

...

...

62nd Sexies.-

Entities that are part of financial groups in terms of the Law to Regulate Financial Aggregations may exchange any type of information on the Operations they perform with their Clients and Users and their background or known activity by the Entities themselves, as well as statistical information on the reports referred to in the 37th, 41st, and 42nd of these Provisions, and on the circumstances that were considered when determining the respective Unusual or Internal Concerning Operation, with other financial entities that are part of the same group that are authorized to do so in accordance with the applicable provisions, in matters of prevention of operations with funds of illicit origin and financing of terrorism, provided that they enter into an agreement among themselves in which they stipulate the following:

a)

and b)

...

...

...

62nd Septies.- Entities may exchange statistical information on the reports referred to in the 37th, 41st, and 42nd of these Provisions, as well as on the circumstances that were considered when determining the respective Unusual or Internal Concerning Operation.

The exchange of information carried out in accordance with this Provision will be carried out through the technological platform referred to in section VI of the 62nd of these Provisions, as well as in accordance with sections I to V of said Provision, and must be limited solely and exclusively to cases where the purpose is to strengthen measures to prevent and detect acts, omissions, or operations that could update the circumstances provided for in articles 139 Quáter or 400 Bis of the Federal Penal Code and 52 of the Law.

When an Entity shares with another or other Entities the information referred to in this Provision, the former must preserve all supporting documentation, which must be available to the Ministry and the Commission, upon request by the latter, within the period established by the Commission itself.

The Entity may preserve the information and documentation indicated in this Provision in the Files or Registers it maintains for the purpose of complying with these Provisions, guaranteeing the security and preservation of the information.

Entities must consider the information referred to in this Provision as part of the analysis that could result in the generation of an alert for possible Unusual Operations or Internal Concerning Operations, in accordance with the criteria they establish in their Compliance Manual.

62nd Octies.- Entities may exchange information on the background of their Clients or Users or known activity by the Entities themselves, as well as statistical information on the reports referred to in the 37th and 41st of these Provisions and on the circumstances that were considered when determining the respective Unusual Operation, through electronic means and in the official format issued for this purpose by the Ministry, with the following persons:

I. Foreign financial institutions referred to in article 45-A, section II of the Law, when they are subsidiaries of those;

II. Foreign financial Entities in which they hold direct or indirect investments in shares representing their social capital, as well as with those financial intermediaries that are their subsidiaries, in terms of what is established in article 89 of the Law, and

III. Foreign Financial Entities with which they perform correspondent operations.

Entities that share information in accordance with this Provision must agree, among themselves, on the confidential treatment of the exchanged information and the positions of the officials authorized by both parties to carry out the exchange of information. Likewise, Entities must notify the Commission of the aforementioned agreements prior to the exchange of information being carried out, using the official format and through the means established for this purpose.

The exchange of information carried out in accordance with this Provision must be limited solely and exclusively to cases where the purpose is to strengthen measures to prevent and detect acts, omissions, or operations that could update the circumstances provided for in articles 139 Quáter or 400 Bis of the Federal Penal Code and 52 of the Law.

Entities must consider the information referred to in this Provision as part of the analysis that could result in the generation of an alert for possible Unusual Operations, in accordance with the criteria they establish in their Compliance Manual.

71st.- ...

I. to IV.

V. Those that the competent national authorities determine have carried out or are carrying out
activities that form part of, assist, or are related to the crimes of financing of terrorism or operations with funds of illicit origin, provided for in the Federal Penal Code;

VI. Those that omit to provide information or data, conceal it, or prevent knowledge of the origin,
location, destination, or ownership of funds, rights, or assets that come from crimes of financing of terrorism or operations with funds of illicit origin, provided for in the Federal Penal Code or those related to them, and

VII. Those that appear on the list of taxpayers referred to in the fourth paragraph of article 69-B of the Federal Tax Code.

74th.-

...

I. and II. ...

III. When so resolved in accordance with the procedure referred to in the 73rd of these
Provisions;

IV. When so determined by the competent judicial or administrative authority, and

V. Are in the circumstance of the sixth paragraph of article 69-B of the Federal Tax Code.

...

ANNEX 3

ELABORATION, USE, VALIDATION, AND DOCUMENTATION OF THE MODEL OF CLIENT RISKS

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I.

...

i.

...

ii.

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iii. ...

a)

...

b) ...

Entities must describe the circumstances in which their personnel may invalidate or nullify the results of the classification process, specifying who, how, and to what extent they will be authorized to do so. In all cases, Entities must have guidelines and processes that allow them to study those cases that update the described circumstances, for which they may consider the information they collect through the information exchange processes referred to in Chapter XIII of the present Provisions.

...

...

II. to IV.

...

TRANSITIONAL PROVISIONS

First. - This Resolution will enter into force the day after its publication in the Official Gazette of the Federation except for what is provided in the following Transitional Provisions.

Second. - The guidelines, interpretations, and criteria issued by the Ministry or by the Commission, based on the provisions of the Resolution of April 20, 2009, and subsequent Resolutions through which they have been added or reformed the General Provisions referred to in Article 115 of the Credit Institutions Law, will remain applicable insofar as they do not conflict with what is established in this Resolution.

Third. - Entities will have twelve months counted from the entry into force of this Resolution to modify the Compliance Manual and present it to the Commission, to modify the

methodology referred to in Chapter II Bis of the Provisions, and to update the automated systems referred to in the 51st of the Provisions.

Fourth. - Entities may carry out the exchange of information referred to in the 62nd and 62nd Septies of these Provisions under the terms in which, prior to the publication of this Resolution, they carried out the exchange of information of the 62nd of these Provisions, until such time as the Entities implement the technological platform referred to in the third paragraph of the 62nd of this Resolution.

Fifth. - The exchange of information referred to in the 62nd Octies of these Provisions may be carried out until such time as the Secretariat and the Commission make known the electronic means and issue the official formats for such purposes.

Mexico City, February 21, 2022. - The Secretary of Finance and Public Credit, Rogelio Eduardo Ramírez de la O. - Signature.

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