On March 25 of this year, the National Banking and Securities Commission (the “CNBV”) published in the Official Federal Gazette (the “DOF”) the Resolution amending the General Provisions applicable to Financial Technology Institutions (the “Resolution” and the “Financial Technology Institutions Circular” or “Circular”, respectively), pursuant to the Law Regulating Financial Technology Institutions published in the DOF on March 9, 2018. This Resolution establishes conditions for addressing the risks of and vulnerability to possible attacks on information technology programs and systems and increasing the security of the operations of Crowdfunding Institutions (the “IFC”) with their clients, establishing a legal framework on information security, use of electronic media, contracting services with third parties, disclosure of information and regulatory reports that must be rendered to the CNBV.
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