On May 20, 2020, the Ministry of Finance and Public Credit ("SHCP") published the "Resolution issuing the information and disclosing the electronic means to report the composition of and changes to the communication and control committee, the appointment and revocation of the compliance officer, representative, or interim compliance officer; the identity of the person or group of persons exercising control over the entity, as well as the transfer of shares in excess of two p
The Resolution sets forth the formats and means by which the parties subject to anti-money laundering obligations, in accordance with the various general administrative provisions (the "Provisions"), including brokerage firms, currency exchange houses, money transmitters, general deposit warehouses, credit institutions, popular financial companies, multiple-purpose financial companies, and investment advisors (the "Obligated Parties"), shall comply with their notification and reporting obligations to the SHCP, through the National Banking and Securities Commission (the "Commission"). Such obligations include notifying the SHCP, through the Commission, of: (i) the composition of and changes to their Communication and Control Committee; (ii) the appointment or revocation of the Compliance Officer, Representative, or Interim Compliance Officer, as applicable; (iii) the identity of the person or group of persons exercising control over the entity; and (iv) any transfer of its shares or equity interests equivalent to more than 2% (two percent) of its paid-in capital stock; as well as various identification data relating to such composition, changes, appointments, revocations, and transfers, and to the persons involved therein. The official format to be used to submit the aforementioned information, as well as the specifications for completing and filing it, will be available in the "notices" section of the website corresponding to the Inter-Institutional Information Transfer System (SITI PLD/FT) maintained by the Commission in its capacity as supervisor in matters of prevention of transactions with resources of illicit origin and prevention of terrorism financing. Each Obligated Party shall submit the referenced information through its Compliance Officer, Representative, or Interim Compliance Officer, as applicable, as of June 1, 2020 and in accordance with the terms set forth in the Provisions specifically applicable to it, and may submit each complete official format only once and without any possibility of subsequent modification. We will remain attentive to this matter and will keep you informed in this regard. For additional information, please contact our experts: Diego Sierra, Partner: +52 (55) 5258 1039 | dsierra@vwys.com.mx Luis Burgueño, Partner: +52 (55) 5258 1003 | lburgueno@vwys.com.mx Santiago Barraza, Associate: +52 (55) 5258 1027 | sbarraza@vwys.com.mx
