HEREBY
April 15th 2019.
On April 15, 2019, were be will be published in the General Provisions, will apply the Credit (Single Circular of Banks-CUB), and the General Provisions, in the use of electronic system of authorizations for the organization, operation and operation of the entities. Those that appear briefly in the following lines:
- Provisions of a general nature to credit institutions [CUB (initials in Spanish)].
The resolution modifies article 315 Bis of this order, which is part of the section that regulates the operations of the Electronic Banking service. Said article establishes the accumulated daily limits that the Entities regulated by the CUB must establish in the case of payment orders that are made in ATMs. Specifically, fraction I is modified, which now simplifies the data of the beneficiaries that the Client must provide.
Previously, the full name, the date of birth, the mobile phone line number and the individual amount assigned to each one was requested. Currently, seeking to make more flexible the operations carried out by the Entities, only the full name of the beneficiary, the Mobile Phone line number and the individual amount assigned to each one will be requested.
Published in DOF on April 12, 2018: «I. The ordering clients must register the instructions for the payment of the order indicating the data of the beneficiaries, including full name, date of birth and mobile phone line number. Likewise, the individualized amount assigned to each one of them must be indicated, which may not exceed the equivalent in national currency to the Monetary Operations of Medium Amount”
Modification
of April 12, 2019: «I. The ordering clients must register the instructions
for the payment of the order indicating the data of the beneficiaries,
including full name and Mobile Phone line number. Likewise, the individualized
amount assigned to each one of them must be indicated, which may not exceed the
equivalent in national currency to the Monetary Operations of Medium Amount»
- General provisions applicable to the use of the Electronic Authorization System for the organization, operation and operation of entities
These provisions are intended to establish and regulate the use and operation of the Electronic System of Authorizations through which the Entities can present before the National Banking and Securities Commission (CNBV), the documentation and necessary information requested within the authorization process for the organization. , operation and operation thereof or any other type of authorization that it is competent to grant to the CNBV, in terms of the applicable laws.
The resolution seeks to streamline the authorization processes that are carried out before the CNBV, while at the same time seeking to promote the proper integration of the files of the users who participate in the operations. Concerning, the resolution affects the first, second and third articles of the Provisions, which cease to refer to the Entities processing «authorizations for their organization, operation and operation», to now contemplate that through the Electronic System, the Entities they will be able to process «authorizations that it is competent to grant to the CNBV». This procedure is directly related to Article 6 of the same system, which also modified, contemplates that the Entities that intend to use the Electronic System must, first, process before the Commission a username and password, through which it will give validity to the actions you carry out through this System.
The processing of these identification elements is done by submitting a letter addressed to the CNBV, which must be done in terms of Annex 1 of the Provisions. In said Annex, in the Letter Protest for a Physical Person, the fraction II of the content with which the aforementioned document must count was modified, to read as follows:
Published in DOF on April 12, 2018: «II. The full conformity to submit and process the request for authorization to organize, operate and operate as (type of Entity) through the Electronic System, in accordance with the instructions established by the system itself. «
Modification of April 12, 2019: «II. Full compliance to submit and process the authorization request for [object of the authorization] through the Electronic System, in accordance with the instructions established by the system itself. «
Regarding the Protest Letter for Moral Persons, section II of the content of the document was also amended to read as follows:
Published in DOF on April 12, 2018: «II. The full agreement of my represented to present and process the request for authorization to [organize, operate and function as (type of Entity)] [that the savings and loan cooperative (name) or the community financial society (name) continue to perform its operations with a level other than the basic one], through the Electronic System, in accordance with the instructions established by the System itself. «
[1] In accordance with Article 2 of the Provisions, by entities refers to the institutions of multiple banking, brokerage firms, investment fund operating companies, companies that distribute shares of investment funds, valuation companies of shares of investment funds, companies that administer systems to facilitate transactions with securities, securities rating institutions, savings and loan cooperative societies with levels of operation I to IV, credit unions, popular financial corporations and community financial societies with levels of operation I to IV, financing institutions collective, electronic payment fund institutions and companies authorized by the Commission to operate with novel models.
Modification of April 12, 2019: «The full conformity of my represented to present and process the authorization request for [object of the authorization] [organize, operate and function as (type of Entity)] [that the cooperative savings society] and loan (name) or the community financial company (name) continue to perform its operations at a level other than the basic one], through the Electronic System, in accordance with the instructions established by the system itself.
Full compliance to submit and process the respective authorization request through the Electronic System, in accordance with the instructions established by the System itself».
We remain attentive to any questions or comments.
Legal & Compliance Advisors.