On October 14 (fourteen), 2022 (two thousand twenty-two), the Provision on Registration before the National Commission for the Protection and Defense of Users of Financial Services (hereinafter "CONDUSEF") was published in the Official Gazette of the Federation.

The purpose of this Provision is to regulate the organization and operation of the Registries and systems operated and administered by CONDUSEF, applicable to Financial Institutions, and how they must obtain their registration, file reports, send and receive notices and provide information to CONDUSEF.

This provision is applicable to all financial institutions that must provide information related to records and systems administered by CONDUSEF, in an accurate, timely, truthful and consistent manner. 

Among the obligations of the Financial Institutions, at the moment of submitting through the Electronic Communication System (hereinafter "SINE"), or in the corresponding Registry, any type of requests, reports, promotions, among others, must use their Advanced Electronic Signature or Electronic Identification Means. Likewise, it will be through the SINE that the Financial Institutions will send and/or upload the information required by CONDUSEF for the different procedures.

CONDUSEF will generate an Electronic Acknowledgement of Receipt at the time of sending and/or uploading the information that will record the receipt of Reports, Quarterly Reports, promotions, requests, and compliance with requirements presented by the Financial Institutions.

The Provision also contemplates, among others, the registration of Multiple Purpose Financial Companies (SOFOMES)

SOFOM REGISTRATION

In order to registrer a Multiple Purpose Financial Institution (SOFOM) before CONDUSEF, the applicant must submit the bylaws project for review through the Single Registration Portal (PUR).

CONDUSEF will analyze the bylaws project to incorporate a SOFOM, and within 30 (thirty) working days term, counted from the reception request date, will give a favorable or unfavorable response. In case of an unfavorable response, the applicant will have 10 (ten) working days to carry out the corresponding amendments and corrections. If the response is Favorable, the applicant will have 30 (thirty) working days to proceed with the incorporation of the company.

Once the SOFOM is incorporated, the applicant must upload to PUR the public deed of incorporation of the company, together with its registration receipt within 10 (ten) working days from the date of registration in the Public Registry of Commerce.

CONDUSEF will post through the Registry of Financial Providers (hereinafter "SIPRES"), the list of SOFOMs that are in the process of registration, and within 10 (ten) working days, will inform through the same process, the beginning of the company´s operations.

REGISTRATION OF ADHESION AGREEMENT

Financial Institutions must register in the Registry of Adhesion Agreements (hereinafter "RECA"), the models of their Adhesion Agreements, and in case they do not use such Agreements, they must also inform CONDUSEF by the same process.

Financial Institutions must create a record for each Adhesion Agreement, and will have to send all the documents that conform such Agreement, and the receipt will be evidenced in the acknowledgement issued for such purpose.

This report informs you the Registration Provision before CONDUSEF.

We remain at your disposal for any further assistance or questions related to the report.

For more information please contact:

Magdiel Campos

noe.hernandez@vila.com.mx