Extension of the suspension of the CNBV's deadlines

Extension of the suspension of the CNBV's deadlines

Today, in the Official Gazette of the Federation, the President of the National Banking and Securities Commission (“CNBV”) published the Agreement extending the term of the period during which the deadlines relating to hearings, procedures and proceedings that are in progress, are carried out or must be carried out before the National Banking and Securities Commission are suspended, as well as the effects of the other provisions contained in the Agreement establishing the temporary and extraordinary measures.

The Agreement establishes that the suspension of the deadlines with respect to the following will be extended until June 30, 2020: (i) the hearings, procedures and proceedings conducted by the CNBV; (ii) the obligations of the Ministry of Finance and Public Credit regarding the prevention of transactions with resources of illicit origin and the financing of terrorism that are communicated and/or processed through the CNBV; and (iii) the temporary and extraordinary measures for the attention of the financial entities and persons subject to the supervision of the CNBV published through the agreement of March 26, 2020 and successively amended on April 17 and 28, 2020. We will be following this matter and will keep you informed. For additional information, contact our experts: Luis Burgueño, Partner: +52 (55) 5258 1003 | lburgueno@vwys.com.mx Gloria Martínez, Associate: +52 (55) 5258 1016 | gmartinez@vwys.com.mx Santiago Barraza, Associate: +52 (55) 5258 1027 | sbarraza@vwys.com.mx

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