The National Banking Securities Commission (CNBV) reported this Monday that it imposed more than 30 fines on 13 financial institutions that together amount to more than 20.6 million pesos (mdp).
The entity with the highest number of fines was BBVA Mexico with 14, and which together amount to 6.6 million pesos, the majority for failing to provide documentation within the period established by the authority throughout 2019.
Bursamérica , which is a brokerage house, received a penalty of 6.3 million pesos for brokering securities not registered in the National Securities Registry.
HSBC was sanctioned with 2.41 million pesos for failing to comply with the obligations related to portfolio rating and preventive reserves in 2018.
Banorte received 5 fines that together amount to 1.2 million pesos for internal control deficiencies, in 2018, specifically to verify the existence of payroll issuers. Penalties can be challenged by the bank.
Vector received a fine of 806,000 pesos for not requesting an authorization from the CNBV to modify the manual of the reception and allocation system. This action is considered a serious offense; the brokerage house has already paid the fine, although it can be challenged, according to the Commission.
CI Banco received three fines of 253,470 pesos; The reasons for these fines were not providing information requested by the Commission within the period established in 2019.
Banamex received a fine of 253,470 pesos, Inbursa one for 260,640 pesos and Multiva another for 403,000 pesos.