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Mexican Financial system (BANXICO (It is an autonomous institution whose…

- - - - promote the healthy development of the financial system; and promote the proper functioning of payment systems
- - - - The purpose of this Commission is that you have: clear contracts, understandable statements of account, information on commissions, associated insurance, etc., as well as providing the necessary elements for you to know and make conscious information about financial services and products.
- - - - Investment banks
        
        Focus on providing corporate clients with services such as underwriting and assisting with merger and acquisition (M&A) activity.
      - Commercial banks
        
        Are typically concerned with managing withdrawals and receiving deposits as well as supplying short-term loans to individuals and small businesses. Consumers primarily use these banks for basic checking and savings accounts, certificates of deposit (CDs) and home mortages.
- - - - CHARACTERISTICS
        These companies must add to their corporate name the expression "multiple purpose financial company" or its acronym "Sofom", followed by the words "regulated entity" or its abbreviation "E.R.".
        They maintain links with credit institutions.
        They will have 20% or more of the shares representing the capital.
        Total control of the general shareholders' assembly.
        
        A Multi-Purpose Financial Corporation (Sofom) is a company contemplated in Mexican legislation whose main objective is the granting of credit. They can be regulated (ER) or non-regulated (ENR) entities.
        
        According to the Padrón de Entidades Supervisadas (PES) from the web page CNBV:
        Alianza Financiera Social
        Consupago
        Ecash icash
        HxTI
        Kueski.
        
        CLASSIFICATION
        They are classified as: Regulated multiple purpose financial corporations or not regulated multiple object financial corporations, both of which are subject to supervision by the National Banking and Securities Commission (CNBV).