November 23, 2018

Compliance Officer for Fintech

The applicable regulation to financial technology institutions set forth the obligation to appoint a compliance officer.

Rules issued by the National Banking and Securities Commission (“CNBV“) require fintech companies to appoint a compliance officer to establish  procedures to prevent money laundering and the financing of terrorism. This compliance officer must be an employee of the fintech company and must be certified by the CNBV. This certification must be renewed every 5 years.

The compliance officer is also responsible for preparing a compliance manual containing the “know your customer” policies, and procedures prevent money laundering and financing of terrorism. Fintech companies must submit said manual with the CNBV.

The compliance officer must comply with the following requirements:

The purpose of this new requirement is to strength the regulatory framework that prevents money laundering and the financing of terrorism, anticipating fintech companies from serving as mean to carry out operations with illicit resources.

If you have questions regarding these rules please contact Fernando Eraña ( or Carlos Ugalde (


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