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:
- Hold a position within the three
immediate hierarchies inferior to the chief executive officer of
the company.
