Decree To Issue The Law To Regulate Financial Technology Institutions

On September 19, 2017, the preliminary draft of the "Decree to issue the Law to Regulate Financial Technology Institutions, and to amend or repeal several provision of the Credit Institutions Law, the Securities Exchange Law, the General Law of Credit Organizations and Auxiliary Activities, the Law for the Transparency and Regulation of Financial Services, the Law to Regulate Credit Information Societies, the Law for the Protection and Defense of Users of Financial Services, the Law to Regulate Financial Groups, the National Banking and Securities Commission Law and the Federal Law for the Prevention and Identification of Operations with Resources of Illegal Origins" (the "Decree") was published on the website of the Federal Commission for Regulatory Improvement. The proposed Decree aims to regulate Financial Technology Institutions (collective financing companies and electronic payment funds), and companies authorized to operate with "innovative models" and