The National Banking and Securities Commission (CNBV) agreed to revoke Vector’s authorization to operate as a brokerage firm.
The authority reported in the Official Gazette of the Federation that on December 1 the group requested the revocation of its authorization.
“The members of the Governing Board of the National Banking and Securities Commission (…) unanimously agreed that the National Banking and Securities Commission revoke the authorization of Vector Casa de Bolsa, SA de CV, to organize and operate as a brokerage house,” he stated in the DOF.
Lee: Vector will transfer portfolio and assets to Finamex after indications from the Treasury
In October, Vector reported the transfer of its portfolio and client assets to Finamex Casa de Bolsa, after the US Treasury in June named the firm, along with two banks, for alleged money laundering practices.
The US government announced in June that it had banned transactions involving Vector, CIBanco and Intercam after identifying these firms as a “primary concern” in money laundering.
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