Comisión Nacional Bancaria y de Valores
| Comisión Nacional Bancaria y de Valores | |
| Agency overview | |
|---|---|
| Formed | 1924 |
| Jurisdiction | Mexico |
| Headquarters | Insurgentes Sur No. 1971, Col. Guadalupe Inn C.P. 01020, México D.F. |
| Agency executive |
|
| Parent agency | Secretariat of Foreign Affairs (Mexico) |
| Website | Official page of the CNBV |
In Mexico, the Comisión Nacional Bancaria y de Valores (CNBV) (English: National Banking and Securities Commission) is an independent agency of the Secretariat of Finance and Public Credit (Mexico) (SHCP) body with technical autonomy and executive powers over the Mexican financial system. Its main role is to supervise and regulate the entities that make up the Mexican financial system, in order to ensure its stability and proper operation, and to maintain and promote the healthy and balanced development of the financial system as a whole, in protecting the interests of the public. The Chairman since December 2012 is economist Jaime Gonzalez Aguadé .
The need for a regulatory agency of the Mexican financial institutions came together with the creation of the Mexican financial system in the late nineteenth century. The first response to this need was reflected in the Speaking specifically of Mexican financial institutions, the first response to this need was reflected in the Ley General de Instituciones de Crédito, which gave the SHCP responsibility for oversight of the credit system in Mexico.
The SHCP appointed auditors to each bank for the purposes of monitoring; however, this created an atmosphere of irresponsibility and inefficiency that led in 1889 to the creation of the so-called "Section of Supervision" within SHCP, which centralized the functions of monitoring and intervention. Five years later, the Section of Supervision would become an independent agency of the SHCP with the name of Inspector General of Institutions and Insurance Companies; it was renamed Regulatory and Inspection Commission of Credit Institutions in 1915.
Finally, the National Banking Commission (CNB) was born on December 24, 1924, as the only watchdog of Mexican banking institutions, with full operational freedom and independence from the SHCP.
Due to the evolution of the financial sector operations in Mexico, during the 1950s reform to Ley Federal de Instituciones de Finanzas was executed, which establishes the obligation of the CNB to inspect and monitor surety companies, after which the CNB became the Comisión Nacional Bancaria y de Seguros (National Commission for Banking and Insurance (1989)).
CNBS was split in December of the same year, into CNB and Comisión Nacional Bancaria de Seguros y Finanzas(National Banking Commission of Insurance and Finance) (Reforma a la Ley Reglamentaria del Servicio Público de Banca y Crédito) .
On April 16, 1946, the Official Gazette announced the creation of the Comision Nacional de Valores (National Securities Commission)(CNV) as an autonomous body whose main function is to approve the offering of securities within the Mexican legal framework and approval / veto of registration to the stock exchanges and the securities to the public offering of traded registered securities. This would lead to the establishment of the Securities Market Law in 1975.
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