System for Processing Authority Requests (SIARA)
Banking and Finance / By Karina Estrada Junior Associate in the Corporative Law Department
On November 21, 2017, the National Banking and Securities Commission (CNBV, in Spanish) informed that, on October 23, 2017, it incorporated 42 family courts of the Superior Court in Mexico City to the System for Processing Authority Requests (SIARA, in Spanish).
Through such platform, many authorities, including the Judicial Branch, the Tax Administration Service (SAT), the Institute of the National Fund for Worker´s Housing (INFONAVIT), the Mexican Institute of Social Security (IMSS), the Office of the Attorney General (PGR), the Financial Information Unit (UIF), the National Electoral Institute (INE), the Federal Auditor General (ASF), and the Ministry of Government Affairs (SFP), among others, may, through digital means, request that any financial entity regulated by the CNBV provide them with information regarding their financial situation, documentation, insurance, account blockage, as well as the transfer or status of funds belonging to customers or users of financial services. The use of such platform is safe and confidential, and it is expected to reduce the time and resources needed for processing.
For more information related to the foregoing, do not hesitate to contact any of the following BGBG members:
Karina Estrada Quintero