One of the highest fines imposed by the CNBV was to the GBM brokerage house, with 5.3 million pesos. The regulator informed the company did not send its clients an account statement in the first five business days after the cut.
For Multiva and Affirm banks, the penalties amounted to 219,120 pesos and 253,470 pesos, respectively. Multiva received the fine because the information it sent to the regulator between July and August 2016 did not have the quality and characteristics required by law. In the case of Afirme, the bank presented inconsistent information on balances as well as on estimates of property, furniture, securities and awarded rights.
The fine for the development bank Banco Nacional de Obras y Servicios Públicos (Banobras) was 448,100 pesos for not presenting a request to the Bank of Mexico to provide and consult the information through the transfer database.
The CNBV imposed three fines on Deutsche Bank for 694,640 pesos and a reprimand for not verifying that its external auditor complied with the requirements of the law and for not evaluating audit activities.
It is worth mentioning that sanctioned companies can appeal the fact to revoke the monetary punishment.