The Commission carried out an analysis and determined that Vector has the requirements to carry out the revocation of the license and highlighted that this revocation does not imply any ruling on any indication.
Vector was one of three financial institutions that was singled out last June by the US government for facilitating the money laundering activities of Mexico-based cartels, including the Sinaloa Cartel and the Gulf Cartel, as well as the acquisition of chemical precursors from China for illicit purposes.
Since then, no evidence has been presented to prove the facts and the Brokerage House has transferred its operations in favor of Finamex and Insigneo.
“Vector, originally called Sociedad Bursátil Mexicana, Casa de Bolsa, has operated as a brokerage house since 1976,” highlighted the Treasury in the Official Gazette of the Federation (DOF).
According to the regulator, at that time the securities market law, brokerage firms were not subject to an authorization regime to organize and operate as such, but only had to be registered in the then National Registry of Securities and Intermediaries.
After the promulgation of the securities market law in December 2005, it was established that brokerage firms must have a permit to operate.
