Background on Vector Casa de Bolsa
Vector Casa de Bolsa, one of the three Mexican financial institutions accused by the U.S. Department of Treasury in late June of allegedly enabling money laundering operations, announced on Wednesday the ordered transfer of its assets to Finamex Casa de Bolsa.
Response to U.S. Accusations
Following the accusations from the U.S. Department of Treasury in June, Vector conducted a thorough and responsible analysis process to determine the best alternative. The decision was to transfer its assets to Finamex Casa de Bolsa, a well-established institution with over five decades of experience recognized for its solvency, professionalism, and commitment to Mexico’s financial development.
Regulatory Compliance and Security Standards
Vector emphasized that this transfer adheres to all relevant regulations and is executed under the highest security, transparency, and regulatory adherence standards.
The company clarified that this is not a merger or acquisition of Vector’s license or corporation but an exclusive transfer of client portfolios and assets to Finamex Casa de Bolsa.
Client Investments Remain Intact
- Client Integrity:Vector assured that client investments and assets remain intact, properly backed by Mexican regulatory mechanisms and custodied by the Instituto para el Depósito de Valores (Indeval), ensuring their safety and availability according to legal requirements.
- Continuity of Services:The promoters and advisors currently attending to clients will join Finamex, ensuring the same quality, proximity, and dedication.
- Client Communication:Clients can contact their usual advisor or promoter for information and support regarding this process.
Regulatory Approvals Required
Vector reaffirmed its commitment to responsibility, transparency, and client interest protection through this ordered and secure transition, consistent with its 50-year history of leadership in the Mexican financial sector.
The company initiated an analysis and evaluation process of various alternatives to ensure the continuity, stability, and security of client investments while preserving its institutional legacy.
This operation is subject to obtaining the necessary regulatory authorizations.
Finamex Strengthens Its Position
Finamex, in a relevant event sent to the Mexican Securities Exchange (BMV), reported formalizing certain agreements through which Vector will transfer eligible client accounts.
Furthermore, Finamex will acquire representative capital shares of 21 investment funds held by Vector Fondos.
Finamex contributes to the continuity of financial services, adhering strictly to applicable regulations and strengthening its position as a leading institution in the Mexican financial system.
CIBanco and Intercam: The Other Accused Institutions
CIBanco and Intercam Banco are the other two Mexican financial institutions accused by the U.S. Department of Treasury through its Financial Crimes Network of allegedly enabling money laundering operations related to opoid trafficking.
As a result, both banks—with decades of operation in Mexico—have nearly sold off their entire businesses.
CIBanco transferred its entire fiduciary business to Multiva and its automotive credit portfolio to BanCoppel. Intercam had a significant portion of its business acquired by Kapital Bank.
