Technology, the weak point of the new president of the CNBV

Since last Thursday morning, the presence of Jesús Rodríguez de la Fuente was noted in the corridors of Plaza Inn, the site that houses the headquarters of the National Banking and Securities Commission (CNBV). Immediately, officials of this authority recognized him and it is not for less, he is a trainer of a large part of the talent that now works in different areas of the federal government, especially those that have to do with the financial sector.

Although ‘El Maestro’, as some refer to him, did not say much about the reason for his presence at the CNBV, it was on the afternoon of the same Thursday that the Ministry of Finance made official his appointment as the new President of this commission “by instructions of the President of the Republic ”.

The announcement surprised locals and strangers, since ‘El Maestro’ has lately been dedicated to teaching, teaching financial law at the National Autonomous University of Mexico and the Panamerican University; It seemed that nothing would change that, until the proposal of President Andrés Manuel López Obrador arrived to head the regulatory body of the financial system.

De la Fuente Rodríguez accepted. In the statement issued by the Ministry of Finance, it is stated that the vision of the new President of the CNBV will be to reduce response times towards the regulated parties and strengthen their technical skills.

No one doubts his knowledge of financial law. The subject where he is pointed out is regarding technology, sources commented to this medium that, within his chairs, he was always reluctant to address the issue of technological innovations in financial services.

This issue is not surprising, since the CNBV is going through a process of regulation of financial technology institutions, in which to date it has authorized 22 institutions to operate under the Law to Regulate Financial Technology Institutions and it is expected the authorization of at least 30 more in the coming weeks.

The regulation of the second phase of the open finance model is in progress, where the technological giants could access the transactional information of the clients of financial institutions.

Change of courier

Rodríguez de la Fuente reaches a CNBV that has been questioned since the beginning of this administration. In addition, the talent drain has been signaled since the arrival of the current government due to the Austerity law.

The two Presidents who have been at the helm in this administration, Adalberto Palma and Juan Pablo Graf Noriega, have been able to get around the issue with the promotion of lower-ranking officials.

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