Judicial review

The judicial review process allows an affected party to challenge the decision made by the regulatory or administrative body by seeking a review of the decision by a higher authority, typically a court of law.

Three main grounds of judicial review:

1. Illegality. The regulatory or administrative body has acted outside its legal authority when imposing the sanctions (e.g. discretionality).
2. Unfairness. The regulatory or administrative body has not followed a reasonable process. It might be because a decision-maker was biased or the institution was not given the chance to make representations.
3. Irrationality. This applies when the decision to impose the sanctions is so unreasonable that no reasonable regulatory or administrative body could have made the decision in question. This may include a decision that is arbitrary, capricious, or based on irrelevant considerations.

Pros and cons of publishing sanctions

Publicizing the administrative sanctions for AML/CFT violations.

Pros:

• Deterrent to other financial institutions. 
• Foster culture of responsibility among financial institutions.
• Motivate financial institutions to prioritize mitigating ML/FT/PF. 
• Promote transparency in the financial system. 
• Build trust in the supervisory authority and financial institutions.

Cons:

• Public action may not be appropriate, proportionate, or achieve the intended outcome.
• Impact reputation of the financial institution.
• Impact institution's ability to attract and retain customers, investors, and employees. 
• Increase the risk of legal action against the financial institution. 
• Disclosure of sensitive information related to the financial institution's operations.
• Revelation of  confidential or very sensitive information 
• Potentially systemic impact on the whole sector.

types of sanctions

1. Reprimand Letter. Warning the institution to discontinue minor AML/CFT violations.
2. Corrective Action Order or Instruction. To take specific actions to address AML/CFT violations, such as implementing new policies and procedures or improving internal controls.
3. Cease and Desist Order. To stop engaging in activities that violate AML/CFT regulations. These may be accompanied by fines (e.g., daily, weekly, monthly) for non-compliance with the order.
4. Monetary Fine. Calculated based on severity and frequency of the non-compliant behavior, and proportionate to the financial institution's size and financial resources.
5. Appointing a Caretaker. A team to manage and oversee the AML/CFT operations when there are serious concerns about the institution's AML/CFT compliance.
6. Operational Limitations or Prohibitions. To limit from engaging in specific activities related to AML/CFT, such as opening new accounts or conducting certain types of transactions.
7. Suspension or Revocation of License. In cases of criminal involvement, prevents the financial institution from operating in the financial system until they address the issues and meet the necessary regulatory requirements. Las resort.

Ne Bis in Idem Principle

Any action that violates administrative law will be sanctioned by an administrative regime and any action violating criminal law will be sanctioned under criminal law. Nevertheless, some actions can be in breach of both administrative and criminal laws; and therefore, could be punished twice. This will depend on if and how the principle of ne bis in idem is applied in that country.

Effective, dissuasive, and proportionate

FATF Recommendation 35 requires that supervisory sanctions for breaches of AML/CFT requirements by institutions be effective, proportionate and dissuasive.

• Effectiveness. Sanctions should have a real impact on the financial institution and its behavior, to serve as a deterrent and send a message to other financial institutions. 
• Dissuasiveness. Sanctions should discourage the financial institution from engaging in noncompliant behavior. The cost of noncompliance should outweigh any potential benefit (fines or public disclosure of noncompliant behavior).
• Proportionality. Sanctions should be commensurate with the offense, and should be appropriate to the severity and frequency of the noncompliant behavior. Not too severe, not too lenient. Sanctions must be fair and transparent.

Principles for corporate governance

Corporate governance. A set of relationships between a company’s management, its board, its shareholders and other stakeholders which provides the structure through which the objectives of the company are set, and the means of attaining those objectives and monitoring performance. It helps define the way authority and responsibility are allocated and how corporate decisions are made.

Some components:

1. Board and Senior Management Oversight. Provide oversight and leadership on AML/CFT issues. This includes setting policies and procedures, providing adequate resources, ensuring that ML/TF/PF risks are effectively managed, and promoting a well-grounded culture of compliance.
2. Risk Management. Risk-based approach to AML/CFT appropriate for their size, complexity, and risk profile. This includes setting an ML/TF/PF risk appetite and risk tolerance, conducting ML/FT risk assessments and monitoring for ML/TF/PF risks, and implementing appropriate risk mitigation measures.
3. Policies and Procedures. Tailored to specific risks and business activities: customer due diligence (CDD), ongoing monitoring, reporting suspicious activity, record keeping, and training employees.
4. Internal Controls. Trained employees on AML/CFT issues and aware of reporting and escalation lines, and adequate separation of powers and functions, and regular review of risks.
5. Compliance. Continuous monitoring of the effectiveness of the AML/CFT program.
6. Audit. Assessment of the effectiveness of their AML/CFT program: Adequacy of policies and procedures, verifying compliance with applicable laws and regulations, and providing recommendations for improvement.

Fitness and propriety

Assessing fitness. Has a candidate sufficient relevant knowledge and displays the required professional behavior to perform the job?

• Education. Background information.
• Work experience. Professional history.
• Competencies

Consider circumstances such as:

• Specific position
• Type of institution
• Composition of the board

Main focus:

• integrity
• veracity
• sense of responsibility
• respect for the law
• openness
• sincerity
• prudence
• incorruptibility
• discretion

Assessing propriety. One-time procedures.

• Government databases
• Open sources

Involve:

• Financial intelligence unit
• Tax authorities
• National police 
• Law enforcement agencies 

Final decision should be negative, when:

• Keeping doubts unresolved.
• Indeterminacy of the propriety of the person.

Licensing process

During the licensing process, financial sector supervisors can take the following measures:

• Disclose the identity of the beneficial owners.
• Provide evidence of the source of their funds.
• Gather information on the institution.
• Share information on the institution with law enforcement agencies.
• Review thoroughly founding documents and trust deeds.

Avoid granting license to financial institutions:

• If there are doubts regarding beneficial ownership or source of funds.
• Whose shares are held via nontransparent or complex structures.
• If there is evidence of criminal involvement.
• If there are obstacles to effective supervision.

Assessment in Licensing

1. Who are the beneficial owners, board members, managers and key employees?
2. Where are the funds coming from?
3. How transparent is the group structure?
4. What is the plan to carry out operations to cope with risks?

4 virtudes para gobernar

Martín Ríos Saloma. La España de Carlos I. CEHM. 2016.

Las cuatro virtudes cardinales:

1. Fortaleza
2. Justicia
3. Templanza
4. Prudencia

Risk-based supervision

Risk-based approach to supervision. Supervisory activities focus on areas that pose highest risks.

• Risk assessment of financial institutions and sectors under its supervision
• Type of customers
• Products
• Services
• Transactions
• Geographic locations
• AML/CFT framework
• Reputation of the institution
• Size
• Complexity
• Resources 
• Develop a tailored supervisory plan considering:
• Risks posed by the financial institutions and sectors.
• Frequency and scope of supervisory activities
• Tools and techniques to use
• Customer due diligence
• Transaction monitoring
• Suspicious activity reporting
• Collaboration with other authorities:
• Prudential supervisors 
• AML/CFT supervisors in other jurisdictions
• Law enforcement agencies
• Financial intelligence units

Simple rules to keep yourself in loneliness and isolation

Grim Prayers. Wiktor Miesok, Felix Charin. 2026.

1. Move your body. I tell that to all my young associates, and it is the simplest rule to follow. Your body is made for action, so give it some.
2. Use your mind. Now that your body is active, and your mind is calm, focus it, and think. Contemplate on your mission, droog, on what you will do after you get out. Play chess in your head or pretend to write stories and letters.
3. Know yourself. Sometimes to know who you are, you must know who you are not, and by defining your enemies, you come to understand your values.
4. Rein in your emotions. Look at the feelings, observe them, learn from them. When you master your emotions, you won’t be afraid of solitude ever again. Breathwork can be helpful.
5. Keep faith. It is a well-established phenomenon that people with faith often survive, heal faster, and overcome more than those who believe in nothing. Believe in something. Find a meaning and hold on to it.
6. Think about your death. Consider your own mortality, and make it fuel your willpower.

Accessing records

Scope of powers.

• Clear limits. Prevent misunderstandings or misuse of powers. 
• Protocols. Clear procedures to compel the production of records and have unrestricted and timely access to information. 
• Transparency and consistency with the law. 
• Capacitation. Institutions should understand their obligations and responsibilities.

Data and privacy protection. 

• Data protection. Information collected is used only for the purpose of fulfilling their supervisory responsibilities. 
• Confidentiality. Protect integrity and trust. 

Provision of records. 

• Notice. Time to gather and submit records and information. 
• Clarity. Specify types of records and information. 
• Clearance. Access to suspicious transaction reports is essential. Confidentiality requirements to access suspicious transaction reports, should not apply to supervisory authorities.

Murph Challenge

Lieutenant Michael P. Murphy originally called this workout "Body Armor". He gave it this name because he performed the routine while wearing his 20-pound military-issued body armor or a weighted vest to better simulate the conditions he faced as a Navy SEAL. 

After his death in Afghanistan in 2005, CrossFit officially renamed the workout "Murph" in his honor when it was first posted as a Hero WOD (Workout of the Day) on August 18, 2005. 

The workout consists of:

• 1-mile run
• 100 pull-ups
• 200 push-ups
• 300 air squats
• 1-mile run

All performed while wearing a 20-pound vest or body armor.

AML/CFT supervisory responsibilities

1. Developing and implementing effective supervisory frameworks for AML/CFT.
2. Conducting risk assessments of financial institutions and the financial sector to determine their ML/TF/PF risk profiles.
3. Monitoring and supervising financial institutions management and compliance with AML/CTF.
4. Providing guidance to financial institutions to effectively manage ML/TF/PF risks.
5. Coordinating with other national and international authorities to combat ML/TF/PF.
6. Taking appropriate enforcement actions against financial institutions that fail to comply with AML/CFT laws and regulations.

Recommendation 27

FATF. Recommendation 27.

Supervisors should have power to:

• Monitor financial institutions under the AML/CFT requirements.
• Ensure compliance by financial institutions with the AML/CFT requirements.
• Conduct inspections of financial institutions.
• Compel production of any information from financial institutions that is relevant to monitoring compliance.
• Impose disciplinary and financial sanctions for failure to comply with the AML/CFT requirements.

Pagano, infiel o hereje

Martín Ríos Saloma. La España de Carlos I. CEHM. 2016.

1. Pagano. Aquel que no conoce el nombre de Cristo.
2. Infiel. Aquel que conociendo el nombre de Cristo, no quiere creer.
3. Hereje. Aquel cristiano bautizado que no sigue la liturgia, doctrina o disciplina de Roma.

Recommendation 26

FATF. Recommendation 26.

The specific process of supervising institutions:

• Financial institutions are licensed and registered.
• Financial institutions are subject to adequate regulation.
• Competent authorities apply fit and proper measures.
• Financial institutions are subject to risk-based supervision for AML/CFT purposes.

How you grow

Grim Prayers. Wiktor Miesok, Felix Charin. 2026.

1. Breaking is part of becoming. Boys do not become men without something dying. An old identity must crack before a stronger one forms. If you fight the break, you stay small.
2. Pain calls for meaning. I saw this in prison and in freedom. Pain plus meaning equals depth. Pain minus meaning is bitterness. If you ask, “Why did this happen to me?” you shrink. If you ask, “What is this teaching me?” you grow.
3. Accept new identities without losing yourself. Own your transformation. Boys become men through rites of passage. Those who say, “I am who I am, I won’t change,” will not grow. I went from a soldier to a vor, from a vor to an entrepreneur, and from a prisoner to a free man. Identity is not a prison unless you refuse to outgrow it.
4. Pride stunt your growth. Men who were strong, who grew, were not alone. They spoke about pain without drowning in it, and they allowed support. The ones who said, “I need no one,” who saw vulnerability only as weakness, who refused a helping hand—they broke even more, year by year. They either turned inward, becoming subdued and depressed, or lashed out, hurting anyone who crossed their path. Pride lies, telling you that you are stronger than you really are. Growth begins when pride cracks.
5. Do not hide your scars, especially from yourself. Kintsugi does not conceal the fracture. It highlights it. Your scars are not shame. They are proof of survival and a rebirth. Face your shadows. Inside you there is anger, fear, envy, weakness. If you pretend it is not there, it controls you. Look at it. Name it. Discipline it. After all that I lived through, I realized that I did not chose what happened to me. But I choose who I would become.

International Organization of Securities Commissions

The International Organization of Securities Commissions (IOSCO) is the global standard setter for the securities sector. Currently, it has more than 230 members. IOSCO’s Objectives set out 38 Principles of securities regulation:

• Protect investors
• Ensure market fairness, transparency and efficiency
• Reduce systemic risk

How to deal with loss

Grim Prayers. Wiktor Miesok, Felix Charin. 2026.

1. Keep tight in public. Easier said than done but keep your grief private. Don't fall apart in public. If you collapse in front of people, you invite predators, and you also weaken the ones who depend on you. Be their pillar to lean on.
2. Accept that the world moves on. The sun will rise tomorrow whether you are ready or not. Life continues, problems multiply, and your enemies move. So, you move too, even if your chest feels like it’s full of stones.
3. Don’t romanticize the dead. They weren’t saints. None of us are. Honor who they really were, the good and the ugly, because truth is the only respect that lasts.
4. Use the past as fuel, but don’t live in the past. Remembrance is useful, it can push you forward. But if you crawl inside it and live there, then instead of honoring the dead you’re hiding from life. Make memories into a tool to inspire you, not into a home to hide in.
5. Carry on. Finish the mission you had together. That is loyalty: family, work, a promise, even a simple way of living. When you complete what the two of you began, grief turns into duty, and you find peace in your soul.
6. Keep moving. If you fell, rise and continue walking. One step at a time. Move forward, every fucking day.

International Association of Insurance Supervisors

The International Association of Insurance Supervisors (IAIS) is the international standard setter for the supervision of the insurance sector. It comprises insurance supervisors and regulators from more than 200 jurisdictions. The IAIS Insurance Core Principles (ICP) seek to encourage high standards in member jurisdictions:

1. Supervisory principles. Licensing and supervisory process, and the prudential requirements for insurers.
2. Market principles. Market structure, market conduct, and consumer protection.
3. Infrastructure principles. Accounting, actuarial practice, risk management, and supervision of group-wide activities.

From an AML/CFT perspective, ICP 22 is the most important, it requires the supervisor to take effective measures to combat money laundering and terrorist financing, and also requires insurers to have appropriate risk-based policies and procedures in place to prevent, detect, and report.

Recomendaciones de Reverte

Arturo Pérez Reverte en Wild Project. 2025.

• Alatriste. 2006.
• Fauda. 2015.
• As bestas. 2022.
• La suerte. 2025.

29 Core Principles for Effective Banking Supervision

The Basel Committee on Banking Supervision (BCBS) is the global standard setter for the regulation of banks. It has 45 members from 28 jurisdictions, consisting of central banks and authorities with formal responsibility for the supervision of banking business. 

The BCBS has issued the 29 Core Principles for Effective Banking Supervision which are a set of high-level supervisory standards that guide the supervision of banks and banking systems:

• Principles 01 to 13 focus on the powers, responsibilities and functions of supervisors;
• Principles 14 to 29 focus on prudential regulations and requirements for banks.

These 29 principles also have:

• Essential criteria: minimum baseline requirements for sound supervisory practices.
• Additional criteria: suggested best practices that countries should aim for.

From an AML/CFT perspective, principle 29 is the most important:

• Abuse of financial services. The supervigor determines that banks have adequate policies and processes, including strict customer due diligence (CDD) rules to promote high ethical and professional standards in the financial sector and prevent the bank from being used, intentionally or unintentionally, for criminal activities.

5 funciones inherentes al estado

Martín Ríos Saloma. La España de Carlos I. CEHM. 2016.

1. Gobierno (Normativa y legislativa).
2. Justicia (Judicial).
3. Fiscalidad (Control).
4. Defensa (Seguridad y orden público).
5. Administración (Gestión pública).

AML/CFT teams

AML/CFT teams should possess a range of expertise to effectively carry out their supervisory responsibilities:

1. Legal Expertise. AML/CFT supervisors should have a solid understanding of the legal and regulatory frameworks related to AML/CFT, including domestic laws and regulations, international standards, and best practices.
2. AML/CFT Knowledge. AML/CFT supervisors should have knowledge and insight in areas such as ML/TF/PF risks and typologies, risk assessment methodologies, and the design and effectiveness of AML/CFT controls.
3. Financial Sector Knowledge. AML/CFT supervisors should have a good understanding of the financial sectors they are supervising, including the types of financial products and services offered, the customers served, and the risks associated with different business models.
4. Communication Skills. AML/CFT supervisors should be able to communicate effectively with regulated institutions, other regulatory and law enforcement agencies, and other stakeholders. This includes the ability to convey complex information clearly and concisely, and to engage in constructive dialogue with supervised institutions to promote compliance with AML/CFT requirements.
5. IT Skills. AML/CFT supervisors should have a good understanding of IT systems and tools used by regulated institutions to manage risks, and should be able to use these tools effectively in their supervisory work.

AML/CFT/PF

AML (Anti-Money Laundering)

Detects and prevents efforts to make illegally obtained funds appear legitimate.

CFT (Combating the Financing of Terrorism)

Targets the funding of terrorist acts and organizations.

PF (Proliferation Financing)

Aims to prevent the financing of the proliferation of weapons of mass destruction.

4 lecciones empresariales de Manuel Arango

1. Aprender del fracaso. Cuando lanzaron Bodega Aurrera, los hermanos no estaban convencidos de la idea, pero tomaron el riesgo, se enfocaron en la innovación y la idea revolucionó el retail: “No se puede emprender nada con la seguridad o la certeza de que va a tener éxito”. En este sentido, comenzar un proyecto es un reto, en el que no se sabe con certeza que va a pasar, pero al final deja un aprendizaje. Manuel Arango explica que al escalar profesionalmente, en ocasiones no nos damos cuenta cuando se llega a la cumbre, pero al volver atrás, vemos el camino lleno de conocimientos, fracasos y logros.
2. No dejar de innovar. La innovación se maneja en diferentes grados, debido a que por un lado, se puede tomar algo que ya existe y darle un nuevo enfoque o por el otro lado, partir desde cero y crear algo nuevo: “Innovar es parte de mi ser. Si se me ocurre hacer un libro, pero aunque hay muchos, voy a buscar algo en la esencia de ese libro que sea diferente”. Sigan sus pasiones, busquen un buen enfoque y comiencen a trabajarlo.
3. Participar en organizaciones sin fines de lucro. El empresario también se destaca por su gusto por la filantropía, en la que menciona que ha conocido a empresarios, el cual le permitió conocer la diversidad que hay en el mundo como sectores a los que no había incursionado. Al ampliar sus conocimientos, el empresario amplía sus conocimientos: "La imagen de una persona es complementar su trabajo con el de la gente que se esfuerza intensamente, que son creativos pero sin fines de lucro”.
4. Elegir un buen socio. A pesar del triunfo de los tres hermanos al fundar Bodega Aurrera, tomaron caminos diferentes en una edad temprana, por lo que buscar socios es un reto, mismo en el que influyen los valores. De manera que, antes de asociarse con alguien, es importante saber si hay una similitud con esa persona, es decir, si comparten valores: “Yo no me podría asociar con alguien que toca a la puerta y me ofrece algo, lo pensaría. porque me gustaría asociarme con personas con las que pueda convivir, ser parte más allá del negocio, que pueda ir a comer a su casa, con gente con la que te identificas”.

El mundo de Carlos V. De la España Medieval al Siglo de Oro

Lugar: Antiguo Colegio de San Ildefonso.

Periodo México, 3 de noviembre 2000 - 25 de febrero 2001.

Personalidades: Inaugurada por la Reina Sofía y Ernesto Zedillo.

Acervo: Más de 200 piezas.

Curador: Isidro Bango.

Valor del seguro: 90 MD.

Módulos:

1. El rey nuestro señor.
2. El ambiente regio.
3. Nobles y señores.
4. Fiesta y espectáculo.
5. Fe y devoción.
6. Una imagen para la eternidad.
7. Paradigmas del arte español.
8. Literatura, música y ciencia.
9. La imagen de América.

Piezas destacadas:

• Una primera impresión del Lazarillo de Tormes.
• Uno de los dos ejemplares que quedan del Catecismo para los indios, de fray Pedro de Gante.
• Edición de El Quijote, de 1605.
• Tapiz de Willen de Pannemaker.
• Primer retrato de Carlos V, por el maestro de la Magdalena, 1515-1517.
• Santa Teresa de Jesús, Quevedo y Góngora, de Diego Velázquez.
• Busto del cardenal Cisneros, en alabastro, de Felipe Bigarny.

Alas en el EdoMex

Desde 2013 fueron ubicados en la Plaza Estado de México, de Cuautitlán Izcalli, 13 vehículos militares provenienes de la base de Santa Lucía. 

• Un Lockckheed T-33 shooting star, con una longitud de 11.2 metros, una envergadura de 11.5 metros y una altura de 3.3 metros.
• Un helicóptero MIL-MI-8T, con capacidad para 22 pasajeros.
• Una avioneta Sterman PT-17 Kaydett, con una longitud de 7.62 metros, 9.80 metros de envergadura y 2.79 metros de altura.
• Dos vehículos DN-VI ocelote ambulancia, con espacio para 13 personas y un peso de más de seis toneladas.
• Dos automóviles M8-Greyhound para cuatro tripulantes cada uno.
• Tres vehículos blindados Chrysler MAC-1, cada uno con capacidad para siete personas.
• Tres transportes Mowag Roland, con longitud de 4.44 metros, capacidad para seis tripulantes y un peso superior a cuatro toneladas.