On August 16, 2022, the Resolution that amends the General Provisions applicable to mutual funds and their service companies (the "CUFI", and the resolution that amends it, the "Amendment") was published in the Federal...more
On March 11, 2022, a reform to the Mexican Banking Law (Ley de Instituciones de Crédito) was published in the Federal Official Gazette (Diario Oficial de la Federación) in order to provide a new procedure for the defense of...more
3/15/2022
/ Anti-Money Laundering ,
Anti-Terrorism Financing ,
Banking Sector ,
Blocked Person ,
Broker-Dealer ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Insurance Industry ,
Mexico ,
Money Laundering ,
New Regulations ,
Terrorist Financing
In order to encourage the promotion and specialized attention of corporate restructurings and insolvency proceedings, by agreement of the Plenary of the Federal Judiciary Council of Mexico, two district courts specialized in...more
On Thursday, September 9, the resolutions that reform, add and repeal the general rules on the prevention and identification of operations with resources of illicit origin applicable to financial cooperative associations...more
10/12/2021
/ Brokers ,
Client Identification Rule ,
Enforcement ,
FATF ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Investment Adviser ,
Lenders ,
Mexico ,
Regulatory Agenda ,
Threshold Requirements
On Thursday, September 9, the resolutions that reform, add and repeal the general rules on the prevention and identification of operations with resources of illicit origin applicable to financial cooperative associations...more
10/6/2021
/ Brokers ,
Client Identification Rule ,
Credit Applicants ,
Enforcement ,
FATF ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Investment Adviser ,
Lenders ,
Mexico ,
Regulatory Agenda ,
Threshold Requirements
On Monday, August 23, the General Guidelines on Liquidity Requirements for Banking Institutions issued jointly by the National Banking and Securities Commission (the “Commission”) and Mexico’s Central Bank, Banco de México,...more
On January 28, 2021, the Mexican Central Bank and the National Banking and Securities Commission ("CNBV"), published in the Federal Official Gazette the "General regulations applicable to e-money Institutions pursuant to...more
On September 30, 2020, the Mexican Central Bank (Banxico) published in the Federal Official Gazette Regulation 36/2020 addressed to securities issuers and Securities Depository Institutions, governing the electronic issuance...more
On September 25, 2020, the Federal Executive submitted to the House of Representatives an amendment bill regarding an "INITIATIVE WITH DECREE PROJECT THROUGH WHICH CERTAIN PROVISIONS OF THE SOCIAL SECURITY LAW (LEY DEL SEGURO...more
Under Article 76 of the Law regulating the Financial Technology Institutions ("Fintech Law") financial institutions, money transmitters, credit reporting companies, clearing houses, financial technology institutions and...more
On June 2, 2020, the following Rules, related to the provisional measures taken due to the COVID-19 pandemic, were published in the Federal Official Gazette:
A. Rule 20/2020, addressed to multiple banking and development...more
On June 2, 2020, the following Rule, related to repurchase agreements, was published in the Federal Official Gazette:
Rule 19/2020. This Rule is addressed to credit institutions, broker dealers, mutual funds, specialized...more
Additional measures to promote an orderly behavior in the financial markets strengthen credit granting channels and provide liquidity for the sound development of the financial system in Mexico....more
5/29/2020
/ Banks ,
Collateral ,
Coronavirus/COVID-19 ,
Credit ,
Exchange Rates ,
Federal Loans ,
Financial Markets ,
Foreign Exchanges ,
Hedging ,
Liquidity ,
Mexico ,
Mexico Central Bank ,
Micro Entity Status ,
Relief Measures ,
Small and Medium-Sized Enterprises (SMEs) ,
Small Business Loans ,
Stock Repurchases ,
Swaps
On March 30, 2020, the Public Health Council (Consejo de Salubridad Pública) declared a health emergency due to force majeure, caused by the epidemic generated by COVID-19, by virtue of the Resolution declaring the epidemic...more
Extension for compliance with the Resolution that amends the General Provisions applicable to credit institutions published in the Official Gazette of the Federation on August 29, 2017 (“Identity Verification Provisions”) in...more
Taking into account the health contingency enacted due to the COVID-19 pandemic in Mexico and in the world, as well as the prevailing uncertainty regarding the determination of the depth, duration and economic effects of such...more
On March 27, 2020, the Financial Intelligence Unit (Unidad de Inteligencia Financiera or “UIF”) and the Tax Administration Service (Servicio de Administración Tributaria or “SAT”) jointly issued a statement through which they...more
In response to the requests made by representatives of different financial entities regulated and supervised by the National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores or “CNBV”), the authority...more
On September 26, 2019, President Andrés Manuel López Obrador, together with the private sector, presented the National Investment Agreement in Infrastructure by the Private Sector (the "Agreement"). As the first bundle of the...more
As previously informed in our Client Alert from January 25, the Mexican Federal Executive branch submitted a bill that was published in the House of Representatives Parliamentary Gazette on January 23, 2019, with the purpose...more
5/9/2019
/ Amended Rules ,
CONSAR ,
Employee Rights ,
Enabling Laws ,
Fee Caps ,
Fees ,
Guaranty Claims ,
Mexico ,
Pension Funds ,
Proposed Legislation ,
Regulatory Agencies ,
Repeal ,
Retirement ,
Savings Plans ,
Securities
As reported in our Client Alert from January 10, 2019, a Presidential decree was published in the Official Gazette of the Federation on January 8, 2019, granting two tax incentives in the fixed income and equities securities...more
5/3/2019
/ Corporate Bonds ,
Corporate Issuers ,
FICAP ,
Foreign Nationals ,
Initial Public Offering (IPO) ,
Mexico ,
Regulatory Standards ,
Securities ,
Special Purpose Acquisition Companies (SPACs) ,
Stock Exchange ,
Tax Incentives
On March 19, 2019 a law initiative of Senator Ricardo Monreal Ávila was published in the Parliamentary Gazette of the Senate with a decree project, by means of which certain provisions of the Federal Civil Proceedings Code...more
4/10/2019
/ Acquisitions ,
Class Action ,
Class Members ,
Controlling Stockholders ,
Corporate Officers ,
Mexico ,
Minority Shareholders ,
Municipal Securities Market ,
Shareholder Litigation ,
Stock Markets ,
Tender Offers
On January 23, 2019, a bill proposed by the Mexican Federal Executive branch was published in the House of Representatives Parliamentary Gazette, with the purpose to amend, add and repeal various provisions of the Retirement...more
2/1/2019
/ Employee Contributions ,
Fees ,
Foreign Investment ,
Investment Companies ,
Investment Funds ,
Mexico ,
Pensions ,
Proposed Amendments ,
Retirement Plan ,
Savings Plans ,
Securities
On January 8, 2019, a Presidential decree was published in the Official Gazette of the Federation in which two tax incentives were granted....more