On October 7, 2020, the Energy Regulatory Commission (Comisión Reguladora de Energía, "CRE") published in the Federal Official Gazette ("DOF") a resolution (the "Resolution") to amend the "General provisions that establish...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
On July 29, 2020, the Board of Commissioners of the Energy Regulatory Commission ("CRE") approved the "Regulatory Program 2020" (the "Regulatory Program") by means of Resolution No. A/024/2020. The Regulatory Program is a...more
The Federal Judicial Branch published on August 14, 2020, on the Weekly Federal Judiciary, certain jurisprudence criteria related to the energy sector. In particular, the criteria relates to the jurisdiction of the District...more
On August 3, 2020, the National Hydrocarbons Commission (the "CNH") published through the Federal Official Gazette, the resolution whereby the CNH establishes several measures in order to promote the development of petroleum...more
8/7/2020
/ Coronavirus/COVID-19 ,
Energy Sector ,
Force Majeure Clause ,
Hydrocarbons ,
Mexico ,
National Hydrocarbons Commission (CNH) ,
New Regulations ,
Oil & Gas ,
Petroleum ,
Public Health Emergency ,
Suspension Clause
On June 30, 2020, the Mexican Central Bank (Banxico or Central Bank) issued a press release announcing the amendments to be made to Rules 20/20201 and 25/20202, which shortly will be published in the Federal Official Gazette....more
8/6/2020
/ Amended Rules ,
Banking Sector ,
Coronavirus/COVID-19 ,
Credit ,
Financial Institutions ,
Mexico ,
Mexico Central Bank ,
Micro Entity Status ,
Midsize Businesses ,
Relief Measures ,
Secured Debt ,
Small Business
On July 15, 2020, the National Banking and Securities Commission (the "CNBV") published in the Federal Official Gazette ("DOF") a resolution establishing administrative measures to resume activities during the contingency...more
On July 8, 2020, the Ministry of Energy ("SENER") issued through the Federal Official Gazette, the Energy Sector Program (Programa Sectorial de Energía) 2020-2024 (the "PROSENER"). PROSENER is a planning instrument derived...more
7/16/2020
/ Electricity ,
Energy Sector ,
Energy Storage ,
Federal Electricity Commission (CFE) ,
Hydrocarbons ,
Mexico ,
Oil & Gas ,
PEMEX ,
Power Plants ,
Regulatory Agenda ,
Renewable Energy
On March 26, 2020, the National Banking and Securities Commission (CNBV) issued special accounting standards applicable to credit institutions as a consequence of the COVID-19 contingency. On June 29, 2020, the term granted...more
On Sunday June 21, 2020, the Mexican Banking and Securities Commission ("CNBV") ?in charge of the anti-money laundering and counter-financing of terrorism ("AML/CFT") supervision of the banking sector in Mexico? communicated...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 10, 2020, Senator Ricardo Monreal, President of the Senate’s multi-party coordination body, the Junta de Coordinación Política and leader of the ruling party’s senators, proposed a constitutional amendment to articles...more
6/12/2020
/ Agency Consolidation ,
Competition Authorities ,
Constitutional Amendment ,
Energy Sector ,
Mexican Economic Competition Commission (Cofece) ,
Mexico ,
Proposed Amendments ,
Public Officials ,
Salary Caps ,
Supreme Court of Mexico ,
Telecommunications
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 May 15, 2020, the National Commission of the Retirement Savings System (CONSAR) published in the Federal Official Gazette, the amendments and additions to the General Provisions regarding the Operations of the Retirement...more
On May 7, 2020, the Federal Antitrust Commission (Comisión Federal de Competencia Económica, “COFECE”) issued the opinion No. OPN-006-2020 (the “Opinion”) in regard to the “Resolution to ensure the efficiency, quality,...more
On April 29, 2020, the National Energy Control Center (“CENACE”) published within the Market Information System a “Resolution to ensure the efficiency, quality, reliability, continuity and safety of the National Electric...more
Effective as of April 23, 2020, the Mexican Competition Commission (“COFECE”) issued emergency regulations providing that, during and as long as the coronavirus pandemic is considered a health emergency, the service of...more
By means of a Decree, published in the Federal Gazette on April 2, 2020, the Mexican President orders the immediate termination of all federal public trusts, public mandates or analogous figures....more
Following the previous client alert published on April 7th, 2020, below are the new measures issued by the Ministry of Communications and Transport for the mitigation and control of the SARS-CoV2 pandemic (COVID-19)....more
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