Banking & Finance

THE MINISTRY OF FINANCE (SECRETARÍA DE HACIENDA Y CRÉDITO PÚBLICO) (“SHCP”) AND THE NATIONAL BANKING AND SECURITIES COMMISSION (COMISIÓN NACIONAL BANCARIA Y DE VALORES) (“CNBV”) AMEND THE GENERAL PROVISIONS APPLICABLE TO INVESTMENT FUNDS AND PERSONS WHO RENDER SERVICES TO THEM (DISPOSICIONES DE CARÁCTER GENERAL APLICABLES A LOS FONDOS DE INVERSIÓN Y A LAS PERSONAS QUE LES PRESTAN SERVICIOS) (“CIRCULAR ÚNICA DE FONDOS DE INVERSIÓN” OR “CUFI”).

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On April 26, 2019, the SHCP and CNBV amended the general provisions applicable to investment funds and persons who render services to them (the “Investment Funds Circular”or “CUFI”), in order to further specify the concept of fiduciary certificates and correctly identify these type of securities, which includes development fiduciary certificates, real estate fiduciary certificates and […]

Banking & Finance

THE MEXICAN CENTRAL BANK (BANCO DE MÉXICO) PUBLISHES CIRCULAR 4/2019 ADDRESSED TO CREDIT INSTITUTIONS AND FINANCIAL TECHNOLOGY INSTITUTIONS REGARDING THE GENERAL PROVISIONS APPLICABLE TO CREDIT INSTITUTIONS AND FINANCIAL TECHNOLOGY INSTITUTIONS IN THE OPERATIONS THEY PERFORM WITH VIRTUAL ASSETS.

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THE MEXICAN CENTRAL BANK (BANCO DE MÉXICO) PUBLISHES CIRCULAR 4/2019 ADDRESSED TO CREDIT INSTITUTIONS AND FINANCIAL TECHNOLOGY INSTITUTIONS REGARDING THE GENERALPROVISIONS APPLICABLE TO CREDIT INSTITUTIONS AND FINANCIAL TECHNOLOGY INSTITUTIONS IN THE OPERATIONS THEY PERFORM WITH VIRTUAL ASSETS. On March 8, 2019,the Federal Official Gazette (DOF) published circular 4/2019, issued by the Mexican Central Bank, which […]

Banking & Finance

THE MINISTRY OF FINANCE (SECRETARÍA DE HACIENDA Y CRÉDITO PÚBLICO) (“SHCP”) AND THE NATIONAL COMMISSION FOR THE PENSION SYSTEM (COMISIÓN NACIONAL DEL SISTEMA DEL AHORRO PARA EL RETIRO) (“CONSAR”) ISSUE SECONDARY PROVISIONS TO OPERATE INNOVATIVE MODELS REFERRED TO IN THE LAW TO REGULATE FINANCIAL TECHNOLOGY INSTITUTIONS (LEY PARA REGULAR LAS INSTITUCIONES DE TECNOLOGÍA FINANCIERA).

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SHCP and CONSAR On March 8,2019, the Ministry of Finance and the National Commission for the PensionSystem published through the Federal Official Gazette (Diario Oficial de la Federación) the general provisions regarding Authorized Companies to operate innovative models referred to in the Law to Regulate Financial Technology Institutions. An authorized company is the legal entity […]

Banking & Finance

DRAFT RESOLUTION MODIFYING THE GENERAL PROVISIONS APPLICABLE TO FINANCIAL TECHNOLOGY INSTITUTIONS

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Draft Resolution modifying the General Provisions applicable to Financial Technology Institutions (“General Provisions for Financial Technology Institutions”). On February 7, 2019, the National Commission for Regulatory Improvement (“CONAMER”) published on its website the Draft Resolution that modifies the General Provisions for Financial Technology Institutions. The purpose of the regulatory proposal is to issue the general […]

Banking & Finance

THE MINISTRY OF FINANCE (SECRETARÍA DE HACIENDA Y CRÉDITO PÚBLICO) (“SHCP”) AND THE MEXICAN CENTRAL BANK (BANCO DE MÉXICO) (“BANXICO”) PRESENT A PLAN TO BOOST THE MEXICAN FINANCIAL SECTOR.

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THE MINISTRY OF FINANCE (SECRETARÍA DE HACIENDA Y CRÉDITO PÚBLICO) (“SHCP”) AND THE MEXICAN CENTRAL BANK (BANCO DE MÉXICO) (“BANXICO”) PRESENT A PLAN TO BOOST THE MEXICAN FINANCIAL SECTOR. On January 8, 2019, the Ministry of Finance and the Mexican Central Bank presented a plan focused on boosting the financial sector in Mexico. Similarly, the […]

Banking & Finance

AUTHORITIES PASS FIRST BATCH OF SECONDARY REGULATIONS FOR FINTECH LAW

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Authorities pass first batch of secondary regulations for Fintech Law.   The General Provisions referred to in Article 58 of the Law to Regulate Financial Technology Institutions (“Fintech Law”), Circular 12/2018 addressed to the Electronic Payment Funds (Instituciones de Fondos de Pago Electrónico), relative to the general provisions applicable to the operations of the Electronic […]

Banking & Finance

THE BOLSA INSTITUCIONAL DE VALORES

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The Bolsa Institucional de Valores, the new Mexican Stock Exchange, formally begins operations.   On July 25, 2018, the Bolsa Institucional de Valores, S.A. de C.V. (BIVA) formally begins operations. The BIVA will seek to contribute to the promotion of the securities’ markets and will seek to generate greater competition in the market, providing financing […]

Banking & Finance

THE NATIONAL BANKING AND SECURITIES COMMISSION (COMISIÓN NACIONAL BANCARIA Y DE VALORES) (“CNBV”) PREPARES ITS INITIAL RECOMMENDATIONS TO THE LAW TO REGULATE FINANCIAL TECHNOLOGY INSTITUTIONS LAW (LEY PARA REGULAR INSTITUCIONES DE TECNOLOGÍA FINANCIERA) (“FINTECH LAW”).

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The National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores) (“CNBV”) prepares its initial recommendations to the Law to Regulate Financial Technology Institutions Law (Ley para Regular Instituciones de Tecnología Financiera) (“Fintech Law”). Read more   Pursuant to Articles 18, 36, 44 and 48 of the Law to Regulate Financial Technology Institutions Law […]

Banking & Finance

THE FINANCIAL TECHNOLOGY INSTITUTIONS LAW (LEY DE INSTITUCIONES DE TECNOLOGÍA FINANCIERA) (“FINTECH LAW”) IS PUBLISHED IN THE FEDERAL OFFICIAL GAZETTE (DIARIO OFICIAL DE LA FEDERACIÓN)

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The Financial Technology Institutions Law (Ley de Instituciones de Tecnología Financiera) (“Fintech Law”) is published in the Federal Official Gazette (Diario Oficial de la Federación)   Read More   On March 9, 2018, the federal Executive branch, published in the Federal Official Gazette (Diario Oficial de la Federación) the Financial Technology Institutions Law (Ley de […]

Banking & Finance

CHAMBER OF DEPUTIES APPROVES THE FINANCIAL TECHNOLOGY INSTITUTIONS LAW (LEY DE INSTITUCIONES DE TECNOLOGÍA FINANCIERA) (“FINTECH LAW”)

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Chamber of Deputies approves the Financial Technology Institutions Law (Ley de Instituciones de Tecnología Financiera) (“Fintech Law”) Read More   On March 1st, 2018, the Chamber of Deputies, sitting en banc, approved by majority the bill of the Financial Technology Institutions Law (Ley de Instituciones de Tecnología Financiera) (“Fintech Law”), and remitted the bill to […]