Blog

Mexico City, April 8th, 2020. On March 31st, 2020, Mr. Juan Pablo Graf Noriega, President of the National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores) (“CNBV“) issued a statement addressed to the banking institutions, in which he mentioned the necessary recommendations regarding the payment of dividends, repurchase of shares and other benefitsRead more

Mexico City, April 8th, 2020.   On April 2, the “Decree ordering the extinction or termination of public trusts, public mandates and similar mandates” (Decreto por el que se ordena la extinción o terminación de los fideicomisos públicos, mandatos públicos y análogos) (the “Decree”) was published in the Federal Official Gazette (Diario Oficial de laRead more

Mexico City, March 26th, 2020. On March 24, Juan Carlos Jiménez Rojas, General Director of the Mexican Banking Association (Asociación de Bancos de México) (“ABM“), sent a letter to the President of the National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores) (“CNBV“), Mr. Juan Pablo Graf Noriega, in which the existence ofRead more

Mexico City, March 26th, 2020. The current uncertainty in the world economy and the losses in the national stock market, generates concern about possible damage to the economy, derived from the pandemic caused by the virus COVID-19. In recent days, the Mexican Stock Exchange (Bolsa Mexicana de Valores) (“BMV“) recorded losses that place it inRead more

Mexico City, March 20th, 2020.   On March 10, 2020, the Mexican Central Bank (Banco de México) (“Banxico“) published in the Federal Official Gazette (Diario Oficial de la Federación) (“DOF“, by its Spanish acronym) Circular 2/2020 where the first secondary provisions of the open banking model (“Open Banking”) were issued, as contemplated in the LawRead more

Mexico City, November 11th, 2019.   On October 30th, 2019, the CNBV and SHCP published through the Official Gazette of the Federation (Diario Oficial de la Federación) (“DOF“) the Resolution modifying the Resolution modifying the general provisions applicable to brokerage firms, published on December 12, 2018.   Likewise, it is important to emphasize that itRead more

Mexico City, November 8th, 2019.   On Friday, November 1, 2019, the CNBV and the SHCP published through the Official Gazette of the Federation (“DOF”) the Resolution amending the general provisions applicable to credit institutions where Article 218 Bis is amended, stating that the credit institutions in carrying out operations referred to in Articles 46,Read more

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 (LeyRead more

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 alternativesRead more

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, theRead more