Implications of the 2020 economic crisis for the financial factoring market
As acknowledged by the President of Mexico, Andrés Manuel López Obrador, the country will face an inevitable economic crisis this year, mainly due to Covid-19, as well as the collapse in oil prices, the fall of the stock market, among other factors. This crisis, like any other, generates uncertainty as to the consequences it will […]
Suspension of jurisdictional activities
Based on the provisions of Articles 1, third paragraph, and 4, fourth paragraph, of the Political Constitution of the United Mexican States, which bind the Supreme Court of Justice of the Nation (SCJN) to adopt the necessary measures to protect the health of all persons, and considering the risk implied by the health contingency derived […]
General Health Council Formally Installed
As a consequence of the current pandemic caused by COVID-19, as pointed out by the World Health Organization on March 11, 2008, there was still no formal declaration of a sanitary emergency in Mexico until yesterday, despite the fact that the Mexican Constitution expressly states that in case of serious epidemics, the General Health Council […]
New 6% IVA withholding tax
Our partner Rafael Tena Castro was invited to be part of the Committee for the ninth edition of the specialized publication “Legal”, a supplement of the newspaper El Economista in collaboration with vLex.
New regulations for the Federal Consumer Protection Law
Last December 19, 2019, the new regulations of the Federal Consumer Protection Law (the “New Regulations”) were published in the Official Gazette of the Federation, abrogating the current regulations, enacted in 2006 (hereinafter, the “Abrogated Regulations”).
National Infrastructure Investment Agreement with the Private Sector
The full publication of the National Infrastructure Plan will be announced at the beginning of 2020.
The National Infrastructure Information System is created
On October 28, 2019, the Guidelines for the delivery, registration and consultation of information for the conformation of the National Infrastructure Information System (the “SNII”), which were previously approved by the Plenary of the Federal Telecommunications Institute (the “Guidelines”), were published in the Official Gazette of the Federation.
Jurisdiction to settle a dispute arising from adhesion banking contracts
Practically all existing legal relationships between banking service providers and their customers are governed by the provisions of adhesion contracts, which the Federal Consumer Protection Law defines as the formats in which a provider unilaterally determines the terms and conditions to be applied to the provision of a service, i.e., customers or users acquire certain […]
Acedo Santamarina “Ten years of recognition”.
For the tenth consecutive year, Acedo Santamarina, S.C. was recognized by The Legal 500 (Latin America Guide 2019), Chambers and Partners and Who’s Who Legal as one of the best law firms in Mexico.
The deadline for Financial Technology Institutions (the “FTIs”) to submit their application to the National Banking and Securities Commission (CNBV) has expired.
In 2013, the Mexican authorities were questioned regarding the domestic regulatory process for FTTs, which prompted them, together with the industry itself, to study, explore and work on the creation of regulations that would address the national and international context in this area. In 2018, the Law to Regulate Financial Technology Institutions, better known as […]