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
The present alert offers an analysis of the possible legal implications of coronavirus ("COVID-19") in civil and commercial commitments, under Mexican Law. The coronavirus was first notified on December 31, 2019, in Wuhan,...more
On March 26, 2020, the National Banking and Securities Commission (CNBV) issued special accounting standards applicable to credit institutions as consequence of the COVID-19 contingency....more
Listed below are the preventive measures issued by federal and local authorities for the mitigation and control of the SARS-CoV2 pandemic (COVID-19) in Mexico....more
On February 13, 2020, the Energy Regulatory Commission ("CRE") made public knowledge of a preliminary draft that proposes to amend the General provisions that establish the terms to request an authorization to modify or...more
The constitutional energy reform of 2013 allowed private participation in the entire hydrocarbons value chain (i.e., storage). Likewise, this energy reform was aimed at increasing energy security and the timely and sufficient...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
One of the main principles of the constitutional energy reform of 2013 is the sustainability of the national power industry. To such effect, the creation of certain mechanisms was envisioned to enable compliance with public...more
On June 25, 2019 a decree amending the Federal District Law for Solid Waste (“Amendment Decree”) was published in the Official Gazette of Mexico City and entered into force on the day following its publication....more
On April 24, 2019, Pemex's Chief Executive Officer, Octavio Romero Oropeza, as a measure to comply with the presidential instruction of producing more than two million 400 thousand daily barrels by the end of the six-year...more
5/11/2019
/ Energy Exploration ,
Foreign Investment ,
Investment Opportunities ,
Mexico ,
Oil & Gas ,
PEMEX ,
Public Bidding ,
Request for Proposals ,
Resource Extraction ,
Risk-Sharing ,
Tariffs
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
Following the constitutional energy reform in 2013, the Federal Electricity Commission ("CFE") was subject to an organizational and administrative restructure with the purpose to achieve, among other objectives: (i) to...more
4/2/2019
/ Affiliates ,
Amended Regulation ,
Corporate Structures ,
Electricity ,
Energy Sector ,
Federal Electricity Commission (CFE) ,
Mexico ,
Power Plants ,
Restructuring ,
Subsidiaries ,
TESL-CFE
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 23, 2019, the National Agency for industrial Safety and Environmental Protection of the Hydrocarbons Sector ("ASEA") published the "General Administrative Provisions on the Guidelines for the Design, Construction,...more
1/30/2019
/ ASEA ,
Construction Project ,
Crude by Rail ,
Environmental Policies ,
Hydrocarbons ,
Insurance Regulations ,
Mexico ,
New Regulations ,
Oil & Gas ,
Oil by Rail ,
Risk Management ,
Safety Inspections ,
Transfer Restrictions
In recent years, the hydrocarbons theft practice in Mexico has had significant growth. This crime is committed, primarily, by the tapping of the oil-transporting pipelines in order to extract gasoline and diesel products for...more
As a result of the 2013 constitutional reform, Petróleos Mexicanos ("PEMEX") was transformed into a productive state-owned enterprise directed by a General Director and a Board of Directors. Currently, each of them has...more