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Plan to promote the financial sector in Mexico
On January 8, 2019, Mexico’s Central Bank (Banco de México), together with the Ministry of Finance and Public Credit (Secretaría de Hacienda y Crédito Público), presented the Plan to Promote the Financial Sector in Mexico (the “Plan”). The following are among the main initiatives of the Plan:
Tax incentives for Initial Public Offerings and interest payments to non-resident holders of corporate bonds
Strengthen the investment regime of the Mexican Pension Funds (Sociedades Administradoras de Fondos para el Retiro) (Afores) and voluntary savings
Changes to the regulation of repo agreements and securities lending
Greater flexibility for financial intermediaries in their repo and securities lending operations
To read the full newsletter, please download the PDF here.
For further information with respect to the plan, please get in touch with your regular contacts at Nader, Hayaux & Goebel.