The Ministry of Finance published a resolution issued pursuant to the Law of Financial Technology Institutions providing the forms to be used for reporting to the Finance Ministry the appointment of the Compliance Officer, the composition of the Communication and Control Committee, and to report relevant, unusual and internal transactions for Mexican e-wallet and crowdfund institutions.

Fintech institutions must deliver the reports through the electronic system operated by the National Banking and Securities Commission (STIV); the reports related to the first two quarters of 2020 are to be filed within the first ten business days of July.

Thereafter, reports must be delivered within three business days of a transaction being characterized as reportable. For additional information regarding the foregoing, please feel free to get in touch with your usual contacts at Nader, Hayaux & Goebel.

Héctor Arangua L. y Miguel González J. have contributed to the latest edition of Latin Lawyers’ Reference guide on Mergers and Acquisitions.

Latin Lawyer Reference provides answers to key legal and regulatory questions in Latin America on major practice areas. Leading practitioners and local counsel provide insight in over twenty practice areas, across the region. The interactive format allows for quick-and-easy comparisons across jurisdictions.

The Mexico chapter can be downloaded aquí. For more information and access to the expert articles and other jurisdictions, please visit: https://latinlawyer.com/know-how/topics/1000478/mergers-and-acquisitions

Socios Yves Hayaux-du-Tilly L. y Eduardo Villanueva O. contributed the Mexican chapter to ICLG’s 14th edition on Mergers & Acquisitions. Our experts answer over 50 key questions on the regulation, mechanics and strategies of dealmaking in Mexico.

The 20th edition of the International Comparative Legal Guide on Mergers & Acquisitions covers over 50 jurisdictions, and contains three expert chapters by heavyweight firms such as Skadden, Arps, Slate, Meagher & Flom and Wachtell, Lipton, Rosen & Katz.

The Mexico chapter can be downloaded here. For more information and access to the expert articles and other jurisdictions, please visit: https://iclg.com/practice-areas/mergers-and-acquisitions-laws-and-regulations .

Mexico’s Central Bank published today Regulation 2/2020 under the Law of Financial Technology Institutions with respect to the development of API’s by credit bureaus and clearing houses. Such entities should obtain prior authorization of the Central Bank to set up an API by May, 2021.

Application for authorization must include, among others, evidence that the relevant API meets the interoperability standards (set forth in the Regulation), a draft interconnection agreement, and a work plan encompassing technical, legal, corporate governance and operative measures that should be implemented with respect to the API.

Similarly, financial entities and specialized third parties should obtain prior authorization of the Central Bank to access information through the APIs. Sharing of transactional information of users will be subject to an additional authorization by the Central Bank. Rules to obtain such authorization will be forth coming.

For further information with respect to this regulation, please reach out to your regular contacts at Nader, Hayaux & Goebel or contact Adrián López G., Luciano Pérez G., or Gunter Schwandt G.

Partners Héctor Arangua and Adalberto Valadez have contributed the Mexico chapter of the Chambers Investment Funds 2020 Guide.

This cross-border legal guide provides a global comparison of fundamental legal, tax and regulatory considerations relating to the establishment and operation of investment funds in a range of jurisdictions where the industry is active. Each chapter is written by leading legal advisers from the relevant jurisdiction, providing information on the structures typically used, the regulatory framework for those funds, any significant operational requirements, how the funds may be marketed, a summary of the tax treatment for both the fund itself and investors, and customary or common terms.

This guide seeks to provide guidance on the key questions arising when industry participants are seeking to establish, operate, market and/or invest in an investment fund. Investment funds often operate across multiple jurisdictions. Those who understand the global landscape will be at a distinct commercial advantage, as well as minimising their risk of falling foul of local laws.

You can download the PDF of the Mexico chapter aquí.

More info and the 25 country chapters are available on sitio oficial de Chambers.

Este 27 de febrero de 2020, se presentó en Londres la “Agenda del Sector Privado para la COP26” (la "Agenda").Agenda”).

La Agenda consiste en ayudar al sector privado en su transición a una economía sin impacto por emisiones de carbono.

El objetivo es lograr que cualquier decisión financiera profesional tome en cuenta el cambio climático. La Agenda se centrará en crear un marco regulatorio adecuado para la presentación de reportes, la administración de riesgos y resultados para financiar la transición de toda la economía. Lo anterior va a requerir que cada empresa, banco, institución de seguros e inversionista ajuste sus modelos de negocio para un mundo de bajas emisiones de carbono.

La COP 26 –organizada por el Reino Unido e Italia- también buscará mejorar el apoyo a países en desarrollo para poder transitar a un futuro próspero en una economía global de cero emisiones de carbono.

Para mayor información en relación con la Agenda, a continuación encontrará la liga a la página correspondiente https://www.bankofengland.co.uk/events/2020/february/cop26-private-finance-agenda-launch https://www.bankofengland.co.uk/events/2020/february/cop26-private-finance-agenda-launch.

Estaremos dando puntual seguimiento a los trabajos y desarrollo de la Agenda, para lo cual nos ponemos a sus órdenes en caso de que tenga cualquier comentario en relación con lo anterior y para brindarle la asesoría que requiera por lo que respecta a la implementación de la Agenda y la evaluación de su impacto en sus operaciones.

En caso de requerir más información en relación con la Agenda del Sector Privado para la COP 26 o en la aplicación de los objetivos de desarrollo sustentable (ODS) en su negocio, comuníquese con sus contactos habituales en Nader, Hayaux & Goebel o con Yves Hayaux-du-Tilly L. +52 (55) 4170 3003 [email protected] [email protected].

The Firm is proud to share that its Fintech practice was included in Band 1 in the recently released Chambers Guide. The emerging Fintech landscape in Mexico has been a focal point for the Firm for some time, and we are thrilled to see our efforts and work recognized.

Chambers describes our practice as follows: “For many years, Nader, Hayaux y Goebel has operated at the highest level in handling banking and finance and capital markets matters in Mexico via its team’s strong regulatory expertise. In FinTech matters, the firm reinforces its regulatory prowess with an impressive TMT offering. The result is a first-rate FinTech practice with a diverse client base, encompassing international heavyweights and pioneering startups such as neo-banks, payment platforms and crypto-trading solutions.”

“They’ve been been really helpful in assisting us to strategically navigate the market and they’ve clarified tons of questions – even those we didn’t ask.” 

Chambers – Fintech 2020

Client feedback includes: “They are very strong in their expertise. An experienced team and the right connections in the industry. They’ve been been really helpful in assisting us to strategically navigate the market and they’ve clarified tons of questions – even those we didn’t ask.”

We are particularly proud with Adrián López‘ inclusion as Notable Practitioner, individually ranked in Band 2.

He receives effusive praise:

“Adrián López has considerable experience advising leading foreign and domestic financial institutions in connection with M&A transactions, regulatory compliance and business structuring in relation to digital services and products. Clients appreciate his diligent and pragmatic approach in regulatory analysis and his solid advice in groundbreaking new areas of the financial sector such as cryptocurrencies, where the legal framework can be hazardous to navigate”.

The Mexico Chapter of this Chambers Guide can be downloaded aquí.

We inform our clients and friends that on November 28, 2019, the Principles of Reinsurance Contract Law (the “Principles”) were published by the Project Group (joint venture set between several Universities and professors, primary insurance companies’ representatives, reinsurance companies and reinsurance brokers and special advisors) in cooperation with the International Institute for the Unification of Private Law (“UNIDROIT”).

The Principles set specific reinsurance rules applicable to contract law, aiming to help such areas where reinsurance practitioners felt the urgency of improving legal certainty. Principle’s basis were made upon incorporating: (i) uniform rules on general contract law, (ii) uniform system and (iii) a set of standardized terms, which are set up to minimize the interpretation problems of reinsurance contracts.

The Principles only deal with reinsurance specific rules of contract law, considering that issues regarding general contract law are already included in the Principles of International Commercial Contract of 2016 (“PICC”).

The Principles have been drafted as “soft-law”, which means they will work as an optional guide of reinsurance contract law when it is chosen by the parties, and for these principles to have binding effect, the contracting parties should voluntarily choose to do so. However, there is also the possibility that the Principles may be applied by courts or arbitral tribunals, as the case may be, even in cases where the parties have not chosen to apply them.

The Principles are structured as follows: (i) Chapter 1 contains general provisions governing structural issues and the connection between the Principles and the PICC; (ii) Chapter 2 deals with the duties of the contracting parties, which are set upon good faith of the individuals; (iii) Chapter 3 supplement Chapter 2, insofar as it provides remedies in case one of the parties does not comply with its obligations under the reinsurance contract; (iv) Chapter 4 addresses the issue of loss allocation; and (v) Chapter 5 regulates loss aggregation.

The Principles represent a major step in the standardization of international reinsurance contracts.

For further information with respect to the matters set forth above and Insurance Law, please reach out to your regular contacts at Nader, Hayaux & Goebel or any of Yves Hayaux-du-Tilly L. +52 (55) 4170 3003 [email protected] and Luciano Pérez G. +52 (55) 4170 3027 [email protected].

Ángel Escalante C. y Alejandro Gordillo R. in collaboration with ITR talked about how the Mexican Congress approves new limitation to deduct interest based on profits. This unravel the new economic proposal put forth to strengthen compliance with Mexico’s existing tax structure.

You cand download the the full article aquí, or you can visit the ITR website.

Vanessa Franyutti, Alejandro Rojas y Rainer Walz contributed to the 3rd edition of The Legal 500: Real Estate Country Comparative Guide.

The aim of this guide is to provide its readers with a pragmatic overview of the law and practice of real estate law across a variety of jurisdictions.

Each chapter of this guide provides information about the current issues affecting real estate in a particular country and addresses topics such as ownership proof, due diligence, taxes, planning and zoning restrictions, mortgages and environmental contamination as well as insight and opinion on the most common issues in their respective country.

The Q&A template for each chapter has been provided by François Bonteil of Clifford Chance.

You can download a free copy of the Mexico chapter here.