News
2020
07
April 07, 2020
Banking and Finance
Newsflash - Administrative order to terminate public trusts, public mandates and similar instruments
On Thursday, April 2, 2020, Andrés Manuel López Obrador, President of the United Mexican States, ordered the publication in the Official Federal Gazette (“DOF”) of a decree directing the termination of public trusts (but only in respect of public trusts that do not have...
03
April 03, 2020
Banking and Finance
Newsflash - COVID-19 - CNBV issues recommendation regarding the payment of dividends, repurchase of shares and other benefits of stockholders of banking institutions
With the purpose of strengthening banking institutions in Mexico, on March 31, 2020, the National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores) (“CNBV”), issued a recommendation so that such institutions abstain from paying dividends, repurchasing...
03
April 03, 2020
Compliance, Anti-corruption and Investigations
Newsflash - COVID-19 Compliance and Anti-Money Laundering (AML)
The Financial Intelligence Unit (UIF) and the Mexican Internal Revenue Service (SAT) in a joint communication indicated that, in case of any delay in the regulatory compliance in AML obligations as a result of COVID-19, obligated parties can request before the SAT an authorization to implement a...
03
April 03, 2020
Banking and Finance
Newsflash - CNBV issues special accounting treatment for banks
On March 25, 2020, in an effort to mitigate the economic effects of the COVID-19 health contingency and in response to requests made by financial institutions in Mexico, the National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores) (“CNBV”), issued...
03
April 03, 2020
Banking and Finance
COVID-19 NEWSFLASHES
Below you will find relevant news related to the COVID-19: CNBV | Recommendation regarding the payment of dividends, repurchase of shares and other benefits of stockholders of banking institutions CNBV issues special accounting treatment for banks Compliance and Anti-Money Laundering...
02
April 02, 2020
Banking and Finance
Newsflash - COVID-19 – Declaration of Sanitary Emergency due to Force Majeure
On March 30, 2020, the National Health Council published a decree in the Official Federal Gazette (the “DOF”) pursuant to which it declared the epidemic generated by the COVID-19 disease as a state of sanitary emergency due to force majeure and authorized the Ministry of Health to...
02
April 02, 2020
Banking and Finance
Ritch Mueller represented BBVA Bancomer in connection with a loan from Rassini
Ritch Mueller represented Bancomer, in a senior secured loan agreement of USD$470 million to Rassini, to refinance existing debt. Read note (only available in Spanish) Other media: Global Legal Chronicle...
31
March 31, 2020
Competition and Antitrust
Newsflash - COFECE's position with respect to the COVID-19 health emergency
The Federal Commission of Economic Competition (“COFECE” or the “Commission”), as a result of the current health emergency, has joined the efforts of various agencies of the Mexican Federal Government to reduce the risk of the spread of the virus, by issuing a ruling...
29
March 29, 2020
Tax
Newsflash - COVID-19 Tax Considerations (in the absence of tax incentives)
It is a reality the negative economic impact that companies and individuals around the world are facing as a consequence of the COVID-19 pandemic. Nevertheless, the Mexican Government has decided not to grant any fiscal or tax incentives in connection with federal taxes, such as income tax, VAT or...
26
March 26, 2020
Banking and Finance
Newsflash - COVID-19 – Potential Effects on Contractual Obligations
As the effects of COVID-19 pandemic continue to be felt across the globe, many governments have implemented measures aimed at preventing the spread of the disease. Such measures may have significant impacts on the ability of parties to perform their obligations pursuant to international commercial...
