Due to the recent publication of the meeting minutes of the Mexican Federal Economic Competition Commission (COFECE) reunion held on June 7, in which the present commissioners voted against adopting the guidelines presented by the investigative arm of such Commission, our Partner Fernando Carreño and other elite lawyers in competition expressed their opinion about this decision.

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In this piece, elite Mexican lawyers, including our Partner Claus von Wobeser, say the victory of leftist candidate Andrés Manuel López Obrador (AMLO) is a testament to the country’s frustration with the levels of corruption; they argue the new president must now outline concrete plans to tackle the issue in order to boost the country’s business and investment climate.

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By press release published on July 4, 2018, the National Banking and Securities Commission (“CNBV” for its acronym in Spanish) indicated that the first general provisions relative to the Law regulating Financial Technology Institutions (“Law” or “FinTech Law”) will be published in September, thereby complying with the first period established in the transitory articles of the mentioned Law.

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This 1^st of July, Mexico lived its largest election in history. Andrés Manuel López Obrador (“AMLO”) won the presidential run in a landslide with a majority greater than 50% of the electorate. A substantial part of AMLO’s presidential campaign rested on criticizing head-on the overwhelming corruption that heavily weighs on our country.

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López Obrador was elected Mexican president on July 1^st with 53% of the vote and will assume office in December. He was branded a populist left-winger by his opponents, but senior partners in Mexico’s legal community expect his presidency will bring modest change and even fresh opportunity. Our Partner Luis Burgueño shared his views in this matter.

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We are proud to have been featured in the special article on lawyers by Forbes- How to Combat Corruption. Our Partner Diego Sierra, expert in anticorruption, gave his opinion for this piece. 

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On June 25, 2018, a Decree was published in the Official Federal Gazette amending various provisions of the Customs Law. 

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On June 14, 2018, an amendment (the “Amendment”) to articles 73 and 129 of the General Law of Commercial Companies (Ley General de Sociedades Mercantiles) (“LGSM”) was published in the Federal Official Gazette to have the entries of the special partners’ registry (libro especial de socios) of Mexican limited liability companies and stock registry of Mexican stock corporations (registro de acciones), published in the PSM (Sistema Electrónico de Publicaciones de Sociedades Mercantiles), the electronic system of the Ministry of Economy.

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Our Partner Fernando Carreño shared his opinion on the topic.

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Von Wobeser y Sierra, S.C. advised Faurecia Sistemas Automotrices de México, S.A. de C.V. in the management of a renewable energy supply contract.

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