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Ramos, Ripoll & Schuster | Mexico | 13 Dec 2022
Cryptoassets & Blockchain in Mexico
Ramos, Ripoll & Schuster | Mexico | 8 Nov 2022
Changes to CONDUSEF registration obligations
🕑 4 minutes The National Commission for the Protection and Defense of Financial Services Users (CONDUSEF) recently published the Provision on Registration in the Federal Official Gazette. These provisions introduce changes in the way financial institutions must comply with their registration obligations with the CONDUSEF. The purpose is to ensure that all the information management of the......
Ramos, Ripoll & Schuster | Mexico | 6 Sep 2022
Digital onboarding for financial entities
This article discusses anti-money laundering (AML) provisions for financial entities, their obligation to identify clients, the possibilities to carry out digital onboarding, the characteristics of such transactions and the process that must be followed. The main AML measure with which financial entities must comply is to design a client identification policy. This policy must be part of......
Ramos, Ripoll & Schuster | Mexico | 1 Jul 2022
New decree bans marketing of all electronic nicotine and non-nicotine delivery systems
A decree that prohibits various nicotine-related items from being circulated and marketed in Mexico recently entered into force. This follows the publication of the Decree amending the Tariff of the General Import and Export Duties Law in October 2021. In case of non-compliance, penalties will be imposed.
Ramos, Ripoll & Schuster | Mexico | 24 Jun 2022
Payment of import duties is exempted for goods of basic basket and inputs
President López Obrador recently published a decree in the Federal Official Gazette that exempts the payment of import duty upon the import of certain goods. The purpose of this decree is to decrease inflation and slow the fall of the Mexican family's consumption of basic goods. Certain basic basket goods and inputs became exempt from import duties when the decree came into force. It will......
Ramos, Ripoll & Schuster | Mexico | 21 Jun 2022
Raising funds alternatives with financial institutions
The most regulated and protected activity in the financial sector is raising funds in any form. However, it is not only credit institutions (banks) that can carry out fundraising activities – popular financial companies (Sofipos) and savings and loan cooperative companies (Socaps) are authorised to raise funds from the public as well. This article sets out the operation levels of Sofipos and......
Ramos, Ripoll & Schuster | Mexico | 10 Jun 2022
Secretary of Economy issues general rules and criteria on foreign trade matters
The Secretary of Economy recently published the Accord through which the Secretary of Economy issues the General Rules and Criteria on Foreign Trade in the Federal Official Gazette. This article answers the most important questions that the new Accord has raised.
Ramos, Ripoll & Schuster | Mexico | 30 May 2022
Current status of Mexican electricity market
The electricity market in Mexico has had a particularly tumultuous first half of 2022. This article explains the main implications of three significant recent events, how industry players can expect the following years to be and what measures they can take to protect their interests.
Ramos, Ripoll & Schuster | Mexico | 5 Apr 2022
Guarantee of hearing despite entry in blocked persons list
The list of blocked persons (LBP) is a confidential precautionary measure issued by the Financial Intelligence Unit, the purpose of which is to prevent and detect operations in the financial system that could be related to the commission of crimes or operations with resources of illicit origin or financing of terrorism. A procedure was recently established to guarantee a party a hearing,......
