General Provisions Regulating the AML Self-Regularization Programs
April, 2019
As we anticipated in our note published on January 25, 2019, on April 16, 2019 the General Provisions Regulating the Self-Regularization Programs (the “Provisions”) were published in the Official Federal Gazette. The purpose of these Provisions is to establish the form, terms and procedures for those bound by them and that have engaged in vulnerable activities according to the Federal Law for the Prevention and Identification of Operations with Resources of Unlawful Origin.
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The Chamber of Deputies passes bill reforming Federal Labor Law
April, 2019
On April 11, 2019 the Chamber of Deputies passed a bill reforming various provisions of the Federal Labor Law, as well as other secondary laws. This reform adjusts the secondary labor legislation to the provisions of the constitutional reform published on February 24, 2017, which changes the labor justice system and establishes the principles of freedom of association and collective bargaining negotiation, among other matters.
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Latin Lawyer- COFECE probes Mexico corn flour market
April, 2019
Mexico’s competition authority is investigating suspected anticompetitive practices in the corn flour market and our Partner, Fernando Carreño, expressed his opinion regarding the relevance of this investigation due to the importance of corn flour in Mexican gastronomy.
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Provisions applicable to Sandboxes issued by the SHCP & CNBV
April, 2019
The Ministry of Finance and Public Credit (the “SHCP”) and the National Banking and Securities Commission (the “CNBV”), on March 11 and 19, 2019, in the scope of their jurisdictions, published in the Official Federal Gazette (the “DOF”) i. the General Provisions applicable to Sandboxes referred to in the Law Regulating Financial Technology Institutions; and ii. the General Provisions relative to companies authorized to operate Sandboxes referred to in the Law Regulating Financial Technology Institutions, respectively (jointly the “Provisions”); pursuant to the Law Regulating Financial Technology Institutions (the “Law”), published in the DOF on March 9, 2018.
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Mandatory compliance with the Network Code initiates for all medium and high voltage users connected to the grid
April, 2019
This past April 8, 2016, the Energy Regulatory Commission (“CRE”) issued the Network Code (Criteria for efficiency, quality, reliability, continuity, security and sustainability of the National Electrical System), which establishes the minimum technical requirements that all members of the electrical industry must meet so the National Electrical System (“SEN”) can reach the technical condition in which it operates without violating operative limits and with sufficient reserve margins to support any kind of contingency.
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Lex Latin- Borr Drilling is awarded a services contract by Pemex
April, 2019
With advice from lawyers of the energy and M&A areas of Von Wobeser & Sierra, S.C., Borr Drilling México, S. de R.L. de C.V. participated in association with Opex Perforadora S.A. de C.V. in the tender called by Pemex Exploración y Producción as an "international restricted invitation". Borr Drilling explained that as part of the contract obtained, Borr will deliver a total of nine offshore development wells to Pemex under an integrated services model.
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Lex Latin- Grupo Modelo invests USD 726 million in production plant in Mexico
April, 2019
Grupo Modelo, owned by the Belgian company Anheuser-Busch InBev, made an investment of USD 726 million in the new plant located in Apan, state of Hidalgo (Mexico). In the transaction, on March 4th, Von Wobeser y Sierra, S.C. advised Anheuser-Busch InBev on corporate, tax, competition and antitrust matters and administrative aspects, as well as on environmental regulatory compliance under Mexican law. The lawyers were also involved in labor and real estate matters of the new plant and it was the only firm that participated in the transaction, for which it gave advice since the announcement of the project in November 2017.
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