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ARTICLE · 31 DECEMBER 2013

Financial Reform In Mexico

Jones Day
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Mexican President Enrique Peña Nieto presented a reform bill before the Permanent Commission of Mexico's Federal Congress on May 15, which amends, adds, and repeals 34 statutes, primarily financial in nature.

MexicoFinance and Banking
Héctor Tinoco
Héctor Tinoco
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Mexican President Enrique Peña Nieto presented a reform bill before the Permanent Commission of Mexico's Federal Congress on May 15, which amends, adds, and repeals 34 statutes, primarily financial in nature (hereinafter, the "Financial Reform").

The Financial Reform presented by the President underwent diverse amendments in the Chamber of Deputies on September 10. The resulting bill, which amended, added, and repealed diverse provisions of the Financial Law and issues of the Law of Financial Groups, passed the Chamber of Deputies the same day. Additionally, on November 26, the Senate Chamber passed the bill without any amendments; therefore, to become enforceable, the modified statutes (hereinafter, "The Decree") need only to be promulgated and published in the Official Federation Gazette.

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