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ARTICLE · 09 NOVEMBER 2017

Mexican President Submits Bill For Fintech Act To Congress

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On October 19, 2017, President Enrique Peña Nieto submitted to the Mexican Congress a proposal to adopt a Financial Technology Institutions Act...

MexicoTechnology
Teofilo Berdeja Prieto
Teofilo Berdeja Prieto

On October 19, 2017, President Enrique Peña Nieto submitted to the Mexican Congress a proposal to adopt a Financial Technology Institutions Act (the "FinTech Act") and amend a number of statutes related to the FinTech Act.

Please refer to our memorandum dated August 21, 2017 for a review of the proposal.

The following are highlights of the last changes made to the proposal, after our memorandum and before submitting the same to Congress:

  • Procedures for obtainment of the previous opinion of relevant authorities, as required, in respect to the authorization of the National Banking and Securities Commission ("CNBV") for the incorporation of Financial Technology Institutions ("ITF's"), are streamlined.

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