White & Case LLP (JD Supra Mexico)

Following our client alert published on March 30, 2021, the "decree by which several provisions of the Hydrocarbons Law are amended and added" (the "Reform") was published on May 4, 2021 and entered into effect on May 5, 2021.

On April 23, 2021, the Decree amending, adding and repealing several provisions of the Federal Labor Law, the Social Security Law, the Law of the National Workers' Housing Fund Institute, the Federal Tax Code, the Income Tax Law and the Value Added Tax Law, the Federal Law of Employees in the Service of the State, Regulatory of Section b) of Article 123 of the Constitution, the Regulatory Law of...

On March 26, 2021, Mexican President Andrés Manuel López Obrador sent to the Chamber of Deputies the "initiative to modify the Hydrocarbons Law," (the "Initiative"). The Initiative intends to modify relevant aspects of permits for the hydrocarbons sector in Mexico by amending several articles of the Hydrocarbons Law (Ley de Hidrocarburos, "LH") and establishing six transitory articles. Among...

On February 25, 2021, the National Agency for Industrial Safety and Environmental Protection of the Hydrocarbon Sector ("ASEA")1 published the "General administrative provisions that establish the Guidelines regarding the financial mechanisms that the Regulated parties must have in accordance with the provisions of articles 116 and 117 of the Hydrocarbons Law" (the "Guidelines").

Following our client alert published on November 17, 2020, it is informed that the Resolution that establishes the products whose import and exports is subject to regulation by the Ministry of Energy (the "Resolution") was published on December 26, 2020 and entered into effect on the 28th of the same month and year.

On December 17, 2020, the National Hydrocarbons Commission ("CNH") published in the Federal Official Gazette ("DOF") the Resolution CNH.E.50.002/2020 (the "Resolution"), by means of which the Administrative Provisions regarding Bidding for Exploration and Production Contracts of Hydrocarbons were amended (the "Provisions"). The Provisions regulates the acts and stages of the bidding process...

On December 1, 2020, the Ministry of Economy ("SE") and the Ministry of Energy ("SENER") published the preliminary draft (the "Preliminary Draft") of the Resolution that establishes the products whose import and export is subject to regulation by the Ministry of Energy (the "Resolution") by means of which...

On December 4, 2020, the Mexican National Banking and Securities Commission (the “CNBV”) issued through its website two notices informing the general public of the following: I. Notice to the general public regarding authorized agents (comisionistas) Financial entities authorized by the CNBV...

Following our client alert published on October 12, 20201, described below are the projects announced in the Second Infrastructure Investment Plan, which includes 29 new projects, representing a total amount of MXN $228 billion pesos (approximately USD $11.4 billion). Second Infrastructure Investment Plan - On November 30, 2020, President Andrés Manuel López Obrador, together with the...

Foreign direct investments, whether undertaken directly or indirectly, are generally allowed without restrictions or the need to obtain prior authorization from an administrative agency - The Foreign Investment Act and its regulations (jointly, the FIA) constitute the main statutory framework governing foreign direct investment (FDI). In some specific instances, sectorial statutory frameworks

Agreement for Economic Reactivation - On October 5, 2020, President Andrés Manuel López Obrador, together with the Business Coordinating Council, executed the Agreement for Economic Reactivation (hereafter the "Plan"), which includes a set of actions and infrastructure projects to be financed primarily by private capital...

On October 12, 2020, the Resolution that reformed the General Rules applicable to Credit Institutions (the “Resolution”), issued by the Mexican Banking and Securities Commission (the “CNBV”), was enacted in the Federal Official Gazette... 

On October 7, 2020, the Energy Regulatory Commission (Comisión Reguladora de Energía, "CRE") published in the Federal Official Gazette ("DOF")  a resolution (the "Resolution") to amend the "General provisions that establish the terms to request an authorization to modify or transfer electricity generation permits or electricity supply permits,"  in connection with the possibility of modifying...

On September 30, 2020, the Mexican Central Bank (Banxico) published in the Federal Official Gazette Regulation 36/2020 addressed to securities issuers and Securities Depository Institutions, governing the electronic issuance of securities required to be deposit in Securities Depository Institutions (the "Rules")...

On September 25, 2020, the Federal Executive submitted to the House of Representatives an amendment bill regarding an "INITIATIVE WITH DECREE PROJECT THROUGH WHICH CERTAIN PROVISIONS OF THE SOCIAL SECURITY LAW (LEY DEL SEGURO SOCIAL) AND THE RETIREMENT SAVINGS SYSTEMS LAW (LEY DE LOS SISTEMAS DE AHORRO PARA EL RETIRO) ARE AMENDED, ADDED AND REMOVED" (the "Bill")...

On July 29, 2020, the Board of Commissioners of the Energy Regulatory Commission ("CRE") approved the "Regulatory Program 2020" (the "Regulatory Program") by means of Resolution No. A/024/2020. The Regulatory Program is a planning program of CRE that sets forth secondary regulation intended to be issued or modified, applicable to both the electricity and hydrocarbon markets; as well as the...

The Federal Judicial Branch published on August 14, 2020, on the Weekly Federal Judiciary, certain jurisprudence criteria related to the energy sector. In particular, the criteria relates to the jurisdiction of the District Courts to validate contracts for surface use or occupation (contratos para el uso u ocupación superficial “COS”) provided in article 105 of the Hydrocarbons Law (Ley de...

Latin American loan issuance has felt the effects of COVID-19 disruptions, but lenders have remained open for business as borrowers turn to bilateral loan revolving credit facilities for liquidity. Loan markets in Latin America (including the Caribbean) fell into steep decline in the first half of 2020 as the COVID-19 outbreak caused the region’s economies and stock markets to tumble.

On August 3, 2020, the National Hydrocarbons Commission (the "CNH") published through the Federal Official Gazette, the resolution whereby the CNH establishes several measures in order to promote the development of petroleum activities (the "Resolution") approved at the Extraordinary Session of the Board of Commissioners of the CNH dated July 16, 2020.

On June 30, 2020, the Mexican Central Bank (Banxico or Central Bank) issued a press release announcing the amendments to be made to Rules 20/20201 and 25/20202, which shortly will be published in the Federal Official Gazette.

On July 28th of this year, the Supreme Court of Justice of the Nation (“SCJN”) and the Council of the Federal Judiciary issued a statement on the suspension of time limits and the resumption of activities after the period during which it had been suspended in response to the SARS-CoV2 virus (COVID-19) virus epidemic, including the adoption of strict social distancing measures and arrangements to...

On July 15, 2020, the National Banking and Securities Commission (the "CNBV") published in the Federal Official Gazette ("DOF") a resolution establishing administrative measures to resume activities during the contingency derived from SARS Cov-2 (COVID-19) (the "Resolution").

On July 8, 2020, the Ministry of Energy ("SENER") issued through the Federal Official Gazette, the Energy Sector Program (Programa Sectorial de Energía) 2020-2024 (the "PROSENER"). PROSENER is a planning instrument  derived from the National Development Plan and contains the priority objectives, strategies and actions to be  taken for the development of the energy sector in accordance with the...

On Sunday June 21, 2020, the Mexican Banking and Securities Commission ("CNBV") ?in charge of the anti-money laundering and counter-financing of terrorism ("AML/CFT") supervision of the banking sector in Mexico? communicated temporary simplification guidelines on certain know-your-customer ("KYC") measures. Said guidelines are, in turn, part of draft regulation in process of enactment. ...

On June 2, 2020, the following Rules, related to the provisional measures taken due to the COVID-19 pandemic, were published in the Federal Official Gazette: A. Rule 20/2020, addressed to multiple banking and development banking institutions, concerning the Rules applicable to the provision of resources to credit institutions to channel credit to micro, small and medium companies, as well as...

Additional measures to promote an orderly behavior in the financial markets strengthen credit granting channels and provide liquidity for the sound development of the financial system in Mexico.

On May 15, 2020, the National Commission of the Retirement Savings System (CONSAR) published in the Federal Official Gazette, the amendments and additions to the General Provisions regarding the Operations of the Retirement Savings Systems ("Operations Circular"), in order to...

As part of the First Resolution of Modifications to the Miscellaneous Tax Resolution for 2020 published on May 12, 2020, a new rule was added (Rule 13.3.), in which the Revenue Service Administration ("SAT") suspended the legal terms and periods during which certain acts and procedures by and before tax authorities must be carried out....

On May 7, 2020, the Federal Antitrust Commission (Comisión Federal de Competencia Económica, “COFECE”) issued the opinion No. OPN-006-2020 (the “Opinion”) in regard to the “Resolution to ensure the efficiency, quality, reliability, continuity and safety of the National Electric Grid, in recognition of the SARS-CoV2 (COVID-19) disease epidemic” (the “Resolution”), published by the National Energy...

Effective as of April 23, 2020, the Mexican Competition Commission (“COFECE”) issued emergency regulations providing that, during and as long as the coronavirus  pandemic is considered a health emergency, the service of process of official communication and resolutions in ongoing procedures—that according to applicable law must be served in person (“In-Person Communications”) —can be performed...