The Mexican government on Monday announced a sweeping proposal to limit the reach of telecoms tycoon Carlos Slim and broadcasting giant Televisa as part of efforts to boost competition in Latin America’s second-biggest economy. The bill, which forms part of the most ambitious economic reform agenda in a generation, seeks to establish a powerful industry regulator armed with an array of tools to curb companies’ control of markets, while opening up space for new investors.
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If every government has a defining moment, that of Mexico’s new administration may have come this month when authorities arrested the head of the teachers’ union and put her behind bars without bail.
The study Doing Business 2012 locates the country in the 53rd place of 183 countries. Among the states with the best regulations are Colima and Aguascalientes.
U.S. is the main destination of the Agrifood exports of Mexico, with 74.2% but they also arrive to new markets, such as the Japanese.
The country exported almost 80% of their goods and for 2030 is expected that the neighbor to the north will capture 70% of Mexican exports.
As the global insurance industry prepares for the implementation in 2014 of the new risk-based capital requirements, known as Solvency II, many discussions about how new regulations will be written have been taking place in both local and international forums. Among the countries preparing for Solvency II is Mexico, where recently its Congress passed a new law that essentially sets the scaffolding for implementing Solvency II and merges current laws for the country’s insurance business. The new law’s primary objective is to strengthen the procedures for reserves calculation and defines levels of capital requirement according to each company’s risk profile. In contrast to what the current law required, the new one allows for a more precise distinction between capital and reserve requirements for different business lines under Pillar I of Solvency II, for strengthening corporate governance under Pillar II, and for adding more transparency under Pillar III.