The general regulations on money laundering were published on April 16th, 2019. These provisions establish self-regulation programs for the subjects that carry out vulnerable activities and that are not up to date with their obligations.
On April 9th, 2019, was published in the Federal Official Gazette the notice by means of which the investigating authority of the Federal Economic Competition Commission (COFECE by its acronym in Spanish) reports the initiation of an investigation by the possible commission of absolute monopolistic practices in relation to the production, distribution and commercialization of maize flour in Mexican territory.
The Amends to the Industrial Property Law of May 18, 2018, incorporated the possibility of requesting the registration of non-conventional trademarks in Mexico, by modifying the definition of “trademark” as follows: “It is understood by Trademark, all sign perceptible by the senses and capable of being represented in a way that allows to determine the clear and precise object of protection, which distinguishes products or services from others of the same species or class in the market.”
The Constitutional amendment will extend the reach of causes that extinguish the ownership of assets. Likewise, the constitutional amendment of the subsection XXX of the article 73 will empower the Congress to elaborate an act regarding the extinction of ownership.
On March 5th, 2019, was published in the Federal Official Gazette the notice by means of which the investigating authority of the Federal Economic Competition Commission reports the initiation of an investigation by the possible commission of relative monopolistic practices on the liquefied petroleum gas industry in Mexican territory.
On March 20th, 2019, the acknowledgement of the traditional Mexican beverage called “Tequila” as a Geographic Indication in the European Community will come into force.
The “Industrial Productivity and Competition Program” is an economic support program from the Secretary of Economics, with national reach, which targets entrepreneurial organisms, legal entities, as well as civil associations that belong to the manufacture industry and have at least 51 workers registered in the Mexican Institute for Social Security.
The Central Bank in Mexico (“Banco de Mexico” or Banxico for its acronym in Spanish) announced that, for this year, a new payment platform will be presented, same that promises to revolutionize the industry in the way we make our payments, not only online, but face to face.
The Federal Civil Code and the civil codes of the different states of Mexico, provide the possibility to grant powers of attorney through a public deed formalized by a Notary Public under certain conditions.
