Last
Friday, May 6, Mexico's Banking and Securities Commission published
a resolution amending the "General Provisions Applicable to Issuers of Securities and
other Market Participants". The
resolution was published in the Federal Official Gazette (Diario Oficial de la Federación), the main publication of Mexico’s
federal government.
The amendment
(a) is intended to clarify certain aspects relating to the information that is
to be disclosed by issuers of securities participating in one or more
contracts for the exploration and extraction of hydrocarbons, (b) provides
guidelines for the preparation and filing of annual reports, and (c) extends
the term during issuers can submit their initial filings.
Because
the resolution is already in full force and effect, issuers should contact
legal counsel at their earliest convenience to understand its implications and be
ready to submit the required reports in proper time and form.
Mauricio Leon de la Barra is a business and real estate
counselor and attorney at law. He is one of the few attorneys licensed to
practice law in both Mexico and California, and has more than 15 years of
experience handling all type of business, corporate and real estate
transactions.
Rebeca
Sanchez Perez has extensive experience practicing corporate and finance law.
She advises Mexico and international clients on a variety of matters, including
foreign investment, corporate restructuring, minority rights, mergers,
acquisitions and joint ventures, data protection, and public and private
financing, such as the incorporation of private equity funds.