Doing Business

Doing Business in Mexico 2015

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44 Tax and Legal Services - PwC Mexico Brokers and broker-dealers The Securities Market Law establishes stringent rules for companies acting as broker- dealers and for individual securities brokers, who may not act as dealers or own shares in the companies registered as broker-dealers. Broker-dealers must be Mexican corporations whose shares may not be owned by individual registered brokers, foreigners who are not permanent immigrants or corporations other than Mexican banks and finance companies. The managers and officials of such corporations who deal with the public must be registered brokers. All brokers and broker-dealers must be registered with the National Register of Securities and Intermediaries maintained by the Securities Commission. Imports and exports In the 1990´s Mexico liberalized most import restrictions previously existing and considered internationally as trade restrictions. These actions included significant reductions of import duties and elimination of prior import permits for most merchandise listed in the General Import Duty Tariffs. With respect to exports, Mexico has made significant efforts to encourage companies to export manufactured goods by developing certain Government programs, including temporary duty-free imports to be integrated into exported goods, financing programs and simplifications of official export procedures. Trade agreements are in effect with the United States and Canada (NAFTA), the European Union, EFTA countries (Switzerland, Iceland, Liechtenstein and Norway), Colombia, Guatemala, Honduras and El Salvador, Nicaragua, Costa Rica, Chile, Bolivia, Uruguay, Israel and Japan. Mexico is a member of the World Trade Organization (WTO) and, as such, is streamlining or eliminating trade barriers. Consumer protection All entities (including state-owned corporations) and individuals that manufacture, distribute or sell goods or render services are subject to the Federal Consumer Protection Law. This law was passed to provide consumers with adequate protection against merchants and service providers that do not comply with the minimum standards or specifications for products and services, including e-business. SE is empowered to impose fines and use other coercive measures to protect the consumer. Data Protection Data protection acquired relevance in Mexico in 2009, a constitutional guarantee grants every person the right to the protection, access, rectification, blocking, erasure and destruction of personal data, as well as to opposition to its treatment in the terms stated in the Law. Infringements to the Law will be punished by IFAI (Federal Institute for Access to Information and Data Protection) with fines from 100 to 320,000 days of the General Current Minimum Wage in Mexico. Regarding infringements committed in processing sensitive personal data, sanctions may be doubled.

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