JUNE 2007 EDITION ARCHIVE
Legal Updates
Amendments to Mexican Foreign Commerce Regulations
On June 1st, important amendments to Mexico's Regulations andCriteria of a General Nature in Foreign Commerce matters were published.The most significant amendments included the following: (i) multiplecompanies could be located at the same domicile, whether (a) consisting of two or more companies authorized to operate under the decree for the development of manufacturing, maquiladora and exportation industry ("IMMEX"); or (b) one or more companies with an IMMEX program, along with companies... [Read More]New Draft Rules for Implementing Portability Measures for Fixed Base and Cellular Telephone Numbers
The Mexican Department of Communication and Transportation (SCT), through the Federal Telecommunications Commission (COFETEL) submitted to the Federal Regulatory Improvements Commission (COFEMER) a new version of its pre-draft called "Resolution by which the Authority of the Federal Telecommunications Commission Establishes Rules For the Implementation of Portability of (Telephone) Geographic and Non-Geographic Numbers." The numerical portability provisions refer to the possibility that... [Read More]Social Security Issues – Recent Judicial Decision
The Mexican Social Security Institute ("IMSS") is not authorized to register, on its own authority and unilaterally, workers who are not registered by their employer. In this way, if the IMSS carries out an inspection visit to the employer, resulting in the discovery of workers who have not been previously registered by the employer, the IMSS and its inspectors are obligated to obtain the facts and notify the employer within thirty (30) calendar days after the inspection visit whether all... [Read More]Ability of Good Faith Purchasers to Take Precedence Over Community Property Rights
The various civil codes of Mexico's states provide that in the case of a marriage entered into under the community property marital regime, ownership of all assets lies with both spouses. However, this principle has exceptions as set forth in the matrimonial agreement entered into by the married parties and, according to applicable civil code sections; for example, it is common that the goods acquired prior to entering into the marriage, and those received from a family member by donation or... [Read More]Pre-Arbitral Proceedings
Even though one of the advantages of arbitration is the possibility of resolving possible controversies in a substantially shorter term than what is regularly seen in a judicial proceeding, in certain commercial situations the nature of business implies that parties do not wish to wait for the decision of a competent arbitrator or court. In these cases, with the goal of resolving the dispute or as part of preparation for the arbitral proceeding itself, the parties may agree to a "pre-arbitral... [Read More]Business & Politics Outlook
President Felipe Calderón Presents 2007-2012 National Development Plan
On May 31st, President Felipe Calderón presented the new 2007-2012 National Development Plan ("PND"), addressing public safety, employment, decreasing poverty, the economy, environmental issues, democracy and foreign policy issues to guide the actions of the current administration. President Calderón emphasized that in order to reach the PND's goals it is absolutely necessary that the country introduces pending tax, energy and labor reforms. In addition, the President... [Read More]Tax Reform on the Horizon
Economic and financial analysts have stated that the fiscal reform proposal will be presented by President Calderón in the next several days. If negotiations with the various political parties progress as expected, approval of such reforms could occur in the next few months. It is hoped that the proposal will contain economic policies necessary to maintain public finances in order and be politically viable. The magazine The Economist recently noted that the goals of the reform will be: (i... [Read More]U.S. House of Representatives Approves Safe American Roads Act of 2007
Apparently bowing to pressure from environmental and labor groups in the United States, such as the "Teamsters", the U.S. House of Representatives approved on May 14th the "Safe American Roads Act of 2007", the purpose of which is to re examine the demonstration program proposed by the U.S. Department of Transportation to ensure such program complies with tax, legal notice and public information requirements and, more importantly, demonstrates that Mexican motor carriers will... [Read More]Economic Indicators
Pesos/Dollar Exchange Rate
The quoted exchange rate as of June 7, 2007 was $10.84 pesos per dollar.Mexican Stock Exchange
The Mexican Stock Exchange (BMV) closed on June 7, 2007 at 31,84.49 points.Interest Rates
On June 7, 2007, the Average Interbank Interest Rate (TIEE) for a 28-day period was at 7.71%.Mexico IP Info
Importance of Using Trademarks in Mexico
It is well recognized throughout the World that one must register a trademark in order to claim exclusive use of such. Mexico's Industrial Property Law (LPI) accords great value to the use of trademarks, including use before they are registered. In this sense, the LPI establishes that the registration of a trademark does not take effect against third parties who, in good faith, previously used the same or similar trademark for equal or similar products or services, so long as such third party... [Read More]Feature Website
www.new7wonders.com
We recommend our readers visit the web page of the "Nuevas Site Maravillas del Mundo", (7 New Wonders of the World), www.new7wonders.com,where you may vote for, among others, the pyramid at Chichén Itzá in the Yucatán Peninsula, and the Statute of Liberty, in New York, United States of America.