AUGUST 2007 EDITION ARCHIVE
Legal Updates
Compensatory Duties Expire
On September 8, 2006, the International Commercial Practices Unit (known by its initials in Spanish UPCI) of the Mexican Department of the Economy published in the Official Journal of the Federation a decree giving notice of the elimination of compensatory duties imposed on the following products: steel I-beams originating in the Federal Republic of Brazil (deadline to file notice of interest: August 28, 2007); furazolidone originating in the People’s Republic of China and European Union (filing... [Read More]Recent Legal Decision
A recent decision of the Mexican Supreme Court holds that public authorities not designated as responsible parties in a constitutional amparo lawsuit are obligated to take all actions necessary to enforce the terms of an amparo lawsuit judgment. In this manner, even though a governmental authority has not been included as a party in an amparo lawsuit, such authority will be obligated to follow the amparo decision. The change yields significant practical value and efficiency. This... [Read More]New Regulations for Insurance and Reinsurance Activities in Mexico
On July 24 the Department of Finance and Public Credit (SHCP) published in the Official Journal of the Federation (DOF) new regulations for insurance and reinsurance transactions denominated in foreign currency by mutual insurance institutions and companies in Mexico (Reglas para operaciones de seguro y reaseguro en moneda extranjera celebradas por instituciones y sociedades mutualistas de seguros en el país). The new regulations establish that insurance institutions and companies in... [Read More]Business & Politics Outlook
Mexican Tax Reform Still Under Discussion
The tax reform proposal submitted to the Mexican Congress by the Calderón administration continues to be widely discussed and criticized by various political and business groups in Mexico. The single rate business tax, better known by its initials in Spanish CETU, is without doubt the most controversial element of the new tax proposal. In general, business and political analysts agree that the proposal, as originally submitted, is not viable and represents a step backward in Mexican... [Read More]Elections in Baja California, Oaxaca and Aguascalientes
On August 5, elections took place in three Mexican states. In Baja California, where the governorship was at stake, the National Action Party (PAN) candidate José Guadalupe Osuna Millán defeated the controversial candidate of the Institutional Revolutionary Party (PRI), Jorge Hank Rhon. This race concluded without major surprises. The difference between the candidates was approximately 7%, with the PAN’s nominee receiving 50% of the vote and the PRI’s candidate... [Read More]Mexico Looks Toward Latin America
In recent weeks, the government of President Felipe Calderón has conducted a series of talks with the two most influential countries in South America, Argentina and Brazil. During the first week of August, Calderón met with Argentine President Nestor Kirchner in order to sign an important commercial accord designed to increase reciprocal trade in goods and services. In addition, Mexico reaffirmed its commitment to Argentina and the region, leaving behind the past year’s... [Read More]Economic Indicators
Pesos/Dollar Exchange Rate
The quoted exchange rate as of August 9, 2007 was $10.92 pesos per dollar.Mexican Stock Exchange
The Mexican Stock Exchange (BMV) closed on August 9, 2007 at 29,883.96 points.Interest Rates
On August 9, 2007, the Average Interbank Interest Rate (TIEE) for a 28-day period was at 7.71%.Mexico IP Info
Nullity of Trademarks
Mexican law establishes various causes to nullify registration of a trademark. This item focuses on the cause contained in article 151, section V of the Mexican Industrial Property law (Ley de Propiedad Industrial) which states that any authorized agent, user or distributor of a trademark registered outside of Mexico may request and obtain registration of the foreign trademark in Mexico without consent of the party listed as owner in Mexico if the listed owner’s registration was obtained... [Read More]Feature Website
www.juridicas.unam.mx
This month we recommend our readers visit the website of the Institute of Legal Research of the Mexican National Autonomous University (Instituto de Investigaciones Jurídicas de la Universidad Nacional Autónoma de México or UNAM) at www.juridicas.unam.mx where they will find updated information, legal articles and general sources of information with respect to Mexican law.