SEPTEMBER 2008 EDITION ARCHIVE
Legal Updates
Mexico Passes New Law Regulating Credit Unions
On August 29, 2008 Mexico published a new Credit Union Law (Ley de Uniones de Crédito) in the Official Journal of the Federation (Diario Oficial de la Federación). The purpose of such new law is to regulate the creation and operation of Credit Unions, as well as the transactions they may carry out. The new law repeals various provisions of the General Law of Organization and Activities of Auxiliary Credit Institutions (Ley General de Organizaciones y Actividades Auxiliares... [Read More]Environmental Law Update –Constitutional Controversy and Impact on the Area of Tulum, Quintana Roo
On April 9, 2008 the City Council of Solidaridad, Quintana Roo published in the official newspaper of the Quintano Roo State Government its Urban Development Program for the Tulum Population Center 2006 – 2030 (Programa de Desarrollo Urbano del Centro de Población de Tulum 2006-2030 or PDUT). The PDUT deals with the urbanization of the Tulum National Park and Archeological Zone, which are protected under Mexican federal jurisdiction. Before the publication of the PDUT, the... [Read More]Amendments to Monterrey’s Public Safety Regulations
On August 27, 2008, an amendment to the Municipal Regulations for the Public Safety of the city of Monterrey was published in the Official Newspaper of the State of Nuevo Leon. Among such reforms is the addition of a table to determine Risk Grade of Establishment (Tabla de Determinación del Grado de Riesgos en los Establecimientos) or (Risk Table). The Risk Table classifies properties that are inhabited or frequented by individuals in order to establish means of prevention and... [Read More]Business & Politics Outlook
300 Palabras - Mexico’s Supreme Court Issues Decision on Abortion; The Debate Continues
Opinion by Dr. Mario Melgar-Adalid Legal reforms decriminalizing abortion in Mexico City have divided Mexicans. The Mexican Federal Attorney General’s office and National Commission of Human Rights have opposed such reform through the filing of a legal action to hold the decision unconstitutional because, in their view, a conflict exists between reforms approved by the Federal District Legislative Assembly and current provisions of the Mexican Federal Constitution. In judicial circles, it... [Read More]New Presidential Address from Felipe Calderon
September 1st will no longer be the date of Mexico’s annual Presidential Address. A recent amendment to Mexico’s federal Constitution (Constitución Política de los Estados Unidos Mexicanos) changed an old tradition that has lost its reason to exist. Considered in Mexico to be President’s Day, the practice of delivering a Presidential Address before Mexico’s Congress, traditionally an occasion for the President to bask in attention and raise the presidential... [Read More]Evaluation of President Calderon’s Administration as of August, 2008: Economic Themes Dominate
According to a poll conducted by the Consulta Mitosfki firm, Mexican President Felipe Calderon’s approval rating stood at 59% for the second consecutive month as of August 2008. Such approval level is not the lowest of his administration, but is a decrease from the 60% approval rating his administration enjoyed in August, 2007 and for the first six months of 2008. Among those polled, the predominant concern was Mexico’s economy as 76% had a negative perspective while only... [Read More]U.S. House of Representatives Approves Law Terminating Cross-Border Trucking Demonstration Program
On September 9, 2008 the U.S. House of Representatives approved a law ordering the U.S. Secretary of Transportation to immediately terminate the Cross-Border Trucking Demonstration Program which allows Mexican motor carriers to enter the interior of the United States to deliver and pick up freight as part of an international cargo route. In addition, the law requires the Secretary of Transportation to refrain from issuing any authorization to Mexican trucking companies if such has not already... [Read More]Economic Indicators
Pesos/Dollar Exchange Rate
The quoted exchange rate as of September 11, 2008 was $10.59 pesos per dollar.Mexican Stock Exchange
The Mexican Stock Exchange (BMV) closed on September 11, 2008 at 25,552.49 points.Interest Rates
On September 11, 2008, the Average Interbank Interest Rate (TIEE) for a 28-day period was at 8.66%.Mexico IP Info
Intellectual Property Notes – Famous and Commonly Recognized Trademarks
Mexican Intellectual Property Law has as one its purposes the protection of manufacturers and sellers of goods, as well as services providers, in relation to the distinctive trademarks they use for their products or services, as well as protecting the public consumer by avoiding confusion of such protected products or services in the marketplace. For this purpose, Mexico’s Industrial Property Law (Ley de la Propiedad Industrial) contains a catalog of names, designs for three dimensional... [Read More]