AUGUST 2009 EDITION ARCHIVE
Legal Updates
300 PALABRAS -- Upcoming Two Vacant Seats in Mexico’s Supreme Court of Justice
Opinion by Dr. Mario Melgar-Adalid The anticipation related to the upcoming vacant seats in Mexico's Supreme Court of Justice shows the importance of Mexico's highest court. Mexico's Supreme Court of Justice ceased to be exclusively considered as the court of last resort for judicial proceedings and instead has become the arbiter of political, economic and social life in Mexico. Mexico's 1995 judicial reform altered its structure, composition and powers. The number of justices was... [Read More]Recent Case Decision -- Collection of Bonds
On March 4, 2009, the First Chamber of Mexico's Supreme Court of Justice (Suprema Corte de Justicia de la Nación) issued case decision number 1a./J.96/2008, under the title "Bonds. The notice requirement provided in article 118 Bis of the Federal Surety Institutions Law is a condition precedent that must be met before asserting the collection instrument provided in article 96 of such law." In this decision, the Court held that article 118 Bis of the Federal Surety Institutions... [Read More]Amendment to the Social Security Law on Matters Related to Outsourcing Companies
On July 9, 2009, various amendments to the Social Security Law were published in the Official Journal of the Federation. One amendment, in particular, provides that companies hiring personnel services from an employee outsourcing company will assume, by operation of law, all employer obligations set forth in the Social Security Law with regard to the employees from the outsourcing company that are subordinate to such company contracting the outsourcing of personnel. The foregoing applies if the outsourcing... [Read More]Suspension of IMMEX Programs
On July 14, 2009, the Department of Economy (Secretaría de Economía or SECON) published in the Official Journal of the Federation orders for the suspension of certain IMMEX programs of various program participants. The reasons given for suspending such participant's programs can be classified into two categories: i) failure to submit the annual sales and exports report for the fiscal year of 2008; and/or ii) failure to update their electronic signature, maintain an active tax identification... [Read More]Business & Politics Outlook
Political Thermometer
The aftermath of last month's mid-term elections ensued immediately after the election results were announced. The defeat of the National Action Party (Partido Acción Nacional or PAN) and the Democratic Revolutionary Party (Partido de la Revolución Democrática or PRD) caused serious internal disarray in such parties, which also tarnished their images. While it may be too early to assess the full impact that such crisis will have on the next presidential election in 2012,... [Read More]Canada Requires Visas for Mexican Visitors
The government of Canada, through its Ministry of Citizenship, Immigration and Multiculturalism, announced that effective July 14, 2009 all Mexican nationals will require a visa in order to enter Canada. This new requirement was implemented on July 16, 2009. According to the corresponding official press release, the tripling of refugee applications from Mexican nationals since 2005 led to the imposition of this visa requirement. Mexico is the country with the highest number of refugee status applications... [Read More]Economic Indicators
Peso/Dollar Exchange Rate
The quoted exchange rate as of August 13, 2009 was $12.8658 pesos per dollar.Mexican Stock Exchange
The Mexican Stock Exchange (BMV) closed on August 13, 2009 at 28,155.49 points.Interest Rates
On August 13, 2009, the Average Interbank Interest Rate (TIEE) for a 28-day period was at 4.8655%.Mexico IP Info
Registration of Inventions in Mexico
Mexican law provides that an invention (patent, business model or industrial design) must meet the following requirements before being eligible for registration: That the invention at issue is the result of an invention process. This means that inventions that can be registered must be the product of significant research and development efforts and not a simple idea that occurred to the inventor in a single moment. That the invention at issue has an industrial (business) application. This requirement... [Read More]