The general director of the Mexican Stock Exchange (BMV), José Oriol Bosch, hoped that in September the initiative to reform the Securities Market Law and the Investment Funds Law (LMV) would be approved in the Chamber of Deputies to begin to outline the secondary rules and apply them as “as soon as possible” for the benefit of medium-sized companies and all participants in the stock market system.
“We are convinced that it is a good opportunity to develop the market, but not only for this reason it will develop because other participants who are potential companies will also have to do their homework, especially in the governance and institutionalization part. ; however, the benefit can be very great for everyone, ”he assured.
In a conference on the occasion of the issuance of the first FIRA green resilience bonds for 2,985 million pesos, the manager emphasized that although the objective of the reform project to the current legislation of the stock market is to grow and develop it, it is sought also make it more inclusive by adding medium-sized companies, through the simplified issuance process, which will be focused on qualified and institutional investors who have a significant amount of resources.
He recognized that the process for companies to finance themselves in the country’s stock markets “maybe it is not agile enough”, especially for those that need “quick” funding for their growth, expansion or for a new business.
José Oriol Bosch recalled that in the regular session of the Senate of the Republic on April 28, the bill to reform the LMV was approved and now it remains to wait in September for the Chamber of Deputies to endorse said initiative and work in secondary regulation.
“This recognition is important because the relevance of the stock market in the country is being seen to promote economic growth, development and social well-being,” emphasized the general director of the BMV.
