The Senate of the Republic unanimously approved, with 65 votes in favor, the bill to reform the Securities Market Law and the Investment Funds Law (LMV), which seeks to promote the development and growth of the stock market Mexican.
Alejandro Armenta, president of the Senate, announced that the initiative is endorsed, both “in general and in particular”, for which reason it is sent to the Chamber of “Deputies for the purposes of Article 72 of the Constitution.” This during the plenary session this Friday, April 28.
“In order to create a more competitive stock market and encourage investors to remain in the national market, the reform of the Securities Market Law and the Investment Funds Law was unanimously approved, with 65 votes in favor,” reported the Senate.
Among the main changes proposed in the LMV reform initiative, which the stock market union worked on for more than two years, is implementing a new “simplified securities registration” scheme, which allows small and medium-sized companies to access the stock market. .
A new investment figure called Hedge Funds, (type hedge funds) is also created.
The reform proposal to the Securities Market Law also seeks to simplify the regime applicable to Investment Promotion Companies (SAPI) and Stock Market Companies (SAB).
For the first time, it is proposed, in an initiative to reform the LMV, to include the adoption of best practices in terms of sustainability and gender perspective, added in Article 9 Bis.
After approval in the Senate, the initiative will go to Deputies where it will be reviewed, voted on and, where appropriate, approved, until next September.
Ernesto Pérez Astorga, president of the Senate Finance and Public Credit Commission, said that the Upper House approved reforming the Securities Market Law and the Investment Funds Law, “with the purpose of having a more competitive stock market that encourages small and medium-sized enterprises (SMEs) to enter the national market”.
