The Plenary Session of the Chamber of Deputies approved modifications to the Securities Market Law and the Investment Funds Law to include the figure of “simplified registration of securities” that allows small and medium enterprises (SMEs) participate in the stock market.
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With 452 votes in favor, the legislators approved the modifications so that SMEs can easily participate in the stock market through the public offering of debt or equity securitiesin order to obtain the necessary financing to boost its growth.
According to Deputy Luis Armando Melgar Bravo, president of the Finance Commission of the Chamber of Deputies, the modifications guarantee “the establishment of a more competitive stock market system in our country, a stock market system that encourages investors to stay in the national market and that incorporates small and medium-sized companies into the world of stock financing, with a view to increasing the productivity of our country.”
Melgar Bravo explained that the Investment Funds Law adds the figure of hedge fundswhich he assured “will enhance returns to investors and improve risk management of assets that are the subject of said investment.”
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With the modifications, the National Banking and Securities Commission (CNBV) will have to issue regulations for the operation of the simplified securities registration and the requirements that interested SMEs must meet; the CNBV and the Bank of Mexico They will have one year from the entry into force of the reforms to issue the general provisions for the implementation of these modifications.
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The modifications were sent to the Executive for publication in the Official Gazette of the Federation (DOF).