A PYMNTS Company

Mexico: Supreme Court upholds Banxico/COFECE challenges to pay cuts

By  |  January 14, 2019

The Minister of the Supreme Court of Justice of the Nation (SCJN) of Mexico, Alberto Pérez Sayán, granted the Bank of Mexico and the Federal Commission of Economic Competition (COFECE) a suspension of the new Federal Remuneration Law. As a result, the salaries of Banco de México employees will be exempt from the maximum limit imposed by the changes to said law.

While COFECE did not request the suspension of the law, the Minister also accepted the controversy presented by said body. The Minister also agreed to hold hearings in both houses of the Mexican Congress to respond to the challenges.

Full Content: El Financiero

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.