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Mexico: Antitrust regulator welcomes financial sector overhaul

By  |  May 21, 2013

Mexico’s antitrust watchdog has formally supported a financial overhaul proposal, recommending that Congress approve the plan in an “expedited manner.” The proposal springs from the Pact for Mexico, a multiparty political effort, and focuses on enhancing competition within the financial services market, according to the Federal Competition Commission. According to reports, the proposal largely reflects the same proposals offered by the FCC to promote competition amongst banks for the benefit of consumers; 74 percent of Mexico’s credit is controlled by five of the largest banks.

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