Ley del Mercado de Valores
The Ley del Mercado de Valores (Securities Market Law) governs the securities market in Mexico, establishing the framework for the issuance, trading, and regulation of securities. The law defines the roles of market participants including issuers, investors, intermediaries, and clearinghouses. It is administered by the National Banking and Securities Commission (CNBV) and regulates the Mexican Stock Exchange (Bolsa Mexicana de Valores). The law provides protections for investors and establishes disclosure requirements for publicly listed companies.
Legal area: Securities law regulates the issuance, trading, and disclosure requirements of financial instruments and capital markets.
Year enacted: 2005
Full text: https://www.diputados.gob.mx/LeyesBiblio/htm/ley_mercado_valores.htm
Key Provisions
- Art. 1-2: Object of the law and securities market regulation
- Art. 3-10: Securities definition and types (valores mobiliarios)
- Art. 11-25: Public offerings (oferta pública de valores)
- Art. 26-35: Disclosure requirements (revelación de información)
- Art. 36-45: Intermediaries and market participants (intermediarios)
- Art. 46-55: Stock exchange and market regulation (bolsa de valores)
- Art. 56-65: Investor protection (protección a los inversionistas)
Significance
The Securities Market Law provides the regulatory foundation for Mexico’s capital markets, which have grown significantly since the law’s enactment. The BMV (Bolsa Mexicana de Valores) is one of the largest exchanges in Latin America. The law’s investor protection provisions and disclosure requirements have been strengthened to align with international standards. Mexico’s securities market has been a key channel for infrastructure and corporate financing.