Decree Amending Article 199 of the Securities Market Law

DOF: 09/01/2019

DECRETE amending Article 199 of the Securities Market Law

A seal with the National Coat of Arms appears at the margin, which reads: United Mexican States.- Presidency of the Republic.

ANDRÉS MANUEL LÓPEZ OBRADOR, President of the United Mexican States, to its inhabitants:

Know:

That the Honorable Congress of the Union has seen fit to address to me the following

DECRETE

" THE GENERAL CONGRESS OF THE UNITED MEXICAN STATES, DECREES:

AMENDMENT OF ARTICLE 199 OF THE SECURITIES MARKET LAW

Sole Article. The first paragraph and a third paragraph are amended and added to Article 199 of the Securities Market Law, to read as follows:

Article 199.- The transactions that brokerage houses carry out with their investor clientele and on their behalf, shall be governed by the provisions contained in the brokerage intermediation contracts, which for this purpose may be executed in writing, by handwritten signature, or by means of advanced electronic signature of their clients, granted in accordance with the certification mechanism provided for by the Federal Tax Code before the Tax Administration Service and in accordance with what is established in the Commercial Code, unless, as a consequence of what is provided in this or other laws, a different form of contracting is established.

Through the brokerage intermediation contract, the client will confer a mandate so that, on their behalf, the brokerage house carries out the operations authorized by this Law, in the name of the brokerage house itself, unless, due to the nature of the operation itself, it must be agreed upon in the name and representation of the client, without in either case it being necessary for the corresponding power of attorney to be granted in a public deed.

Clients who sign brokerage intermediation contracts executed by means of advanced electronic signature will produce the same rights and obligations as those executed by handwritten signature and subject to the applicable administrative regulations.

Transitory Provisions

First. This Decree shall enter into force as of January 1, 2019.

Second. For the purposes of what is provided by the Federal Tax Code, the Tax Administration Service shall have one hundred and eighty days from the entry into force of this Decree to issue general provisions.

Third. The Tax Administration Service, the National Banking and Securities Commission and Financial Entities shall make the corresponding adjustments to their internal regulations during the following one hundred and eighty days, counted from the issuance of this Decree.

Fourth. Provisions that oppose what is provided by this Decree are repealed.

Mexico City, November 28, 2018.- Sen. Martí Batres Guadarrama, President.-

Dip.
Porfirio Muñoz Ledo, President.- Sen. Antares G. Vázquez Alatorre, Secretary.- Dip. Karla Yuritzi Almazán Burgos, Secretary.- Signatures. "

In compliance with what is provided in fraction I of Article 89 of the Political Constitution of the United Mexican States, and for its proper publication and observance, I issue this Decree at the Residence of the Federal Executive Power, in Mexico City, on the fourth day of the month of December of two thousand eighteen.- Andrés Manuel López Obrador.- Signature.- The Secretary of the Interior, Dr. Olga María del Carmen Sánchez Cordero Dávila.- Signature.

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