Regulatory Alerts2018-06-13 | DOF 5526287Added
Resolution modifying the general provisions applicable to securities issuers and other participants in the securities market
The CNBV amends Articles 15 Bis, 25, and 27 of the General Provisions applicable to securities issuers to exempt certain foreign issuers from mandatory public acquisition offers during voluntary share cancellations, provided they obtain listing on international stock exchange systems. The resolution mandates the establishment of trust funds in specific merger and cancellation scenarios to protect investor interests and requires issuers to report their adherence to corporate governance codes via SEDI. Stock exchanges are obligated to notify the Commission of foreign issuers seeking cancellation prior to the start of their international listing, after which they must remove those securities from authorized trading lists. These changes take effect the day following publication in the Official Gazette.
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