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Governance, Risk, and Compliance Handbook: Technology, Finance, Environmental, and International Guidance and Best Practices by Anthony Tarantino

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CHAPTER 60

COMPLIANCE IN MEXICO : TRENDS, BEST PRACTICES, AND CHALLENGES

Pedro Fabiano

60.1 INTRODUCTION

60.2 POLITICAL AND ECONOMIC ENVIRONMENT

(a) Political Conditions

(b) Economic Environment

60.3 INTERNATIONAL INITIATIVES AGAINST CORRUPTION

(a) Compliance with the OECD Convention

(b) OECD Evaluation of Mexico

60.4 APPLICABLE U.S. LAWS AND REGULATIONS

(a) Foreign Corrupt Practices Act of 1977 and Sarbanes-Oxley Act of 2002

(b) Federal Sentencing Guidelines (FSG)

60.5 MEXICAN BEST PRACTICES AND LAWS

(a) Code of Best Practices

(b) Compliance with Mexican Code of Best Practices

(c) New Mexican Securities Market Law

(d) Major Challenges in Anticorruption and Governance

60.6 ANTI-MONEY LAUNDERING COMPLIANCE

(a) International Organizations

(b) Money Laundering in the Mexican Financial System

(c) Anti-Money Laundering Laws and Regulations

(d) FATF Evaluation of Mexico

(e) Cooperation with U.S. Authorities

60.7 CONCLUDING REMARKS

NOTES

60.1 INTRODUCTION

This chapter summarizes current trends, challenges, and opportunities for the implementation of compliance best practices in Mexico. For this purpose, it includes a brief description of the political and economic environment of the country and the local, international, and U.S. standards adopted by Mexico with respect to anticorruption, corporate governance, and anti-money laundering (AML). Compliance statistics from authoritative sources and the resulting challenges and opportunities are also included in the chapter.

60.2 POLITICAL ...

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