– New international accounting standards to be implemented in January 2023 – While a positive step, their application could pose challenges for emerging markets – Countries with more mature financial industries are better prepared for the transition – In some cases, insurance companies rather than regulators are driving the change As insurance companies prepare for the most significant…
This chapter introduces the reader to the different aspects of the legal system in Mexico in partnership with Maillard, Cerbón, Canudas, Argumedo, Palma y Asociados; and Aguirre, Aguirre and Associates. It also contains a viewpoint with César Maillard Canudas, Managing Partner, Maillard, Cerbón, Canudas, Argumedo, Palma y Asociados.…
Viewpoint:César Maillard Canudas In May 2019 regulations were published in the Federal Official Gazette that were the legal implementation of the constitutional reforms related to labour justice. They reflect commitments to global standards such as the International Labour Organisation’s conventions on association and collective bargaining, as well as provisions related to these principles…
Following the economic crises of the 1980s and 1990s, Mexico implemented a series of liberalising structural reforms, enabling it to become one of the world’s most open, trade-orientated emerging economies. However, the slowdown of the US economy, to which Mexico’s fortunes are closely tied, and the rising uncertainty generated by global trade tensions has affected development. Analysts expect
Under the North American Free Trade Agreement (NAFTA) the horticulture sector became Mexico’s fastest-growing industry, with fruit and vegetable exports increasing by 650% between 1995 and 2019. Today, it is a world leader in the export of tomatoes, avocados, berries, grapes, peppers and chillies. Since the treaty came into force in 1994 the sector has invested in innovation and technology to improve…
In 2019 controversy arose over the National Domain Extinction Law, which establishes that a person who owns assets that cannot be tracked or proven to have come from a legitimate origin, or assets that are a product of illicit activities such as organised crime, kidnapping, hydrocarbons and petrochemicals crimes, human trafficking, corruption, vehicle theft and extortion, can be deprived of the rights…
Federal labour law states that it is the employer’s obligation to comply with regulations on health and safety in the workplace, and that the conditions under which risk prevention is guaranteed is laid out in the Federal Occupational Safety and Health Regulation. Additionally, workers’ rights enable employees to develop and grow in a healthy and safe environment. There are 43 official standards…
This chapter introduces the reader to the different aspects of the legal system in Peru, in partnership with RGB Avocats. It also contains an interview with Ricardo Guevara Bringas, Corporate Lawyer and Partner, RGB Avocats.…
Interview:Ricardo Guevara Bringas How widespread is arbitration in the legal system? RICARDO GUEVARA BRINGAS: The World Bank’s “Doing Business 2019” report ranked Peru 70th out of 190 economies in terms of enforcing contracts. Collecting debt takes an average of 426 days, given the excessive time Peruvian courts take to evaluate claims. As such, the use of arbitration to settle business…
Peru is governed by a stable legal framework established by the constitution, which was ratified in 1993 and serves as the backbone of the economic model that has sustained the country’s structural reforms over the years. Peru’s principle laws have remained largely the same since the 1990s, although there have been some new regulations introduced in more recent times, including legislation…
