Mexico : The IOSCO Objectives and Principles of Securities

As the supervisor of the securities markets in Mexico, the National Banking and Securities Commission (Comision Nacional Bancaria y de Valores, CNBV) has developed a robust supervisory framework that exhibits high levels of implementation of the In...

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Bibliographic Details
Main Authors:	International Monetary Fund, World Bank
Format:	Financial Sector Assessment Program (FSAP)
Language:	English en_US
Published:	World Bank, Washington, DC 2014
Subjects:	ACCESS TO INFORMATION ACCOUNTING ACCOUNTING FRAMEWORK ACCOUNTING STANDARDS ALTERNATIVE TRADING SYSTEMS ASSET MANAGEMENT ASSET VALUE ASSETS UNDER MANAGEMENT AUDITORS AUDITS BANKING LAW BANKRUPTCY BANKRUPTCY LAWS BANKRUPTCY LEGISLATION BID BROKER BROKERAGE BROKERAGE FIRM BROKERAGE FIRMS BROKERAGE HOUSE BROKERAGE HOUSES BROKERS CAPITAL MARKET CAPITAL MARKET ACTIVITIES CAPITAL MARKETS CAPITAL REQUIREMENTS CENTRAL BANK CENTRAL CLEARINGHOUSES CENTRAL DEPOSITORIES CENTRAL DEPOSITORY CENTRAL SECURITIES DEPOSITORY CLIENT ASSETS CLIENT BASE COLLECTIVE INVESTMENT COLLECTIVE INVESTMENT SCHEME COLLECTIVE INVESTMENT SCHEMES COMMERCIAL BANKS COMMODITY COMMON LAW CONFIDENTIALITY CONFLICT OF INTEREST CONFLICTS OF INTEREST CONSUMER PROTECTION CREDIT INSTITUTIONS CREDIT RATING CREDIT RATING AGENCIES CREDIT RATING AGENCY CREDIT UNIONS DEALER DEBT DEBT INSTRUMENTS DEFAULT RISK DEPOSIT DEPOSIT-TAKING INSTITUTIONS DERIVATIVE DERIVATIVES DERIVATIVES EXCHANGE DERIVATIVES EXCHANGES DERIVATIVES MARKET DERIVATIVES MARKETS DISCLOSURE DOCUMENT DISCLOSURE DOCUMENTS DISCLOSURE OF INFORMATION DOMESTIC FINANCIAL MARKETS DOMESTIC MARKET EFFICIENT MARKET ENFORCEMENT POWERS ENFORCEMENT PROCESS EQUITIES EQUITY FUNDS EQUITY INDEX EQUITY INSTRUMENTS EQUITY SECURITIES EXCHANGE COMMISSION EXPENDITURES EXPOSURES FEDERAL RESERVE FINANCIAL ASSETS FINANCIAL CONGLOMERATE FINANCIAL CONGLOMERATES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SERVICES INDUSTRY FINANCIAL STABILITY FINANCIAL STATEMENTS FINANCIAL SYSTEM FIXED INCOME FIXED INCOME SECURITIES FLOWS FOREIGN EQUITIES FOREIGN STOCK FULL DISCLOSURE FUND MANAGERS FUTURES GROSS DOMESTIC PRODUCT ILLIQUID SECURITIES INCOME INSTRUMENTS INDIVIDUAL SECURITIES INFORMATION SHARING INFORMATION SYSTEM INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INSURANCE PRODUCTS INTEREST RATE INTEREST RATES INTERNAL AUDIT INTERNAL CONTROL INTERNAL CONTROLS INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL STANDARDS INVESTING INVESTMENT ADVISORS INVESTMENT COMPANIES JUDICIAL PROCESS JURISDICTION JURISDICTIONS LEGAL SYSTEM LIQUIDITY MACROECONOMIC ENVIRONMENT MARKET ACCESS MARKET CAPITALIZATION MARKET DEVELOPMENT MARKET DEVELOPMENTS MARKET DISCIPLINE MARKET INFRASTRUCTURE MARKET INTERMEDIARIES MARKET INTERMEDIARY MARKET PARTICIPANT MARKET PARTICIPANTS MARKET SIZE MARKET STRUCTURE MARKET SURVEILLANCE MARKET VALUES MEMBER BROKERS MINIMUM CAPITAL REQUIREMENTS MONETARY FUND MONEY LAUNDERING MUTUAL FUND NATIONAL SECURITIES NAV NET ASSET NET ASSET VALUE OPERATIONAL INDEPENDENCE OPERATIONAL RISK PENSION PENSION FUND PENSION FUND MANAGERS PENSION FUNDS PORTFOLIO PORTFOLIOS PRIVATE SECTOR DEVELOPMENT PROPRIETARY TRADING PROSPECTUS PUBLIC COMPANIES PUBLIC COMPANY PUBLIC DISCLOSURE QUOTATION SYSTEM REGULATOR REGULATORS REGULATORY AUTHORITIES REGULATORY AUTHORITY REGULATORY CAPITAL REGULATORY ENVIRONMENT REGULATORY OVERSIGHT REGULATORY REGIME REGULATORY SYSTEM RISK MANAGEMENT SECONDARY MARKETS SECURITIES SECURITIES ACTIVITIES SECURITIES BROKERS SECURITIES COMMISSION SECURITIES COMMISSIONS SECURITIES DEPOSITORIES SECURITIES EXCHANGES SECURITIES FIRMS SECURITIES ISSUES SECURITIES MARKET SECURITIES MARKET LAW SECURITIES MARKETS SECURITIES REGULATION SECURITIES TRANSACTIONS SELF-REGULATION SETTLEMENT SHAREHOLDER STOCK EXCHANGE STOCK MARKETS STOCKS SUPERVISION OF BANKS SUPERVISORY AUTHORITY SURETIES SYSTEMIC RISK TRADE ASSOCIATIONS TRADES TRADING TRADING SYSTEMS TRADING VALUE TRADING VALUES TRADING VOLUME TRADING VOLUMES TRANSPARENCY TREATIES TURNOVER VALUATION VENTURE CAPITAL WARRANTS
Online Access:	http://documents.worldbank.org/curated/en/2013/03/18606001/mexico-financial-sector-assessment-program http://hdl.handle.net/10986/16743

Description
Summary:	As the supervisor of the securities markets in Mexico, the National Banking and Securities Commission (Comision Nacional Bancaria y de Valores, CNBV) has developed a robust supervisory framework that exhibits high levels of implementation of the International Organization of Securities Commissions Objectives and Principles of Securities Regulation (IOSCO Principles) in many areas. The assessment was conducted during the International Monetary Fund (IMF) and World Bank Financial Sector Assessment Program (FSAP) mission to Mexico during the period September 7 to September 21, 2011. The assessment was carried out using the 2003 IOSCO methodology for assessing implementation of the IOSCO Principles. The most significant issues regarding full implementation of the Principles fall under the regulator principles. These issues flow from two sources. First, there is no specific statute governing derivatives (whether exchange traded or over-the-counter (OTC)), nor any other express legislative provisions that govern the regulation of that growing market. Second, there are significant weaknesses in the protections afforded members of the Board of Governors and staff and with the resources of the commission that lead to concerns about its independence and ability to carry out its mandate fully. This report gives summary of discussions on CNBV acceptance to allow the informal assessment of the status of implementation of the newly added Principles, using the guidance provided in the draft revised assessment methodology as issued in May 2011.

Mexico : The IOSCO Objectives and Principles of Securities

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