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Mexico : The IOSCO Objectives and Principles of Securities

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dc.contributor.author International Monetary Fund
dc.contributor.author World Bank
dc.date.accessioned 2014-01-30T19:41:25Z
dc.date.available 2014-01-30T19:41:25Z
dc.date.issued 2013-03
dc.identifier.uri http://hdl.handle.net/10986/16743
dc.description.abstract 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. en
dc.language English
dc.language.iso en_US
dc.publisher World Bank, Washington, DC
dc.rights CC BY 3.0 IGO
dc.rights.uri http://creativecommons.org/licenses/by/3.0/igo/
dc.subject LIQUIDITY
dc.subject DERIVATIVE
dc.subject MARKET DISCIPLINE
dc.subject EFFICIENT MARKET
dc.subject SHAREHOLDER
dc.subject SECURITIES DEPOSITORIES
dc.subject TRADING VALUES
dc.subject EQUITY FUNDS
dc.subject INCOME INSTRUMENTS
dc.subject ASSET VALUE
dc.subject MARKET DEVELOPMENTS
dc.subject MARKET VALUES
dc.subject MINIMUM CAPITAL REQUIREMENTS
dc.subject CENTRAL BANK
dc.subject INTERNAL CONTROLS
dc.subject CONFLICT OF INTEREST
dc.subject SECURITIES ACTIVITIES
dc.subject FINANCIAL SERVICES INDUSTRY
dc.subject INTERNAL AUDIT
dc.subject COLLECTIVE INVESTMENT SCHEMES
dc.subject DEBT
dc.subject BROKERAGE FIRM
dc.subject GROSS DOMESTIC PRODUCT
dc.subject PUBLIC DISCLOSURE
dc.subject DISCLOSURE DOCUMENT
dc.subject INSURANCE PRODUCTS
dc.subject ACCOUNTING STANDARDS
dc.subject VALUATION
dc.subject AUDITS
dc.subject FINANCIAL CONGLOMERATES
dc.subject TRADING VOLUME
dc.subject CAPITAL REQUIREMENTS
dc.subject ENFORCEMENT POWERS
dc.subject DEPOSIT-TAKING INSTITUTIONS
dc.subject PENSION FUND
dc.subject ALTERNATIVE TRADING SYSTEMS
dc.subject MARKET PARTICIPANT
dc.subject FLOWS
dc.subject REGULATORY ENVIRONMENT
dc.subject TRADING VOLUMES
dc.subject SECONDARY MARKETS
dc.subject COLLECTIVE INVESTMENT SCHEME
dc.subject FINANCIAL SECTOR
dc.subject ILLIQUID SECURITIES
dc.subject REGULATORY AUTHORITIES
dc.subject CAPITAL MARKETS
dc.subject TRADING VALUE
dc.subject COMMODITY
dc.subject PENSION
dc.subject EXPOSURES
dc.subject DEPOSIT
dc.subject BANKING LAW
dc.subject FINANCIAL STATEMENTS
dc.subject EXCHANGE COMMISSION
dc.subject PORTFOLIO
dc.subject BANKRUPTCY LAWS
dc.subject SUPERVISION OF BANKS
dc.subject OPERATIONAL INDEPENDENCE
dc.subject MARKET INTERMEDIARIES
dc.subject WARRANTS
dc.subject BID
dc.subject CLIENT ASSETS
dc.subject MARKET PARTICIPANTS
dc.subject REGULATORY OVERSIGHT
dc.subject BROKERAGE HOUSE
dc.subject ASSET MANAGEMENT
dc.subject BANKRUPTCY
dc.subject TRANSPARENCY
dc.subject DEBT INSTRUMENTS
dc.subject NET ASSET
dc.subject DERIVATIVES EXCHANGES
dc.subject INFORMATION SHARING
dc.subject REGULATORS
dc.subject TURNOVER
dc.subject INTEREST RATES
dc.subject PRIVATE SECTOR DEVELOPMENT
dc.subject CONSUMER PROTECTION
dc.subject FOREIGN EQUITIES
dc.subject REGULATOR
dc.subject SECURITIES BROKERS
dc.subject ACCOUNTING
dc.subject DISCLOSURE OF INFORMATION
dc.subject LEGAL SYSTEM
dc.subject PUBLIC COMPANY
dc.subject FINANCIAL STABILITY
dc.subject FINANCIAL CRISIS
dc.subject INSURANCE
dc.subject TRADING
dc.subject BROKERAGE HOUSES
dc.subject REGULATORY CAPITAL
dc.subject INTERNAL CONTROL
dc.subject CENTRAL CLEARINGHOUSES
dc.subject EQUITY INSTRUMENTS
dc.subject FINANCIAL ASSETS
dc.subject PUBLIC COMPANIES
dc.subject JURISDICTIONS
dc.subject JUDICIAL PROCESS
dc.subject MARKET INTERMEDIARY
dc.subject PENSION FUND MANAGERS
dc.subject EXPENDITURES
dc.subject BROKERAGE
dc.subject PROSPECTUS
dc.subject DERIVATIVES MARKET
dc.subject FOREIGN STOCK
dc.subject SELF-REGULATION
dc.subject SECURITIES
dc.subject MONEY LAUNDERING
dc.subject ACCOUNTING FRAMEWORK
dc.subject MARKET DEVELOPMENT
dc.subject EQUITIES
dc.subject DERIVATIVES EXCHANGE
dc.subject AUDITORS
dc.subject QUOTATION SYSTEM
dc.subject INDIVIDUAL SECURITIES
dc.subject INVESTMENT ADVISORS
dc.subject REGULATORY SYSTEM
dc.subject MARKET CAPITALIZATION
dc.subject MUTUAL FUND
dc.subject CREDIT INSTITUTIONS
dc.subject DOMESTIC MARKET
dc.subject CAPITAL MARKET ACTIVITIES
dc.subject REGULATORY AUTHORITY
dc.subject SECURITIES EXCHANGES
dc.subject SECURITIES TRANSACTIONS
dc.subject TRADING SYSTEMS
dc.subject EQUITY SECURITIES
dc.subject SECURITIES REGULATION
dc.subject BROKER
dc.subject MEMBER BROKERS
dc.subject BANKRUPTCY LEGISLATION
dc.subject SECURITIES MARKETS
dc.subject MARKET ACCESS
dc.subject MARKET SIZE
dc.subject DEALER
dc.subject COLLECTIVE INVESTMENT
dc.subject FUND MANAGERS
dc.subject ACCESS TO INFORMATION
dc.subject PENSION FUNDS
dc.subject SUPERVISORY AUTHORITY
dc.subject DERIVATIVES MARKETS
dc.subject BROKERAGE FIRMS
dc.subject FULL DISCLOSURE
dc.subject SECURITIES MARKET
dc.subject INSURANCE COMPANIES
dc.subject INVESTING
dc.subject SETTLEMENT
dc.subject DEFAULT RISK
dc.subject REGULATORY REGIME
dc.subject RISK MANAGEMENT
dc.subject STOCK MARKETS
dc.subject CAPITAL MARKET
dc.subject JURISDICTION
dc.subject PORTFOLIOS
dc.subject TRADES
dc.subject INFORMATION SYSTEM
dc.subject PROPRIETARY TRADING
dc.subject SYSTEMIC RISK
dc.subject CENTRAL DEPOSITORY
dc.subject FINANCIAL MARKETS
dc.subject TRADE ASSOCIATIONS
dc.subject CONFLICTS OF INTEREST
dc.subject BROKERS
dc.subject NATIONAL SECURITIES
dc.subject CREDIT UNIONS
dc.subject STOCK EXCHANGE
dc.subject COMMON LAW
dc.subject MARKET STRUCTURE
dc.subject COMMERCIAL BANKS
dc.subject ENFORCEMENT PROCESS
dc.subject DISCLOSURE DOCUMENTS
dc.subject SECURITIES COMMISSION
dc.subject INTERNATIONAL STANDARDS
dc.subject CONFIDENTIALITY
dc.subject VENTURE CAPITAL
dc.subject FIXED INCOME SECURITIES
dc.subject ASSETS UNDER MANAGEMENT
dc.subject CREDIT RATING
dc.subject FIXED INCOME
dc.subject MACROECONOMIC ENVIRONMENT
dc.subject SECURITIES COMMISSIONS
dc.subject FEDERAL RESERVE
dc.subject CREDIT RATING AGENCIES
dc.subject INTERNATIONAL ACCOUNTING STANDARDS
dc.subject MONETARY FUND
dc.subject FINANCIAL INSTITUTIONS
dc.subject DOMESTIC FINANCIAL MARKETS
dc.subject SECURITIES MARKET LAW
dc.subject FINANCIAL SYSTEM
dc.subject NAV
dc.subject INSTITUTIONAL INVESTORS
dc.subject MARKET SURVEILLANCE
dc.subject FINANCIAL CONGLOMERATE
dc.subject FINANCIAL SERVICES
dc.subject NET ASSET VALUE
dc.subject INTEREST RATE
dc.subject CLIENT BASE
dc.subject DERIVATIVES
dc.subject INVESTMENT COMPANIES
dc.subject OPERATIONAL RISK
dc.subject SURETIES
dc.subject EQUITY INDEX
dc.subject FUTURES
dc.subject TREATIES
dc.subject MARKET INFRASTRUCTURE
dc.subject SECURITIES ISSUES
dc.subject CREDIT RATING AGENCY
dc.subject SECURITIES FIRMS
dc.subject CENTRAL SECURITIES DEPOSITORY
dc.subject STOCKS
dc.subject CENTRAL DEPOSITORIES
dc.title Mexico : The IOSCO Objectives and Principles of Securities en
dc.rights.holder World Bank


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