THE LATEST REFORM TO THE GENERAL LAW OF CREDIT SECURITIES AND OPERATIONS: A STEP TOWARDS DIGITALIZATION

On March 26, 2024, a decree was published in the Official Gazette of the Federation that reforms, adds, and repeals various provisions of the General Law of Titles and Credit Operations (LGTOC) and the General Law of Organizations and Auxiliary Credit Activities (LGOAAC). This reform represents a significant advance to encourage and provide greater legal security to the celebration of credit operations and negotiability of credit titles through electronic means and other technologies.

ASAMBLEAS DE ACCIONISTAS REMOTAS

La celebración de asambleas de accionistas es un requisito fundamental para la operación en general y la toma de decisiones dentro de todas las empresas mexicanas. Sin embargo, con la pandemia y la evolución y fortalecimiento de las tecnologías de comunicación que vino con ella, las reuniones y, por lo mismo, las asambleas de accionistas, celebradas a distancia y por medios electrónicos. Por ello, recientemente se discutió en el Congreso de la Unión la posibilidad de que las sociedades mexicanas celebren asambleas a través de estos medios electrónicos.

REMOTE SHAREHOLDERS’ MEETINGS

The holding of shareholders’ meetings is a fundamental requirement for the general operation and decision making within all Mexican companies. However, with the pandemic and the evolution and strengthening of communication technologies that came with it, the meetings and, therefore, the shareholders’ meetings, held remotely and by electronic means. For this reason, the Congress of the Union recently discussed the possibility of Mexican companies holding meetings through these electronic means.