Challenges Confronted by Banco Azteca in Mexican Banking System: SCJN Ruling and Banxico Laws

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Jorge Mario Pardo Rebolledo, Minister the nation’s highest court docket (SCJN), will suggest to the First Chamber in opposition to numerous provisions issued by the Structure of India to deprive Banco Azteca of the safety and safety of justice. financial institution of mexico (Banxico) to manage the interbank fee system.

After estimating that Banxico had violated Article 28 of the Structure by its actions, the banking establishment owned by businessman Ricardo Salinas Pliego sought safety earlier than the Twelfth District Court docket. Administrative Affairs in Mexico Metropolis Relating to the amendments to Round 3/2012, Article 17 bis, first and third provisional, and Annex 28 of Round 12/2019, addressed to credit score establishments, in addition to multi-purpose monetary firms, has been utilized Digital switch for digital assortment (CODI).

Within the first occasion, the stated court docket dismissed the go well with and refused to grant safety Azteca Financial institutionWhich filed an attraction for evaluate in response to the choice, which was referred to the Supreme Court docket by the Collegiate Court docket of Data, given the existence of a problem of constitutionality.

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In his venture, Pardo Rebolledo declares the arguments baseless Azteca Financial institution and it determines that the Financial institution of Mexico, being a Autonomous organshas the constitutional energy to concern common administrative provisions for the discharge of its regulatory perform, significantly within the areas falling beneath its jurisdiction, i.e., exchanges, intermediation and monetary providers.

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“Likewise, it has the ability to concern provisions Their goal is the right functioning of the fee system, or the safety of the general public’s pursuits,” says Pardo Rebolledo within the venture.

This means that as a way to promote its targets financial institution of mexico To be able to promote the right functioning of fee methods in addition to to foster the wholesome improvement of the monetary system and to guard the pursuits of the general public, it was thought of acceptable to amend Round 3/2012 (Instrument of CODI Switch) by way of the stated Laws.

The minister stated that the platform CoDiIn accordance with the provisions of the Financial institution of Mexico, the Financial institution permits prospects Taking part Companies Within the stated system, digital funds are made by way of a scheme wherein a fee is requested by the cash recipient from a cellular machine or the Web, and the sender of the fee authorizes it from his or her machine.

“What you might be in search of is that platform CoDi Present a protected and environment friendly technique of fee to small companies, digital companies, service suppliers and most of the people to make funds with the benefit of safety and effectivity. Transfers Digital.So, the amendments made are aimed toward enabling credit score establishments to hold out operations,” he explains.

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