Discretionary Powers and Fraud on the Law in Mexican Financial Supervision

Published by Legal 500 Country Comparative Guides

This article examines the constitutional limits of discretionary powers exercised by Mexico’s National Banking and Securities Commission (CNBV) in the supervision of Popular Financial Societies (SOFIPOs). Using the Ficrea and CAME cases as a point of reference, Edward M. Regalado analyzes the relationship between administrative discretion, judicial review, and the doctrine of fraud on the law, questioning how financial supervision should balance regulatory authority with the protection of the investing public.

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