EU: The Regulation allowing securitization bonds to be designated as European Green Bonds has been published
European Regulation 2023/2631, which will become applicable on December 21, 2024, envisages this option for securitization bonds, except in the case of bonds issued for synthetic securitization purposes.
The Government of Mexico calls to bid for the procurement of drilling services for geothermal wells in Baja California, Michoacán and Jalisco
The deadline to submit offers for the five wells located on the two parcels is October 16.
Spain: Publication of the long-awaited royal decree on foreign investment implementing Law 19/2003
The new regulations in Spain, which enter into force on September 1, provide greater clarity and legal certainty to the rules governing foreign investments.
Spain: Approval of the reform on structural modifications to commercial companies
The reform in Spain, which repeals Law 3/2009 and makes numerous new additions to the provisions on structural modifications, will come into force on July 29, 2023.
ESG ratings: sustainability ratings move forward in tandem with credit ratings
Two analysts, one from a credit agency and another from a sustainability rating agency, analyze, together with Garrigues, the keys to assessing ESG factors at companies
Spain: Companies will now be able to carry out certain procedures with notaries and at registries without the signatory having to be physically present
Law 11/2023, published in the Official State Gazette on May 9, 2023, has adapted Spanish company law to the European directive on the use of digital tools and processes.
Mexico: Legal reform to government procurement policies, oversight of public expenditure, and public tenders for the sale of national goods
On April 28 th 2023, the Mexican Senate approved a legislative reform granting the Ministry of Public Function (SFP) powers and authority to concentrate the planning, conduction and surveilling of the procurement of goods, services and public works of all of the federal government entities and agencies, except for Pemex, CFE, the Army and the Navy. Likewise, it was approved an amendment to the National Assets General Law in order to add new rules applicable to public tenders for the sale of federal real estate.
Company redomiciliation and alternatives for changing the jurisdiction of companies in Colombia, Chile, Mexico and Peru
During the development and operation of multinational enterprises, in some cases and for a number of reasons (strategic, market, risk, among others), they are faced with the need to explore alternatives for changing or transferring their registered office to a different jurisdiction. This process, commonly known as “cross-border redomiciliation”, consists precisely of the act whereby a company decides to transfer its domicile abroad without first undergoing a liquidation process or a business reorganization such as an international spin-off or merger.
The key elements of the new Spanish Securities Markets Law
The new Law approved systematizes and reorganizes the Spanish securities market regulation, adapts it to the recent provisions in several European directives, particularly in the area of crypto-assets and distributed ledger technologies, and simplifies and makes certain procedures more flexible in order to increase the competitiveness of the Spanish securities market. It also introduces new provisions in the field of tender offers, investment services firms and collective investment vehicles, and regulates for the first time the SPACs.
Chile: Implementation of the Energy Efficiency Law moves forward
With the issuance of Resolution 13 of 2023, the implementation of the Energy Efficiency Law of 2021 (Law 21305) is moving forward. This new resolution lists the companies that must actively manage their energy consumption and how it should be implemented.