The Limits of Financial Reform

MEXICO - Report 06 Aug 2014 by Mauricio Gonzalez and Ernesto Cervera

Executive Summary

The congressionally mandated report from the Federal Economic Competition Commission (Cofece) on the state of competition in the financial sector lacked the teeth of the telecommunications regulator’s equivalent report earlier this year, which among its main decisions designated a dominant player in telephony and ordered it to spin off assets. Instead, the Cofece study more gingerly described possible problems while sidestepping the issue of whether any banks might be engaging in anti-competitive behavior or improper conduct of any sort.

In fact, mu...

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