Reform to the Securities Market Law would be approved shortly: Biva

The proposed reform to the Law of the marketc of values (LMV), which is being lobbied for, could be approved next week, in the current regular session that ends in April.

“We are aware that, at least, it will be in this first semester,” he confided. Maria Arizageneral director of the Institutional Stock Market (Biva).

In an interview, he said that the reform of the Securities Market Law is “a very good proposal” that will help the stock market grow, so he is confident that it can be approved shortly.

For his part, Jose Oriol BoschCEO of the Mexican stock exchange (BMV), commented in a conference with analysts last Wednesday that the changes presented to the Congress of the Union could be approved before the end of April.

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María Ariza added that if the reform to the LMV comes to fruition, it will benefit medium-sized companies that seek financing to support their growth, since, among other points, it is proposed to reduce the time for a company to list its shares in any of the the two stock exchanges that operate in Mexico.

If the law that is being lobbyed for reaches the right path, we can see projects that are within the funds and medium-sized companies (reaching the Stock Market) more quickly, he pointed out.

The purpose of the LMV reform project is to help the stock market grow, facilitating financing for medium-sized companies and new investors to generate the necessary supply and demand to increase liquidity.

Some proposals are the simplified list of shares and debt focused mainly on medium-sized companies; the entry of hedge funds or specialized hedge funds, as well as the issuance of different series of shares so that the owners of the companies can continue to maintain control.