Mexico May Ease Rules to Foster Competition, Attract Foreign Fund Managers

(Bloomberg) -- Mexican market regulators may ease rules
in the asset management industry, opening the way for more foreign
fund managers and reducing the dominance of local banks to increase
investment in the country's securities.

The National Banking and Securities Commission may create a
new category of licensed financial company to spur competition in
the market for underwriting securities, said Mauricio Basila, a
vice president in charge of market supervision. The commission is
also reviewing ways to bring more fund management companies to the
country.


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