Mexico’s watchdog suspended the legal timeframe to determine whether competition conditions exist in the card payments system when the processing involves a clearinghouse, reported COFECE.
The foregoing is due to the fact that the Federal Economic Competition Law (LFCE, per its initials in Spanish) establishes that the affirmative vote of at least five Commissioners is required to resolve procedures to determine the existence of barriers to competition and essential facilities. In contrast, currently its governing body only has four of the seven members that per constitutional mandate must integrate it.
In view of the head of the Executive’s omission, COFECE filed, in December 2021, a constitutional controversy in order to enforce the Constitution, since concluding with the selection of Commissioners is an essential condition to exercise all its powers.
Therefore, the Commission urges the head of the Federal Executive and the Senate of the Republic to appoint those who will assume the vacancies of Commissioners, so that COFECE is in a position to resolve this and other relevant cases for the benefit of the efficiency of the markets and, above all, for the welfare of consumers.
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