The National Banking and Securities Commission has published for comment a draft of new regulations relating to the International Trading System of the Mexican Stock Exchange. The new regulations will automatically recognise for listing in Mexico securities registered or authorised in any of the securities markets of countries that are members of the EU, or countries that are members of the Technical Committee of IOSCO, as well as certain securities issued in foreign markets by Mexican issuers and securities issued by financial multilateral organisations of which Mexico is a member (IMF, WB, IDB and so on). Under the proposed regulations:

• A Mexican bank or broker-dealer must act as sponsor of a security for the purposes of listing on the International Trading System.
   
• Before listing, the Mexican Stock Exchange must check that the issuers apply adequate accounting standards, such as the Mexican GAAP, US GAAP, International Accounting Standards, or local standards used in the country of the issuer or in the country where its securities are principally traded. In this case, a note describing the differences between these standards and Mexican GAAP, US GAAP or International Accounting Standards is required.
   
• The sponsor must also disclose any information relating to the issuer which is publicly available in the country of the issuer or in the country where the issuer's securities are principally traded (sponsors can comply with this requirement by notifying the site or web page where this information can be obtained).
   

About the Authors
Alexis Rovzar is Executive Partner for the Latin American Practice of White & Case. He can be reached at .

Juan Antonio Martín is an associate in the Mexico City office of White & Case. He can be reached at .