On December 8, the National Copyright Institute published in the Official Gazette, the Agreement that aims to establish the rules for the substantiation and resolution of applications for registration of works and videograms online. The information regarding the requirements for filing such applications may be consulted through the INDARELIN system, which is not yet operational. The regulation will enter into force on December 23, 2021. For its part, the Mexican Banking Association (ABM in Spanish) assured that they will request regulatory changes to level the playing field for competition with fintech companies. Finally, the Pacific Alliance (PA) presented a study highlighting the country’s leadership in the startup sector.
Applications for the registration of works, phonograms, videograms and book publishing that are submitted through the system must be accompanied by a series of documents, among which are the payment through INDARELIN, the material supports of the works, the document proving the legal existence of the legal entity and the translation into Spanish of the documents submitted in another language, among others. For the assignment of a username and password in INDARELIN, users must provide a series of data such as the Federal Taxpayers Registry.
The ABM announced that it is working on a document that it is planning to present to the country’s regulatory authorities to request changes in the regulation of financial technology companies in order to “level the playing field”. They will mainly request to make transparent the costs of these companies, especially the Total Annual Cost (CAT in Spanish) of each one of them. Finally, the Pacific Alliance, together with the Inter-American Development Bank, presented a document highlighting that Mexico leads the bloc in fintech development, with a total of 512 startups.