25 years
of experience
We have obtained
20+ Awards
Time in Mexico

COMPLIANCE

About the area

At bgbg, regulatory compliance is not treated as a secondary function, but rather as a structural component of the operations of financial institutions, fintech companies, and businesses in highly regulated sectors.

We advise our clients on the design, implementation, and oversight of compliance programs that enable them to operate in a manner that is sustainable with respect to regulatory authorities, mitigate the risk of penalties, and ensure the continuity of their operations.

Our approach combines technical expertise in the applicable regulatory framework with a practical understanding of operations, enabling us to design effective and actionable solutions.

We have experience advising financial institutions, companies engaged in high-risk activities, and fintech firms, integrating regulatory compliance into the design of their business models and supporting them in their dealings with regulatory authorities.

Clients and industries

We advise a wide range of clients in regulated sectors, including commercial companies, credit institutions, non-bank financial institutions, fintech companies, SOFOMES, currency exchange centers, money transfer companies, and businesses engaged in activities deemed vulnerable under applicable regulations.

We also work with technology companies and international clients seeking to implement or adapt their compliance frameworks to the Mexican regulatory environment, particularly in areas related to financial services, payments, and cross-border transactions.

Main Services

Incorporation and Regulation of Entities

Legal counsel on the formation, authorization, and regulation of financial and non-financial institutions, taking into account the applicable regulatory framework and the requirements necessary for their proper operation. This includes assistance in the process of obtaining licenses, authorizations, and registrations with competent authorities such as the National Commission for the Protection and Defense of Financial Services Users (CONDUSEF), the National Banking and Securities Commission (CNBV), the Bank of Mexico (Banxico), and the Ministry of Finance and Public Credit (SHCP).

Regulatory obligations and reporting

Assistance with periodic regulatory compliance obligations, including support for the preparation, review, and filing of reports with the Financial Intelligence Unit (UIF), the National Banking Commission (CNBV), the Tax Administration Service (SAT), and other relevant authorities, with the aim of ensuring timely, accurate, and consistent compliance with applicable regulations. This includes handling inspection visits and requests for information.

Manuals, policies, and compliance systems

Drafting, reviewing, and updating internal manuals, guidelines, and policies related to regulatory compliance, anti-money laundering, and anti-corruption, in accordance with current legislation and national and international standards, including the FATF recommendations.

Audits and Regulatory Reviews

Conducting regulatory and preventive audits to identify risks, contingencies, and areas for improvement, as well as providing support during inspections, verifications, or responses to requests from regulatory authorities. This includes implementing action plans based on findings.

Anti-corruption programs and AML/CFT

Design, implementation, and enhancement of anti-money laundering and counter-terrorist financing (AML/CTF) and anti-corruption programs, focused on identifying and mitigating risks, strengthening internal controls, and ensuring compliance with applicable legal provisions.

Compliance Officer and KYC

Advice on the appointment, duties, and responsibilities of the compliance officer, as well as on the implementation and operation of know-your-customer (KYC) programs, digital onboarding, standard and enhanced due diligence, and transaction monitoring, in accordance with current regulatory requirements.

Compliance in Fintech and Digital Models

Integration of regulatory compliance into the design of fintech models, including payment platforms, digital assets, and digital financial services, taking into account the interaction among multiple participants, complex transaction flows, and associated regulatory risks. Our approach enables the development of models that incorporate compliance from the outset, avoiding subsequent adjustments that could affect their operational viability.

Privacy and Personal Data Protection

Consulting services regarding compliance with personal data protection obligations under the LFPDPPP and its implementing regulations. This includes drafting privacy notices, data processing policies, privacy impact assessments (PIA), handling ARCO rights, managing security incidents, and coordinating with the INAI. Special attention is given to integrating privacy obligations with KYC and AML/CFT programs at financial institutions and fintech companies.

Anti-Corruption and Business Ethics

Design and implementation of corporate anti-corruption and business ethics programs, in accordance with the General Law on the National Anti-Corruption System, the General Law on Administrative Responsibilities, and international standards such as the FCPA and the UK Bribery Act. This includes the development of codes of ethics, gift and conflict-of-interest policies, whistleblower channels, third-party due diligence, and training programs for executives and operational teams.

Vulnerable activities

Advice to companies and individuals engaged in activities deemed vulnerable under the LFPIORPI, including determining the applicable regulatory framework, complying with identification and reporting obligations to the SAT, developing internal policies, and responding to requests and verification visits. This is particularly relevant for sectors such as virtual assets, credit granting, real estate developers, notaries, jewelers, casinos, vehicle dealers, and other non-financial regulated entities.

Training and a culture of compliance

Design and delivery of specialized training programs on regulatory compliance, AML/CFT, anti-corruption, and personal data protection, tailored for boards of directors, compliance officers, and operational and business teams. The approach is practical, up-to-date, and tailored to the nature and risk profile of each organization, with the goal of fostering a sustainable culture of compliance from within.

Cross-border structuring and global compliance

We advise international clients on adapting their compliance policies and programs to the Mexican regulatory framework, including the local implementation of global standards (FATCA, CRS, FCPA, UK Bribery Act) and coordination with international teams.

Testimonials

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Clients are quick to praise the firm, saying enthusiastically: “The service they provide is highly satisfactory. They understand the client’s needs and have a good sense of urgency.”

Chambers and Partners Latin America 2020 client feedback on the Banking & Finance Department
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“The service is of a very high standard; they are very thorough and up-to-date on all matters, and the partners are always available and deliver on time.”

Chambers and Partners Latin America 2020 client feedback on the Compliance Department

Our team has extensive experience in the practical application of regulations in Mexico and works closely with clients to anticipate risks, address regulatory requirements, and strengthen their compliance frameworks. We understand that compliance is not merely a legal obligation, but a key element for the operational and reputational stability of organizations—which is why we offer business-oriented advice with a preventive and strategic approach that enables clients to operate with legal certainty in complex regulatory environments.

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