Comisión Federal de Competencia Económica
This article needs additional citations for verification. (August 2019) |
The Federal Economic Competition Commission (Spanish: Comisión Federal de Competencia Económica, COFECE) is a Mexican government agency responsible for regulating anti-competitive behavior. The commission is a five-member body and is a constituent agency of the Secretariat of Economy.
| Comisión Federal de Competencia Económica (Cofece) | |
 | |
| Commission overview | |
|---|---|
| Jurisdiction | Federal government of Mexico |
| Headquarters | Av. Revolución 725,
Col. Santa María Nonoalco, Alcaldía Benito Juárez, Ciudad de México, C. P. 03700, |
| Commission executive |
|
| Website | Comisión Federal de Competencia Económica (Cofece) (in English) |
History
editThe commission was established in 1993.[1][2] The agency was known as the Federal Competition Commission (Spanish: Comisión Federal de Competencia, CFC) prior to 2013. Under Article 28 of the Mexican Constitution, it is responsible for:
"...overseeing, promoting and guaranteeing competition and market access in Mexico for the efficient functioning of markets to the benefit of consumers and implementation of the Federal Economic Competition Law (LFCE)".[3]
The mission of COFECE is to "protect the process of competition and free access to markets, through the prevention and elimination of monopolistic practices and other restrictions to market efficiency, in order to contribute to societal welfare."
Notable activities
editIn 2018, COFECE blocked Walmart from acquiring five stores from Soriana.[4]
Powers
editFunctions of COFECE include approval of mergers and acquisitions, investigating and penalizing monopolistic conduct, authorizing business activities in regulated sectors, and advocacy for competition in the marketplace. Article 28 of Mexico's constitution prohibits monopolies, but a more complete competition policy was set out in the LFCE (1993).
Leadership
editThe commission is headed by five commissioners appointed by the President of Mexico, each of whom serves 10-year terms; one of the five members serves as president of the commission. Additionally, COFECE employs 175 other people, including 41 support staff. The current chair of the agency is commissioner Andrea Marván Saltiel, who was appointed in May 2023.[5]
References
edit- ^ "Federal Law on Economic Competition. Historical Background" (PDF). 2014-05-17. Archived (PDF) from the original on 2014-05-17. Retrieved 2021-09-09.
- ^ "LA PRIMERA DÉCADA DE LA COMISIÓN FEDERAL DE COMPETENCIA" (PDF). Archived (PDF) from the original on 2021-09-09.
- ^ "cofece Info". Archived from the original on 2020-12-05.
- ^ CPI (2018-05-15). "Mexico: COFECE blocks acquisition of Soriana stores by Walmart - PYMNTS.com". PYMNTS.com - What's next in payments and commerce. Retrieved 2024-01-24.
- ^ Bagley, Alex (2023-03-21). "Mexico appoints new head". Global Competition Review. Retrieved 2024-01-23.
External links
edit
 | This Mexican government–related article is a stub. You can help Wikipedia by expanding it. |