Mexico: COFECE targets retirement fund managers in collusion probe

Mexico’s competition authority has launched an investigation into possible instances of collusion in the Retirement Fund Management market, known in Mexico as AFORES.

The process does not presume the guilt of the parties under investigation. However, should enough evidence be found to support the accusations, COFECE would prosecute any infractions, following the procedures set out in the Federal Competition Law (Ley Federal de Competencia Económica), which was revamped in 2012.

The probe will last between 30 and 120 days, with four possible extensions. All the information collected by COFECE will be regarded as confidential during the proceedings.

Source: Informador

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