Comisión Federal de Competencia
Encyclopedia
The Comisión Federal de Competencia (CFC), or Federal Competition Commission, is an agency of the government of Mexico
, under the Ministry of Economy. Established in 1993, it is responsible for implementation of the Federal Economic Competition Law (LFCE).
The CFC was established in 1993. It is headed by five commissioners who serve 10-year terms, who are appointed by the Mexican president
. One commissioner serves as president of the commission. The CFC also employs 175 other people, including 41 support staff.
The mission of the CFC 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." Functions of the CFC 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).
Mexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
, under the Ministry of Economy. Established in 1993, it is responsible for implementation of the Federal Economic Competition Law (LFCE).
The CFC was established in 1993. It is headed by five commissioners who serve 10-year terms, who are appointed by the Mexican president
President of Mexico
The President of the United Mexican States is the head of state and government of Mexico. Under the Constitution, the president is also the Supreme Commander of the Mexican armed forces...
. One commissioner serves as president of the commission. The CFC also employs 175 other people, including 41 support staff.
The mission of the CFC 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." Functions of the CFC include approval of mergers and acquisitions
Mergers and acquisitions
Mergers and acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling, dividing and combining of different companies and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a new field or...
, investigating and penalizing monopolistic
Monopoly
A monopoly exists when a specific person or enterprise is the only supplier of a particular commodity...
conduct, authorizing business activities in regulated sectors, and advocacy for competition in the marketplace. Article 28 of Mexico's constitution
Constitution of Mexico
The Political Constitution of the United Mexican States is the current constitution of Mexico. It was drafted in Santiago de Querétaro, in the State of Querétaro, by a constitutional convention, during the Mexican Revolution. It was approved by the Constitutional Congress on February 5, 1917...
prohibits monopolies, but a more complete competition policy was set out in the LFCE (1993).