Mexico Regulator Fines CCM

Mexico Regulator Fines CCM

Corporate & Sovereign Strategy

Mexico's market regulator has fined Comercial Mexicana (CCM) $3.8m for not fully revealing hefty derivatives trades that led it to default, though it saw no sign of wrongdoing on behalf of the company. “CCM maintains a dialogue with everyone involved in the restructuring process, which continues to advance favorably,” says the issuer. Comerci says it paid only MXP39.2m of the original MXP49.0m fine after receiving a discount for quick payment. “We view this development as another step forward in

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