Some Mexican Regulators Carry Their Resignation Letters at All Times
- Law would prevent officials from taking bank jobs for 10 years
- Brain drain may hurt efforts to ensure stability, probe frauds
This article is for subscribers only.
Mexico’s banking and securities regulator has already been hobbled by hundreds of resignations after the country’s new president slashed salaries and benefits. Now, one of his prospective laws threatens to set off an exodus of the agency’s top officials.
The legislature is set this month to enact strict curbs on the revolving door between the government and private sector, seeking to eradicate what leftist President Andres Manuel Lopez Obrador calls the “cancer of corruption.” High-level public servants would be banned from taking jobs with companies they once regulated for 10 years -- one of the most stringent such laws in the world.