Mexican Regulator Proposes New Law On Public Procurement

The Mexican Federal Economic Competition Commission (COFECE), presented a proposal for the General Law on Acquisitions, Leases and Services of the Public Sector (Procurement Law) aimed to strengthen, plan, promote, and increase economic competition and incorporate mechanisms to curb corruption with the purpose of achieving public contracting under the best conditions for the benefit of citizens.

Mexican Regulator Proposes New Law On Public Procurement -0
Source: pymnts.com

The proposal incorporates mechanisms to generate greater competition and reduce corruption risks in public procurement to maximize the value of public expenditure.

The proposal was submitted for consideration of the Congress in the context of the Open Parliament convened by the Transparency and Anti-Corruption Commission of the Chamber of Deputies.

Parliaments

Nigeria Proposes New Law To Combat Ponzi Schemes With Severe Penalties
Parliaments

Nigeria Proposes New Law To Combat Ponzi Schemes With Severe Penalties

According to Odaily, the Nigerian Securities and Exchange Commission (SEC) has introduced a draft of the '2024 Investment and Securities Bill' aimed at imposing stringent penalties on individuals convicted of Ponzi scheme crimes. The proposed legislation suggests a maximum fine of $12,000 (20 million Naira) or a 10-year prison sentence for offenders.

Singapore proposes new law to curb bank scams
Parliaments

Singapore proposes new law to curb bank scams

Singapore’s Protection from Scams Bill, presented to Parliament on November 11, proposes an unprecedented measure allowing police to issue Restriction Orders (RO) on suspected scam accounts. If it is passed, Singapore will be the first country to grant police authority to intervene in bank transactions to prevent fraud.