AMIB Flags Concerns After Court Lets Mexico’s UIF Freeze Accounts Without Judge

Overview

• Mexico’s Supreme Court authorized the Financial Intelligence Unit to block bank accounts without a prior judicial order, prompting a cautious response from the securities industry.
• AMIB’s chief said the association trusts the UIF will use the new power prudently to cut off funds tied to illicit activities.
• To reassure investors, AMIB noted that client assets in funds and brokerages are segregated from the firms’ own money, citing the Vector Casa de Bolsa case where clients were not harmed.
• Analysts at Banamex and the business group Coparmex warned that freezes without pre-set judicial controls could weaken legal certainty and unsettle the economy, with Coparmex also pointing to potential treaty conflicts.
• Sector data show investment funds manage about 5.05 trillion pesos and serve tens of millions of accounts, as regulators highlight rapid digital adoption and a growing investor base.