Comisión Federal de Competencia Económica
The Comisión Federal de Competencia Económica, or Federal Economic 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.
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.
