Can you please give us an idea of the sort of work your team has done recently?

In 2021, the team handled our clients’ difficulties due to the winter matter in Texas and the sharp rise and shortage of gas which represented relevant complications. Within a short period of time, we implemented outsourcing reform which changed our previous business model and vendor’s management. As a team leader, I was responsible for coordinating all aspects including taxes, employment, accounting, and obviously legal matters. Recently, we also gave advice on Mexican legal issues to apply for a CFTC temporary no-action letter to Mexican non-bank swap dealers (SDs) domiciled in Mexico.

Which recent political, economic or regulatory changes have impacted the company and the team the most?

We will continue to manage Covid related volatility which combined with an increase in interest rate and higher inflation as added uncertainty to markets. The outsourcing reform in Mexico which limited outsourcing to non-core business activities and specialised services only and added a relevant layer of monitoring and compliance activities. General uncertainty in connection with the energy regulation outlook in Mexico due to the presidential initiative to amend existing energy laws.

Even in the best-case scenario, Covid is likely to have far-reaching ramifications. How are you safeguarding the long-term health of the business?

For two years now we have been mostly working remotely. It is likely that in the future a more hybrid-type of work will remain, so we need to modernise our training techniques and methodologies for the new generations but without losing quality in our work and objective performance evaluation of team members. This is an area we have been working trying to adjust and find a right balance. The use of technology tools in the documentation process (i.e., e-signatures and the use of DocuSign type of tools) will take more relevance. One of the key issues here for lawyers is to ensure a proper framing of using these tools while complying with “old-fashioned” legal infrastructure including courts and regulator’s approach to electronic consent and evidence.