We interview Alejandra Palacios, former president of COFECE, for a clear-eyed take on Mexico’s new competition framework - one that may not end up as bad as first feared. We also speak with Fernando Sandoval, CFO and cofounder of Kapital, on how a small and mostly unknown fintech has quickly grown into a regulated bank now reportedly valued at $1.3 billion, fresh off a $100 million raise and the acquisition of Intercam’s assets. Beyond the interviews, we look at the rumored soda tax already shaking KOF and Arca investors, recap BIVA Day in New York, examine Pemex’s so-called “not-fracking” plan, and review the government’s new anti-dumping tariffs on Chinese shoes.