Securities Law amendments sent to Senate
President Danilo Medina has sent the amendments to the Ley del Mercado de Valores, the Securities Market Law, to the Senate. The proposed changes include new supervision measures that are required to guarantee juridical security to investments and reduce risks. The National Council of Securities initially approved the bill on 15 June 2015 followed by the Monetary Board on 17 December 2015.
Medina explained that the changes respond to updates in the legal framework of the law required by the International Organization of Securities Commissions (IOSCO). The amendments are necessary for the DR to be admitted to the IOSCO.
Last Wednesday, 2 March 2016, President Danilo Medina issued decree number 119-16 approving amendments to the ruling for the implementation of the Law on Securities Market No. 19-00.
The decree expanded the range of instruments and publicly offered securities that can be traded on the Dominican Stock Market. The objective is to promote and channel increased savings in the medium and long term. The amendments are chiefly aimed at adapting the regulatory framework to the offerings under the trust (Ley de Fideicomiso) modality.
From DR1 front page news
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These are the final steps to procure a stocks market in the DR which is well regulated and trusted.
Instead of paper, stocks will be traded both on the floor and online.
President Danilo Medina has sent the amendments to the Ley del Mercado de Valores, the Securities Market Law, to the Senate. The proposed changes include new supervision measures that are required to guarantee juridical security to investments and reduce risks. The National Council of Securities initially approved the bill on 15 June 2015 followed by the Monetary Board on 17 December 2015.
Medina explained that the changes respond to updates in the legal framework of the law required by the International Organization of Securities Commissions (IOSCO). The amendments are necessary for the DR to be admitted to the IOSCO.
Last Wednesday, 2 March 2016, President Danilo Medina issued decree number 119-16 approving amendments to the ruling for the implementation of the Law on Securities Market No. 19-00.
The decree expanded the range of instruments and publicly offered securities that can be traded on the Dominican Stock Market. The objective is to promote and channel increased savings in the medium and long term. The amendments are chiefly aimed at adapting the regulatory framework to the offerings under the trust (Ley de Fideicomiso) modality.
From DR1 front page news
------------------------------------------------------------------
These are the final steps to procure a stocks market in the DR which is well regulated and trusted.
Instead of paper, stocks will be traded both on the floor and online.