Modifications to the Regulation on Infrastructure Financing and Securitization now allows for the creation of investment vehicles to finance public works projects.
These investment vehicles can be used for two purposes: to develop the work or to securitize its use or exploitation. With the amendment to the regulations, sustainable infrastructure works can be developed self sufficiently without government intervention.
A proposal by the General Superintendence of Securities would make conditions for securitization trusts more flexible in order to fund private and public infrastructure.
In order to make greater use of the model of funding works using public and private investment through securitization of assets with future cash flows, the General Superintendence of Securities (Sugeval) is preparing a reform to the regulation of Public Offering of Securities, which regulates how investment vehicles that are registered in the Stock Exchange should be structured .
The Costa Rican Securities Superintendent is planning changes to provide more transparency and information to the market.
Those who develop investment products must "detail the identity of the company, its team, report on their knowledge of the subject, the results and experience they have and disclose any conflicts of interest. "
Elfinancierocr.com reports that "by March 2013, all firms providing investment banking services in the country will have to register, disclose who their executives are, their experience and potential conflicts of interest. This is another initiative of the chief of the General Superintendence of Securities (Sugeval), Carlos Arias, within his list of short term goals. "
An article in Elfinancierocr.com reports that "the new head of the Superintendent of Securities (Sugeval), Carlos Arias, in what has been called his plan for the short term, included the possibility of implementing a certification or registration process for investment advisers, portfolio managers and investment or structuring banks. "
In November 2010 announcements were made for works worth $760 million to be financed through securitizations which never materialized.
An article in Elfinancierocr.com reports that "In October 2010 a change in the regulation of public offering of securities came into force regulating investment instruments originating from securitization and trusts for public works developments."
Denimatrix announced an alliance with "Accesorios Textiles" (Textile Accesories), the country's largest label producer.
'Accesorios Textiles' will supply labels for Denimatrix's jeans. The latter, formerly known as Koramsa, manufactures 120.000 jeans each week, for renowned brands such as Abercrombie & Fitch, Banana Republic, GAP, Rock & Republic and Buckle.
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