Incorporating mechanisms for access to the stock market for small savers is part of the initiatives contemplated in the reform bill sent for consultation in December, one which industry representatives considered difficult to implement, because of the costs involved.

The controls require by the regulation include compliance with the Know Your Customer Policy, which involves high costs that brokerage firms believe are difficult to assume in the case of investors with small savings.

José Rafael Brenes, director of the National Stock Exchange, said in an article in Nacion.com that "the higher costs associated with the care of small investors are those for creating a profile, providing information and enforcing the "know your customer" policy, issues that are not addressed in the text."

Source: Nacion.com

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