New Rules for the Dominican Stock Market

Protecting the rights of investors and minimizing systemic risk is part of the objectives pursued by the new law on the stock market in the Dominican Republic.

Thursday, December 21, 2017

The Executive Power promulgated Law 249-17 that modifies the previous 19-00 of the Dominican securities market. 

The Superintendent of Securities, Gabriel Castro González, "... said recently to ElDinero that once the new legislation is enacted, the National Securities Council (CNV) is formed, which will have a broader framework of action on agents and transactions of which the sector is made up."

"... He said that the Superintendency of Securities has a work schedule to develop the first ten, among which are the institutional items, which will deal with the functioning of the highest body; that of the tariff framework, intermediaries of the stock market, registry of over-the-counter operations, public offering of securities, relevant events and the Centralized Securities Depository (Cevaldom), among others."

More on this topic

Panama: Brokerage Firm's License Suspended

July 2016

For breaching the Securities Market Law an order has been given to indefinitely suspend the operations of the brokerage firm FDG Wealth Management.

From the resolution given by the Superintendency of Securities in Panama:

First: Order the indefinite suspension of the stock broker license which was granted by Resolution SMV No 34-2014 of 24 January 2014, until the stock broker firm FDG Wealth Management remedies breaches to the Stock Market Act that led to the suspension and to the Superintendency of securities adopting other measures. 

Costa Rica: Backwards Step in Opening of Stock Market

April 2014

The proposal to create a market for direct trading of securities has been rejected by the authorities, yielding to pressure from industry participants themselves.

Although the World Bank itself proposed analyzing the creation of a market where investors could directly buy and sell securities, the government bowed to pressure from the National Stock Exchange and stock brokers, and chose not to include the proposal in the initiative for modernization of the Law Regulating the Securities Market.

Panamanian Stock Market Could Be Out of Iosco

March 2014

The International Organization of Securities Commissions is demanding regulatory approval so that the country will not be excluded from the international money market.

The stock market has a need for exchange of information in order to comply with the International Organization of Securities Commissions (IOSCO), which requires its members to have a mechanism to determine who is the beneficiary of a transaction.

A Securities Law for Guatemala

February 2014

A bill prepared by the Bank of Guatemala aims to stimulate the domestic market and strengthen it as a regional financial center.

The proposal is to dematerialize securities through book entries and stock market operations which are totally electronic.

"...The proposal assigns responsibility of Supervision to the Superintendency of Banks (SIB), in conjunction with the Monetary Board."

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