Autorregulación en el mercado de valores en Colombia: análisis de su aspecto disciplinario
Self regulation in the securities market is an organized structure which facilitates the securities intermediaries� performance. In Colombia, the Self Regulatory Organization of the Securities Market of Colombia was created to take control of three functions established by law: regulation, superv...
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| Format: | Article |
| Language: | Spanish |
| Published: |
Pontificia Universidad Javierana
2009
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| Subjects: | |
| Online Access: | http://dialnet.unirioja.es/servlet/oaiart?codigo=3628031 |
| Source: | Revista de la Maestria en Derecho Económico, ISSN 1692-3103, Nº. 5, 2009, pags. 155-200 |
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| Summary: |
Self regulation in the securities market is an organized structure which facilitates the
securities intermediaries� performance. In Colombia, the Self Regulatory Organization
of the Securities Market of Colombia was created to take control of three functions
established by law: regulation, supervision and discipline enforcement actions.
Subsequently, assumed as well professional certification within the market. This
paper focuses on disciplinary action, which basically consists of filling disciplinary
procedures against intermediaries and / or individuals linked to securities intermediaries
when they breach the existing regulations. The article briefly describes the principal
aspects of disciplinary action: guiding principles, aims, dynamics and steps. It also
specifies the type of sanctions determined by law, the final decisions in the processes
and the possibility of having an Early Termination Settlement. Finally, it presents
disciplinary action functions� weaknesses and challenges within self regulation in
Colombia. In synthesis, the article emphasizes on the idea that disciplinary action is
essential in any self regulation scheme, since it contributes to the preservation of its
own stability |
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