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Highlights

Draft Regulations for New Securities Market Code

 

The Office of the Auditor-General of the Securities Market has until April 10, 2012 to submit the draft regulations for development of the new Securities Market Code for public consultation. Said Code comes into force on March 27 of this year.
As a complement to the new Securities Market Code, these projects aim to modernize the market’s regulation, for the benefit of stronger investor protection, particularly in the context of the duties of reporting and prudential supervision. The Securities Market Code aims to establish the fundamental principles and rules that govern the organization, functioning and operations of securities markets and the activities of everyone involved in them.

 

Public Consultation of the AGMVM No. 1/2011
Draft amendment to the Legal Framework for Investment Funds (Decree-Law No. 15/2005, of February 14).

The Office of the Auditor-General of the Securities Market (AGMVM) submits a draft amendment to the Legal Framework for Investment Funds (Decree-Law No. 15/2005, of February 14) to public consultation.

These legislative proposals are presented with the dual purpose of, firstly, remedying some deficiencies and incompleteness of the legal framework that has been in force until now and, secondly, updating the law, by virtue of relevant international developments in this area, so that the Cape Verdean system can be aligned with the best practices in the area of investment funds, and may be equipped with more transparent solutions, which are able to better safeguard financial innovation and investor protection.
 
Comments can be sent to AGMVM via:
1 - e-mail to: agmvm@bcv.cv
2 – postal mail to: Avenida Amilcar Cabral, P.O. Box No. 101, Praia

3 - fax to: 238 2607079.

The consultation runs until December 8, 2011.