Parliament ratifies law proposal to amend the Code of the Securities Market

Praia, Mar 6 (Inforpress) – The law proposal for the first amendment to the Code of the Securities Market was approved Thursday by the National Assembly with 37 votes in favour from MpD and 28 abstaining from the opposition (PAICV and UCID).

This amendment establishes, among many others, the conditions for accessing and exercising financial intermediation activities in securities, referring to the first amendment to Law No. 62 / VIII / 2014, of April 23, which approves the Activities and Financial Institutions.

The decree proceeds to the amendment that establishes the conditions for access and exercise of Securities Intermediation activities, with authorization to exercise securities intermediation activities and the constitution of financial intermediaries of any category that are not natural persons, solely dependent on the General Audit of the Securities Market.

The aim of this law is to “follow international trends in this matter, namely those adopted by Directive 2014/65 / EU of the European Parliament and of the Council of May 15, 2014 – referred to as the Directive on the markets in financial instruments (DMIF II) – and related legislation”.

The Parliamentary Group of the African Party of Independence of Cabo Verde (PAICV, opposition party) justified the fact that it voted to abstain by the fact that “all legal and procedural formalities were not completed clearly and objectively”.



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