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- Title
LA REFORMA DE LA LEY DEL MERCADO DE VALORES. MODIFICACIÓN SUSTANCIAL DEL SISTEMA DE COMPENSACIÓN, LIQUIDACIÓN Y REGISTRO DE VALORES REPRESENTADOS MEDIANTE ANOTACIONES EN CUENTA.
- Authors
Tarrero Martos, Jaime
- Abstract
Law 32/2011, of 4 October, which amends Law 24/1988, of 28 July, on the securities market, anticipates and sets the master plan of the future Spanish clearing, settlement and registry system of securities transactions, reviewing its historical mainstays to align it with the practices and standards of our European neighbors and prepare it for the implementation of future integration projects (e.g. Target2-Securities). Law 32/2011 is the starting signal of a set of reforms that will dramatically change the systems and procedures applied for the last two decades in this area, although it should be emphasized that, as of today, the state of affairs remains practically unaltered, and it does not provide either a clear time horizon in which the reform will be implemented effectively.
- Subjects
SPAIN; SECURITIES trading laws; COMMERCIAL law; SPANISH law; FINANCIAL markets; LEGISLATIVE amendments; SECURITIES
- Publication
Actualidad Jurídica (1578-956X), 2012, Issue 31, p70
- ISSN
1578-956X
- Publication type
Article