Misplaced Pages

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16-725: As an infrastructure provider and securities issuer, the bvc is overseen by the Superintendencia Financiera de Colombia . Its main function is to be financing alternative for the productive system, through direct investment. The bvc does not have regulatory or oversight functions. The idea of a stock exchange in Colombia occurred originally in Medellín at the beginning of the 20th century with an initiative in 1901 and then in Bogotá in 1903 with an unsuccessful outcome. It

32-405: A Chief Superintendent of Banking to head the agency and charged him with the monitoring of all banking institutions. In 2005, the agency was merged with the securities regulator, with the added functions of inspection, monitoring and control of persons involved in the following sectors: financial, securities, insurance and any other related to the management and investment of resources collected from

48-505: Is also a NYSE listed company and Scadta today known as Avianca . Bogotá Stock Exchange remained as Colombia's only stock trading organization until the 1950s when Medellín created its own Stock Exchange. This was particularly useful for the coffee trade since Colombia's coffee market's original birthplace is the Department of Antioquia . Cali created its stock exchange in the mid-1970s. The main driving force of this stock exchanges

64-468: Is the Colombian government agency responsible for overseeing financial regulation and market systems in order to preserve stability, security and confidence, and to promote, organize and develop the securities market. It is also mandated to provide investor protection for depositors and policyholders. The agency was established in 1923 as a banking regulator, by Law 45. Article 19 of this law appointed

80-427: Is the supervision of designated financial firms and markets by specialized authorities such as securities commissions and bank supervisors . In some jurisdictions, certain aspects of financial supervision are delegated to self-regulatory organizations . Financial regulation forms one of three legal categories which constitutes the content of financial law , the other two being market practices and case law . In

96-484: Is to ensure that investors have access to essential and adequate information for making an informed assessment of listed companies and their securities. Asset management supervision or investment acts ensures the frictionless operation of those vehicles. Banking acts lay down rules for banks which they have to observe when they are being established and when they are carrying on their business. These rules are designed to prevent unwelcome developments that might disrupt

112-456: The early modern period , the Dutch were the pioneers in financial regulation. The first recorded ban (regulation) on short selling was enacted by the Dutch authorities as early as 1610. The objectives of financial regulators are usually: Acts empower organizations, government or non-government, to monitor activities and enforce actions. There are various setups and combinations in place for

128-477: The evolution of illegal drug trade and the violence it brought, were factors that decimated the share trading market of Colombia during the 1970s. Despite these problems and the original stock exchange losing its original mission of being a vehicle for the trading of shares, its executives pursued the improving of the credibility of Bolsa de Bogota by concentrating in the operations between potential investors and shareholders. During 2001 it became necessary to merge

144-701: The financial regulatory structure around the globe. Exchange acts ensure that trading on the floor of exchanges is conducted in a proper manner. Most prominent the pricing process, execution and settlement of trades, direct and efficient trade monitoring. Financial regulators ensure that listed companies and market participants comply with various regulations under the trading acts. The trading acts demands that listed companies publish regular financial reports, ad hoc notifications or directors' dealings. Whereas market participants are required to publish major shareholder notifications. The objective of monitoring compliance by listed companies with their disclosure requirements

160-654: The public. This bank and insurance -related article is a stub . You can help Misplaced Pages by expanding it . Financial regulation Financial regulation is a broad set of policies that apply to the financial sector in most jurisdictions, justified by two main features of finance: systemic risk , which implies that the failure of financial firms involves public interest considerations; and information asymmetry , which justifies curbs on freedom of contract in selected areas of financial services, particularly those that involve retail clients and/or Principal–agent problems . An integral part of financial regulation

176-637: The regulations of the new entity and on November 23 of 1928 the public title 1702 was signed and constituted the Bogota Stock Exchange as a public limited company . On May 6, 1929, the first board of trustees was elected. In March 1929 the first 17 traders were assigned by Banking Superintendent Gonzalo Cordoba and on April 25 corporations and organizations registered their shares, this included banks, financial service companies and manufacturing and commercial services corporations. Among them Bank of Colombia currently branded as Bancolombia which

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192-463: The same time, the Deceval, DCV and Cavali Central Securities Depositories were also set up to create a regional trading market for equity securities from the three MILA countries. [www.mercadomila.com] opens up a world of opportunities for investors and brokers from Chile, Colombia, Mexico and Peru, who have been able to easily buy and sell stocks from the three stock markets through a local broker since

208-676: The start of MILA. On July 22, 2014, the Colombia Securities Exchange (bvc) became the 11th stock exchange to join the United Nation's Sustainable Stock Exchanges initiative . In September 2008, bvc launched its listed Derivatives Market introducing a Notional Basket of Colombian Treasury Bonds. 04°39′14.92″N 74°03′21.23″W  /  4.6541444°N 74.0558972°W  / 4.6541444; -74.0558972 Superintendencia Financiera de Colombia The Superintendencia Financiera de Colombia (SFC)

224-732: The three regional stock exchanges into what it is known today as Bolsa de Valores of Colombia (Stock Exchange of Colombia). Another highlight was the start-up of the Integrated Latin American Market (MILA, in its Spanish acronym) on May 30, 2011. This was the result of an agreement signed between the Santiago Stock Exchange, the Colombia Securities Exchange, the Lima Stock Exchange and the Mexican Stock Exchange. At

240-546: Was not only until the late 1920s when the political and socio-economic landscape seemed to give more opportunities of survival. It was in mid-1928 when a group of entrepreneurs and government officials from Colombia and abroad organized the promotion of the Bogotá Stock Exchange ( Sp. Bolsa de Bogotá ) so they could establish the judicial and operational framework of the newly created organization. Former Minister of Economy and jurist Jorge Soto del Corral composed

256-555: Was the economic growth it meant to their participants. However, the policy making of the original stock exchange and Colombia's Bank of the Republic (Similar to the United States Federal Reserve ) was archaic for today's standards. The evolution of the financial policies of the estate, the fundamental macroeconomic principles, the development of a financial system, the creation of entrepreneurial groups and

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