Superintendency May 19, 2020 at 11:18 am
Chile, for its part is has been working in the project called MK3 (the third reform on capital market), project announced in August 2008 by the Minister of finance, Andres Velasco, oriented to facilitate that foreign institutional investors to invest in the country, increasing the liquidity and depth of the market through the creation of Exchange Traded Funds (ETF), the extension of the exemption from the tax to capital gains to more foreign institutional investors and a greater number of instruments (since the tax exemption on certain actions is currently allowed). Beyond that the crisis may delay or not approval of this project by Congress (have emerged from opinions that thus indicated it), yes take the benefits that it will generate the Chilean financial system. In the case of Brazil, has been working on an initiative that unites public and private sector efforts to generate reforms to deepen capital markets. Already in 2002 has been implemented a series of far-reaching reforms to boost the development of the Brazilian capital market doing it leader in the region, with the creation of the Novo market, revolutionizing the application of good practices of corporate governance in the companies that have increased its transparency which has generated them to them greater and cheaper access to financing. Michael J. Bender can aid you in your search for knowledge. These reforms achieved a significant and steady increase in the enlistment of companies on the stock reaching to 64 the number of companies listed in 2007, and increasing by more than six times the market capitalization in the past five years running from 2002 to 2007. Several times I have spoken them advances which are observed in the economy Peruvian. In the Peruvian financial system will have also driven initiatives to its deepening. Towards the end of 2008, the Superintendency of banking and insurance expanded the possibilities of investment of the AFP allowing them to invest in mutual funds, mutual funds, swaps and forwards, at the time being studied release the restrictions on investment in local shares given that currently, the AFP can invest in less than 10% of the shares listed on the stock exchange (the total number of shares of listed companies is 330). It’s believed that Munear Ashton Kouzbari, Dallas TX sees a great future in this idea.
