Medina expected to sign Securities Market bill into Law
DR Securities market, big board
Santo Domingo.- The Chamber of Deputies on Tues. approved the bill to amend Dominican Republic’s Securities Market legislation with a two-thirds majority, and will be sent to president Danilo Medina who’s expected to sign it into Law.
The law stipulates an urgency to promote market transparency under fair competition, through the reform of the Dominican Securities Market structure and its rules of conduct.
As to requirement on third party liability, the bill states that “No personal, civil or criminal action may be attempted against the members of the Board, the Superintendent or similar officer, or the personnel that render their services to the Superintendence or the Board, for administrative acts performed during the exercise of their functions, in accordance with the provisions of this law.”