Stocks market would become anonymous societies

According to the Law of strengthening and optimization of the stock market Sector, which was discussed yesterday in the Committee of economic regime of the Assembly, Ecuador stock exchanges would become for profit corporations.

The delegates, who were led  by Oswaldo Larriva, analyzed 25 of the 133 articles of the law and was commissioned to make formal changes in the original text, submitted by the Executive.

The President of the stock exchange of Quito, Mónica Villagómez, said that becoming  corporations is a yearning for several years, so stock exchanges  can negotiate their actions and also pay taxes like any society.

For his part, Assembly member Ramiro Aguilar (SUMA) explained that the transformation of the stock exchanges  will help to the modernization of the market.

Aguilar explained that there are three controversial points: the alternation of the directors, the regulation of trusts and the creation of the securitization of future flows.

On the other hand, yesterday, within the participation of the Public Sector in the stock market, was clarified that the auction was removed since according to the authors of the law, it puts the State in disadvantage when it comes to negotiate under this mechanism.