El marco constitucional para la autorregulación del mercado de valores en Colombia: un análisis de cómo la Corte Constitucional contradice su propio precedente sin razón alguna
Based on an applicable precedent, this paper evaluates the soundness of judgment C-692 of 2007, adopted by the Constitutional Court regarding the constitutionality of the Act 964 of 2005, under which the public nature of the securities market self regulation is denied. Contrary to the ruling of t...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Pontificia Universidad Javierana
2009
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| Subjects: | |
| Online Access: | http://dialnet.unirioja.es/servlet/oaiart?codigo=3628018 |
| Source: | Revista de la Maestria en Derecho Económico, ISSN 1692-3103, Nº. 5, 2009, pags. 131-153 |
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| Summary: |
Based on an applicable precedent, this paper evaluates the soundness of judgment
C-692 of 2007, adopted by the Constitutional Court regarding the constitutionality
of the Act 964 of 2005, under which the public nature of the securities market self
regulation is denied. Contrary to the ruling of the Court in this case, it will be demonstrated
that securities market self regulation is a public function, which should render
unconstitutional legal provisions denying the public character thereof. The main
consequence of defining securities market self regulation as a public function would
be threefold: first, functional duplicity would be avoided, via the competences of the
Financial Superintendent office; second, the Financial Superintendent office would
be able to abstain itself from initiating administrative sanction proceedings against
securities market intermediaries subject to the oversight of self regulatory organizations;
and, finally, the evasion of functional duplicity as a consequence of defining securities
market self regulation as a public function, which would allow Colombian authorities
to comply to international standards. |
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