New securities law to be proposed

The executive branch will submit to the legislature a proposed law to cover the country’s security market.

That was announced Wednesday by the Banco Central.

The details of the bill are not yet known, but the central bank said that the proposed  Ley Reguladora del Mercado de Valores would seek to give investors a better idea of the risks involved and to clearly define the role of various participants.

The current law has been on the books since 1998 and has become insufficient to keep up with the transformation of the country, said the central bank.

The goal also is to further integrate the Costa Rican securities market with that of the world, said the bank.

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