La clasificación y la evaluación de los clientes-inversores en la reforma de la Ley del Mercado de Valores

Cristóbal Espín Gutiérrez
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Cristóbal Espín Gutiérrez: Universidad Complutense de Madrid

EKONOMIAZ. Revista vasca de Economía, 2007, vol. 66, issue 03, 164-193

Abstract: The Ley 47/2007, of the 19th of December, modified the Ley del Mercado de Valores for the purpose of incorporating the Directive 2004/39/CE, MiFID. This reform introduced significant changes to the structure of the Securities Market and the organization and activity of investment firms. Client protection is increased through the development of significant duties. In order to provide adequate protection, it is necessary to have complete information about the client. The first step was the classification of clients and potential clients into various categories according to the protection requirements: retail clients, professional clients and eligible counterparties. The second step was the acquisition of client information through an assessment of suitability or an assessment of appropriateness, regarding the investment services.

Keywords: investor; classification; suitability; appropriateness (search for similar items in EconPapers)
JEL-codes: K22 (search for similar items in EconPapers)
Date: 2007
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