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

Author

Listed:
  • Cristóbal Espín Gutiérrez

    (Universidad Complutense de Madrid)

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.

Suggested Citation

  • Cristóbal Espín Gutiérrez, 2007. "La clasificación y la evaluación de los clientes-inversores en la reforma de la Ley del Mercado de Valores," EKONOMIAZ. Revista vasca de Economía, Gobierno Vasco / Eusko Jaurlaritza / Basque Government, vol. 66(03), pages 164-193.
    • Handle: RePEc:ekz:ekonoz:2007308
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    More about this item

    Keywords

    investor; classification; suitability; appropriateness;
    All these keywords.

    JEL classification:

    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

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