Wednesday, May 18, 2011

Virtual Forex Trading Free

FEDECAMARAS unusual retroactive application of law to brokerage

FEDECAMARAS President, Noel Alvarez, described as unfair the criminal action against the brokerage firm executives, since we intend to apply the retroactivity of a law and the illegality of Interest and Principal Securities Covered (TICC), instruments commonly used by banking, trade and industry, perfectly regulated by the Central Bank of Venezuela.

"According to the judge's view of control Vásquez Martínez Robinson said all those who bought and sold TICC could be charged, if accepted the lush approach it illegal. Means that all banks, industry, trade, finance ministry itself (which declared legal operations through its legal consultancy) and the Central Bank of Venezuela, may be subject to criminal sanctions, "said Alvarez.

explained that "The principle that states that there can be no crime where the law has not anticipated. In this case, trying to ignore this pr ecepto Publish Post. The Exchange Act Against Illicit force since September 2005 and amended in February 2008, expressly permitted in Article 9 of the securities transactions and excluded from liability these criminal transactions. That law was repealed on May 17, 2010, and now we intend to apply retroactively new version. How to judge people with a law that took effect after the fact which is attributed? "

Noel Alvarez argued that" the BCV and watched the operations authorized and in addition recorded in the "secondary market" in the System of Electronic Custody of Securities (SICET). Likewise, the National Securities Commission permanently monitored and regulated such transactions. "

"In recent years entered the market of securities thousands and thousands of small and medium investors seeking better returns for their savings. The companies were also massively present in that market. The President of the Republic urged to buy securities. It is rather irresponsible now intends to demonize such activity, "added Alvarez.

According to union leader, had spent five years buying and selling securities in the secondary market, so it is noteworthy that after all this time, state officials decided that allowing such operations Law, together BCV resolutions, exchange agreements, the oversight of the National Securities Commission is now be illegal.

also Alvarez warned that "it is disturbing that make a witch hunt and get to also take action against small and medium entrepreneurs who participated in the purchase of securities to access the secondary market currencies."

Lapatilla.com , 18/05/2011, link to the original text

0 comments:

Post a Comment