Portuguese Securities Market Commission
Portuguese financial regulator
From Wikipedia, the free encyclopedia
The Portuguese Securities Market Commission (CMVM) is the Portuguese financial regulator that supervises and regulates securities and other financial instruments and activities of all those who operate within said markets.[1]
| Comissão do Mercado de Valores Mobiliários | |
| |
| Agency overview | |
|---|---|
| Formed | May 10, 1991 |
| Type | Legal entity governed by public law |
| Jurisdiction | Portugal |
| Headquarters | Rua Laura Alves, n.º 4 - 1050-138 Lisbon |
| Agency executive |
|
| Key document | |
| Website | www |
The CMVM is an independent public agency endowed with administrative and financial autonomy. It derives its income from supervision fees charged for services and not the General State Budget.
Whereas it is governed under a national framework of accountability, the CMVM increasingly implements policies set at the European Union level. It is a voting member of the Board of Supervisors of the European Securities and Markets Authority (ESMA).[2] It is also a member of the European Systemic Risk Board (ESRB).[3]
History
CMVM was incepted via Decree-Law No. 142-A/91, of 10 April, and established on 10 May 1991 following 30 days after its publication.
Mission
It is CMVM's mission to:
- Sanction infractions to the Securities Code and other national legislation;
- Ensure the stability of the financial markets, by contributing to identify and prevent systemic risk;
- Contribute to the development of financial instruments markets;
- Provide information and handle complaints of non-qualified investors;
- Mediate conflicts between entities that are subject to its supervision and between said and individual investors;
- Assist the Government and the Finance Minister;
- Perform any other tasks that may be assigned by law.
Structure
CMVM structure:
- Management Board
- Supervisory Board;
- Advisory Board;
- Ethics Committee
The CMVM integrates the National Council of Financial Supervisors.