Self-Regulation
Analysis of work programs
In accordance with Self-Regulatory Standards I.1 and V.2, regarding the annual Compliance Officer Program that must be submitted by brokerage firms and mutual fund managers, respectively, all of these programs were submitted within the first four months of the fiscal year.
Those programs were analyzed and the results presented to the Board of Directors. The conclusion was that all met the minimum standards described in those Standards, so no remarks or observations were formulated on the matter of the Standards.
Sanctions
In 2007, the disciplinary committee imposed the following sanctions:
Self-regulatory standard |
Brokerage firm/Managers |
Total sanctions imposed (in pesos) |
| I.1. Compliance Officer. Appointment and duties. | Zero | 0 |
| I.2.1. Control of brokerage firm personnel | 4 | $10,114.00 |
| I.3. Brokerage firm client investment profiles | Zero | 0 |
| IV.1.1. Disclosure of brokerage firm capitalization levels. | Zero | 0 |
| VI.2.3. Reserve fund. | 7 | $105,817.00 |
| IIV.3. Provision of statistical information | 1 | $2,528.50 |
| V.1. Provision of statistical information by mutual funds. | 5 | $10,019.00 |
| V.2. Mutual Fund Compliance Officers. | Zero | 0 |
| V.3. Minimum requirements for Mutual Fund Manuals of Conduct. | 23 | $584,023.50 |
| V.4. Guidelines on advertising, promotional and informational material published by mutual funds | 10 | warnings |
| V.5. Control of mutual fund personnel | 7 | $20,133.00 |
| VI.1. Clearing and settlement of securities | Zero | 0 |
| TOTAL sanctions imposed | 57 | |
| TOTAL collected as of December 2007 in sanctions | 714,806.50 | |
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