PERU

On August 13, the Stock Market Superintendency (SMV for its acronym in Spanish) published the Supporting Documents for the Development of the Capital Market Roadmap, aimed at strengthening the role played by the stock market in corporate sector financing. The Roadmap was prepared by the SMV in conjunction with the World Bank and with the support of the Swiss State Secretariat for Economic Affairs (SECO) They also circulated the Stock Market Diagnosis, which was used as an input for the elaboration of the Roadmap.  

The Roadmap includes short-term policies with issues relating to the supply and demand of securities, as well as transparency, price formation, liquidity and conflicts of interest. It also establishes policies on market infrastructure. These measures are being analyzed by the Working Group of the Capital Market Advisory Council, involving representatives from public and private sector entities whose job it is to analyze policies and their potential for implementation.

The main points covered in the Working Group meetings involve setting up a program to prepare companies, implementing mechanisms to improve liquidity, and improving the corporate governance framework. Other areas include the review and elimination of tax distortions produced by financial market instruments.