Stock Exchange Regulatory Law (Ley Reguladora del Mercado de Valores,
No. 7732) provides in Art. 117 that electronic book entry systems where securities are registered be kept
on two levels:
Level one: Those entities that have
joined the National Book Entry System, namely:
BCCR, as the body responsible for managing the issuance record of the
Government and public institutions. This role may be delegated in whole
or in part in another member entity.
‘Centrales de Valores’ authorized by the General
Superintendent of Securities (SUGEVAL), which are entrusted with
administrating the record of private issuances.
Level two: Those entities that have
joined the National Book Entry System. These entities may provide custody
services, as well as liquidator members of the National System of Securities
Liquidation of Securities, provided they meet the special requirements
defined by SUGEVAL for them to join the System.
of Securities registered in the electronic book entry system must be
registered with the National Registry of Securities and Intermediaries ( Registro Nacional de Valores e Intermediarios,
RNVI), administered by SUGEVAL. In
accordance with Art. 3 of Law 7732, except for investors, all
individuals/juridical persons directly or indirectly participating in
stock markets should be recorded in this Registry, as well as those acts
and agreements resulting from these markets, and the stock issues subject
to public bids.
ACV service was developed to keep a record public debt recorded in book
entry systems. Those entities in the first level of the National Account
debt issuers may also take part in this service, although only to inquire
about information added on their circulating debt.