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CMVM Annual Report 1996   PART ONE - Securities Market Performance in 1996   Message from the President 1  Aggregate Economy Survey 1.1  World Summary 1.2  European Economy 1.3  Portuguese Economy 2  Securities Market Perfomance in 1996 2.1  International Environment 2.2  The Portuguese Securities Market 3  The Primary Market 3.1  Shares 3.2  Bonds 3.3  Public Debt 4  Secondary Market 4.1  Spot Market Transactions 4.2  Market capitalisation 4.3  Stock Exchange Transactions 4.4  Indices 4.5  Takeover Bids and Public Offers for Sale 4.6  Securities Trading Suspension and Interruption 4.7  Listings and Delistings 4.8  MEOG 4.9  The Futures Market 4.10  Foreign Investment 5  Financial Intermediaries 5.1   Activity 5.2  Collective Investment Instruments 6  Central de Valores Mobiliários 6.1  Settlements through the Central     PART TWO - CMVM's Action in 1996 1  Market supervision 2  Supervision of Issuers 2.1  Disclosure of Periodical Information 2.2  Disclosure of Non-Periodical Information 2.3  Monitoring of Listed Companies' Shareholding Structure 2.4  Monitoring of Restructuring Operations 2.5  Registration and Monitoring of Independent Auditors 3  Registration of Offers for Subscription, Takeover Bids and Offers for Sale 4  Supervision of Securities Intermediation 4.1  Financial Intermediaries 4.2  Securities Investment Funds 4.3  Real Estate Investment Fund 5  Enforcement 5.1  Inspection of the Securities Investment Funds Management Companies 5.2  Miscellaneous Inspection Operations 5.3  Complaints and Grievances 6  Litigation 6.1  Administrative Lawsuits Carried Over From Previous Years 6.2  Administrative Lawsuits Initiated in 1996 6.3  Sanctions 7  International Relations 7.1  Extra Community 7.2  Intra Community 8  CMVM's Relations With Other National Entities 9  Regulatory Development 10  Studies 11  Securities MArket Promotion Undertaken by The CMVM 12  Organisation and Resources 13  Information Systems 14  Documentation Centre and CMVM's Blletin     PART THREE - Development Prospectus 1  Development Prospects 2  ANNEX A. CMVM's Governing Bodies (31st December 1996) 3  ANNEX C. Legal Regulations on the Securities Market Published in 1996 Other Editions 2008 Report 2007 Report 2006 Report 2005 Report 2004 Report  2003 Report 2002 Report, Annex 2001 Report (2,33 Mb), Annex 2000 Report 1999 Report 1998 Report 1997 Report 1996 Report