There may be differences in the number of cases in the various areas. This is a result of the reclassification which was based on changes to the matters at issue
During the fourth quarter of 2011, the CMVM (Comissão de Mercado de Valores Mobiliários) rendered decisions in three administrative infraction proceedings, two for the breach of market disclosure duties and one pertaining to the collective investment scheme activity.
In 2011, decisions were rendered in 24 administrative infraction proceedings - nine concern the collective investment scheme activity, nine for the breach of disclosure duties, three for the breach of financial intermediation duties and another three for breach of market trading duties.
As for the decisions rendered between October and December, these were for very serious administrative infractions. Within the context of said decisions, two admonitions were issued and one warning notice was issued.
In the same period, four administrative infraction proceedings were instituted, whereof two related to the collective investment scheme activity, one to financial intermediation duties and the other pertained to auditor performance. In 2011, 28 administrative infraction proceedings were instituted.
During the fourth quarter, one case for the breach of market disclosure duties was decided in court, bringing the number of decided cases in 2011, to six.
At the end of 2011, 100 administrative infraction proceedings were underway at the CMVM - 32 for the breach of financial intermediation duties, 30 for the breach of market trading duties, 21 for the breach of disclosure duties, 15 on the collective investment scheme activity and two for auditor performance.
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Since 1st Jan |
4th Q |
Since 1st Jan |
4th Q |
Since 1st Jan |
4th Q
|
Since 1st Jan |
4th Q
|
Since 1st Jan |
4th Q |
Since 1st Jan |
4th Q |
Since 1st Jan |
4th Q
|
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The CMVM |
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|
|
|
|
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|
|
|
|
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|
|
|
|
1. Cases brought forward from previous quarters |
|
29 |
|
23 |
|
32 |
|
14 |
|
1 |
|
0 |
|
99 |
|
2. Cases instituted |
2 |
1 |
5 |
0 |
10 |
0 |
10 |
2 |
1 |
1 |
0 |
0 |
28 |
4 |
|
3. Cases investigated but not instituted |
0 |
0 |
1 |
0 |
1 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
2 |
0 |
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4. Cases decided |
3 |
0 |
9 |
2 |
3 |
0 |
9 |
1 |
0 |
0 |
0 |
0 |
24 |
3 |
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5. Cases
in progress |
|
30 |
|
21 |
|
32 |
|
15 |
|
2 |
|
0 |
|
100 |
|
The Courts |
|
|
|
|
|
|
|
|
|
|
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|
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6. Cases decided |
0 |
0 |
5 |
1 |
1 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
6 |
1 |
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