A regulação pela informação no mercado de valores mobiliários
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Data
2015
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Resumo
The capital market within the financial system is considered to be an instrument capable of defining and raising the efficiency of the allocation of goods and funds between savers and investors in a society. Nevertheless, the market is subject to failures demanding, therefore, State intervention in order to rectify such failures. Among the common failures presented in the securities market stands out information asymmetry that basically consists of the absence of the entire information for all the agents that take part in the capital market. In this case, the State has elected the mandatory disclosure regime to guide and regulate the securities market aiming to rectify such information asymmetry, it being the model currently adopted by many countries. Therefore it is important to understand the reasons for which the State initially intervened in the markets through regulation and the reasons which led the State to adopt the mandatory disclosure regime as the cornerstone of the securities market, verifying the positive and negative aspects that justify such a regime
Descrição
Trabalho apresentado no XXIV Congresso do CONPEDI sob o tema 'Direito e Política: da Vulnerabilidade à Sustentabilidade' ocorreu entre os dias 11 e 14 e novembro de 2015, na cidade de Belo Horizonte, Minas Gerais.