Study LXXVIII B - Principles and rules capable of enhancing trading in securities in emerging markets

     The second meeting of the Committee on Emerging Markets Issues, Follow-Up and Implementation, established by the diplomatic Conference to Adopt a Convention on Substantive Rules regarding Intermediated, was held in Rio de Janeiro (Brazil) on 27 and 28 March 2012. The first day of the meeting was devoted to a Colloquium on financial markets law which considered the actions taken by emerging markets to create a favourable environment for trading in intermediated securities and discussed how emerging markets have reacted to the financial crisis and which means are to be adopted to increase legal security and the investors’ protection. In the second day, Committee members and observers meeting examined the reception given to the 2009 Geneva Securities Convention in the various countries, in particular in emerging countries, were presented the Official Commentary on the 2009 Convention, considered legislative measures to implement the Convention and incorporate it in domestic law as well as concrete proposals for its promotion. It will also consider future work by Unidroit in the area of financial markets law.

The Committee on Emerging Markets Issues, Follow-Up and Implementation is co-chaired by Brazil and China. The members are: Argentina, Cameroon, Chile, France, Greece, India, Japan, Nigeria, Republic of Korea, South Africa, United States of America and the European Community. The observers are: Indonesia, European Central Bank, European Issuers, Hague Conference on Private International Law and Trade Association for the Emerging Markets. 

Specific website of the Brazilian Securities and Exchange Commission (CVIM) for the meeting agenda

The documents for the second meeting of the Committee on Emerging Markets Issues, Follow-Up and Implementation currently available are the following: 

Unidroit 2011 – S78B/CEM/2/Doc. 1 – Annotated provisional agenda

Unidroit 2011 – S78B/CEM/2/Doc. 2 –  Information for Contracting States in respect of the Convention’s references to sources of law outside the Convention

Unidroit 2012 – S78B/CEM/2/Inf. 1 –  Practical information for meeting participants

The report of the meeting will be posted on the UNIDROIT website in due time