The institution is responsible for ensuring market transparency by monitoring the dissemination of public information to investors and the general public to ensure markets function properly. The SVS is under direct supervision of the Ministry of Finance.
In addition to market transparency, the SVS is responsible for ensuring compliance with the rules governing market operation and for overseeing the actions of market participants as well as establishing penalties in the event of violations of the legal framework.
The SVS has four functions: oversee the market, which implies controlling and monitoring compliance with laws, regulations and administrative rules. Additionally, it must regulate the market and institutions that comprise it, establishing the regulatory framework for the market. The SVS also serves a punitive function in the event of a breach or violation of the regulatory framework as a result of an investigation. Lastly, it is responsible for developing and promoting the market through the creation and distribution of new products and tools.
SVS´s main functions
- The SVS is responsible for receiving and delivering Material Events that contain relevant information from the entities it oversees.
- The institution serves supervisory, regulatory and punitive functions and oversees market development and promotion.