Since last year, authorities have been analyzing financial market regulations that support the creation of the framework and its use for small businesses.
The delay, they say, is because they want to analyze every aspect of it, especially with regard to the risks, believing it could its use could become popularised among investors that do not meet the profile.
Representatives of the private financial sector consider that the framework is not for mass consumption, and the professionalism and experience of financial market participants would be the support for appropriate use of the framework.
An article in La Nacion states: "Venture capital is covered by the National Entrepreneurship Policy, however, the Ministry of Economy will put primary emphasis on seed capital.
However, venture capital does operate, but under a specialized profile and private supply. "Those engaged in it, have done so the right way," said José Luis Arce, director of the National Council of Financial Supervision. "
Meanwhile, the National Investment Funds Company intends to use the framework of venture capital and collective portfolios to complement the Banking Development System.
Víctor Chacón, executive director of the Chamber, said the group are fully aware that these portfolios are not for mass consumption, but for professionals with sophisticated profiles.
The proposal from the pool is to use these capital contributions to jump-start businesses, before they take out loans from the Development Bank. "
Source: Nacion.com
More on this topic
February 2010
The Securities Commission (Sugeval), is preparing regulation to enable venture capital funds to conduct public offerings.
In Costa Rica there are several venture capital funds, but they are private and cannot perform public offerings. The regulation to allow them to do it could be ready in a couple of weeks.
November 2010
A court decision removed the obligation to collect commission on early fund recovery or to enforce minimum periods of investment for those funds.
The measure had been adopted by the Supervisory Board of the Financial System (CONASSIF), amending the General Rules on Mutual Funds Investment to prevent investors without the appropriate profile from entering into long-term funds.
November 2011
The primary objective of this scheme is the temporary investment in private bonds of recommended companies, which have not been registered on a stock market over the past five years.
Costa Rica’s National Council of Financial System Supervision approved the regulations covering the operation of the long-awaited Venture Capital Funds.
November 2011
The regulations for the investment of venture capital funds, which were recently published by the Superintendency of Securities, have generated positive expectations from market participants.
Although there are differences of opinion, most experts in the field feel the addendum to the regulation of investment funds covers all the minimum elements that must be detailed in an instrument of this nature.
español
1876
