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Starting a Company in Ecuador Just Got Easier, President Introduces New Securities Act

Article Summary:

Ecuadorian President Rafael Correa has announced that he will send to the Ecuadorian National Assembly a Securities Market Law, which will simplify the procedures for the creation of new companies and also diversify forms of financing for enterprises.

Photo Credit: El Tiempo

Original Article Text From El Tiempo via Google Translate :

Ships Securities Exchange Act of National Assembly

Today, President Correa announced that it will be sent shortly to the National Assembly a Securities Market Law, which will simplify the procedures in the creation of new companies and diversify forms of financing for enterprises.
“The only way of financing is not going to the bank and borrow money. You, if you have a good project, can sell shares and buy them are people who trust your project, that are capitalized, and then do the project based on distributed profits actions, but for that you need a stock market “said the Head of State. With the new legal framework will create a company electronically within 48 hours, which invigorate the market. “There Securities Market but does not work properly, we hope with the new Securities Act to promote the stock market,” said Correa.

Link to Original Article:

From El Tiempo

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