Behavior of the Sanctioning Process in the Stock Market from the Organic Administrative Code

Abstract

The issuance of the Organic Administrative Code (COA) is helded with the intention of establis a common administrative procedure to determine the responsibles in order to give the Public Administration the power to  impose sanctions; the  process was regulated before by different laws in the Ecuadorian legal system. For this reason, this document expose the tendencies of the administrative procedure established by the COA, and if it has been useful to keep the coverage level and celerity  in the imposition of sanctions by the Superintendencia de Compañías, Valores y Seguros in the field of the Ecuadorian stock market; from information collected in the annual reports presented by the control entity during the years of 2017 to 2021. The found data demonstrates the need of a particular and specific administrative procedure for the referred Superintendencia, which allows for its control processes to be carried out in an agile and transparent manner to the entities that have transgressed the provisions that regulate the stock market and to apply the necessary sanctions guaranteeing the due right to defense of the accused.