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Law 59 or the Cuban civil code is the legal body that regulates the main norms in legal matters such as Real Rights, Law of obligations, Contract law and inheritance law, in addition to the legal capacity of persons, natural and law, and some rules of Private International Law in the Republic of Cuba. [1]
The Securities Act of 1933 regulates the distribution of securities to public investors by creating registration and liability provisions to protect investors. With only a few exemptions, every security offering is required to be registered with the SEC by filing a registration statement that includes issuer history, business competition and material risks, litigation information, previous ...
In 1976, Cuba formally institutionalized the revolution with the adoption of a new constitution, which provided that the legal system be based on the principle of socialist legality. In constructing its legal system, Cuba looked to the countries of the Socialist Bloc for blueprints.
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A custodian bank, or simply custodian, is a specialized financial institution responsible for providing securities services. It provides post-trade services and solutions for asset owners (e.g. sovereign wealth funds, central banks, insurance companies), asset managers, banks and broker-dealers.
A central securities depository (CSD) is a specialized financial market infrastructure organization holding securities such as shares or bonds, either in certificated or uncertificated (dematerialized) form, allowing ownership to be easily transferred through a book entry rather than by a transfer of physical certificates.
Regulation AB consolidates and codifies existing interpretative, primarily client-specific, positions that clarify Securities Act of 1933 registration requirements for asset-backed securities offerings in the United States. Regulation AB: updates and clarifies the registration requirements for ABS offerings under the Securities Act;
The entity whose name is recorded as the legal owner of the securities is known as the "nominee owner," and that entity has ownership rights in the security. [1] The nominee owner holds those ownership rights on behalf of the true economic owner who is referred to as the beneficial owner .