O dever de comunicação de participações qualificadas numa cadeia de titularidade indireta de valores mobiliários

• Autor(a) principal: Coelho, Pedro Miguel Roque
• Data de Publicação: 2018
• Tipo de documento: Dissertação
• Idioma: por
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: http://hdl.handle.net/10362/54955
• topic: cadeia de titularidade indireta de valores mobiliários; titularidade indireta de valores mobiliários; participações qualificadas; direitos de voto; princípio da transparência; mandato sem representação; contrato de gestão de carteiras; indirect holding of securities chain; indirect holding of securities; major holdings; vote rights; principle of transparency; mandate without representation; portfolio management agreement; Direito

The emergence of the indirect holding of securities and the inherent chains resulted from the dematerialization of the securities that was imposed by the use of the paper cease to be, at a given moment, sustainable. As dematerialization emerged as a practical response to the limitations of the market due to the paperwork crunch, it was not immediately followed up by the law, which has so far remained a matter to some extent unexplored - and fertile on issues to be resolved. What was sought in the present dissertation was precisely to solve two of these questions. On the one hand, a chain of indirect holding of securities was devised with the purpose of legally framing each of the relationships that were developed in it, theorizing what rights - and against whom they can be exercised - has the beneficial owner. On the other hand, an attempt has been made to offer a solution to make indirect holding - and consequently the capital markets in general - more transparent, directly, through the study of the applicability of the obligation to disclose major holdings to each of the members of an indirect holding securities chain and, indirectly, through the blockchain.