O NEKIM PROPUSTIMA CRNOGORSKOG ZAKONA O HARTIJAMA OD VRIJEDNOSTI
SOME OF THE OMISSIONS OF THE MONTENEGRIN LAW ON SECURITIES

Summary/Abstract: The current economic crisis highlighted the importance of regulation of financial markets. In order to one market work effectively in one country it is necessary that there exist healthy regulation, also and the appropriate regulatory bodies created for this purpose, such as stock exchanges, broker-dealers, mutual funds, commissions for the securities and so on. These bodies must act in accordance with the relevant legislative acts. One of them is the Law on Securities, which was adopted in Montenegro 2000th year. In addition to high-quality solutions clearly provided, this law has some deficiencies which require modernisation and its amendment. The presentations in this paper represent an attempt of the author to illuminate shortcomings by the Law and to propose guidelines for its regulation and promotion practices and relationships in this important area of economic development in Montenegro, taking into account the principles on which modern and highly developed market economy are functioning.

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