Garanțiile reale și piața de capital: între nevoia de celeritate și obsesia supravegherii totale
Security Interest and the Capital Market: Between the Need for Celerity and the Obsession for Total Surveillance

Summary/Abstract: The article offers some suggestions de lege ferenda for adjusting the secondary legislation in the field of the security interest concerning the financial instruments in the view of the New Civil Code, and also the supranational regulations in this field. Hence, the types of security interest specific to the capital market are analyzed in order to see the imperatives imposed by the principle of celerity and by the relations with the desire of market surveillance. Therefore, there are announced a few specific rules of security interest regarding the financial instruments through the current regulations. Hence, starting from the different levels of the current regulation and from their relations, we are trying to enounciate a few principles of a potential regulation in the field. It has been attempted to provide a unitary vision on the modality that the current regulation perceives the formation and the functioning of a certain security interest. We may draw the conclusion that there is, de lege lata, the legislative framework able to allow to issue de lege ferenda secundary and tertiary level regulations to streamline the procedures of formation, publicity and execution of security interests (even mortgage securities and financial guarantees) regarding financial intruments.

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