The legal framework of the securities market in Venezuela consists of a series laws that regulate the public offering of securities. Among them we can mention the following:

Capital Market Law: Promulgated by the President of the Republic and published in the Official Gazette of the Republic of Venezuela N° 36.565, on October 22, 1998. Regulates the public offer shares and other medium and long term securities, as well as the exchanges, intermediaries and other entities behavior.

Central Depositary of Securities Law: It estabishes the regulatory framework for the securities deposit and custody services, in which, by means of consequence, the physical inmobilization of the aforementioned securities is facilitaded. Effective since August 13, 1996. Official Gazette of the Republic of Venezuela N° 36.020.

Collective Investment Entities Law: The general objective of this Law is to foster the development of Venezuela’s capital market, through the design and creation of collective investment companies, as an incentive to convert savings into productive investments, to chanalize savings towards productive investment. This law came into effect on August 22, 1996. Official Gazette of the Republic of Venezuela N° 36.027.

Special Law of Organic Character: It authorizes the National Executive to make operations of public credit destined to refinance external public debt. Published on the Official Gazette of the Republic of Venezuela N° 34.558, September 21, 1990, as well as the Decree No.1.317, by means of which it is proceeded the emission of National Public Debt Bonds, denominated "Par Bonds", by a equivalent amount to seven thousand four hundred ninety millions of US dollars, published on the Official Gazette of the Republic of Venezuela N° 34.607, December 3, 1990.

Law of the Central Bank of Venezuela: Published on the Official Gazette of the Republic of Venezuela N° 35.106, December 4, 1992. It contains norms that affect the negotiation of securities in the venezuelan capital market.

Retention by Income Revenue Law: Along with it's Partial Regulation over Retentions Matter, concerned over burdens of enrichment or gross income originated on operations carried out in the capital market.