Glossary entry (derived from question below)
Spanish term or phrase:
titulos y valores mobiliarios
English translation:
marketable/negotiable securities
Added to glossary by
Rebecca Jowers
Feb 16, 2009 08:17
15 yrs ago
58 viewers *
Spanish term
titulos y valores mobiliarios
Spanish to English
Bus/Financial
Business/Commerce (general)
Articles of Association
This is the purpose of the company:
1. La adquisición por cualquier título de fincas rústicas o urbanas, la construcción de estas etc etc
2. adquisición, (...) en general de toda clase de títulos y valores mobiliarios, cotizados en Bolsa o no, sin incidir en las operaciones a que se refiere la Ley de Inversiones Colectivas ni en la Ley del Mercado de Valores,
I may be missing something obvious, but how can they be buying and selling shares without involvement in the operations set out in the laws above? Are they real estate-related shares rather than shares in general?
TIA
1. La adquisición por cualquier título de fincas rústicas o urbanas, la construcción de estas etc etc
2. adquisición, (...) en general de toda clase de títulos y valores mobiliarios, cotizados en Bolsa o no, sin incidir en las operaciones a que se refiere la Ley de Inversiones Colectivas ni en la Ley del Mercado de Valores,
I may be missing something obvious, but how can they be buying and selling shares without involvement in the operations set out in the laws above? Are they real estate-related shares rather than shares in general?
TIA
Proposed translations
(English)
| 5 +7 | marketable/negotiable securities |
Rebecca Jowers
|
| 4 | personalty shares and assets |
argosys
|
Change log
Feb 20, 2009 06:28: Rebecca Jowers Created KOG entry
Proposed translations
+7
1 hr
Rebecca Jowers
Spain
Spain
Native in English
Works in field
Spain
30 yrs experience legal-commercial
Native in: English 
Works in: English to Spanish, Spanish to English
Related KudoZ points
:
306
Selected
marketable/negotiable securities
I do not believe that this text refers specifically to "real-estate related shares." This is standard wording in many "corporate purpose" or "objects" clauses in Spain, and I believe it merely indicates that one of the company's objects allows the company to acquire and otherwise deal in and dispose of marketable securities, while underscoring that the company does not intend to qualify as or engage in the activities of "instituciones de inversión colectiva" set forth in Ley 46/1984 or the "agencias y sociedades de valores" provided for in the "Ley de Mercado de Valores". That is, I believe, the meaning of "sin incidir en".
You will find this same expression in the objects clauses of other Spanish corporations.
LA COMPRA Y VENTA DE VALORES MOBILIARIOS POR CUENTA PROPIA SIN INCIDIR EN LAS ACTIVIDADES PROPIAS DE LAS INSTITUCIONES DE INVERSION CO LECTIVA O REGULADAS ...
www.informacion-empresas.com/Empresa_ARMAN-GALIS.html
SIN INCIDIR EN LAS OPERACIONES REGULADAS POR LA LEY DEL MERCADO DE VALORES 24/1988, ... Servicios de compra-venta,contratacion de valores mobiliarios. ...
www.einforma.com/servlet/app/prod/.../AGROFORESTAL-LAS-COLO...
negociación de toda clase de títulos y valores mobiliarios, cotizados en Bolsa o no, sin incidir en las operaciones a que se refiere la Ley 35/2003, ...
www.borsabcn.es/bolsabcn/bsoccote.nsf/vweb/.../$file/CONVOCATORIA%20JUNTA%2016-11-2007.PDF
etc.
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Note added at 4 hrs (2009-02-16 12:58:31 GMT)
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To address argosys's comment:
Yes, perhaps the expression could be translated simply as "securities", since the text reads "whether listed or not" ("cotizados en bolsa o no"). But what this does not refer to is "valores INmobiliarios", i.e., real estate (bienes inmuebles) or "chattels, personal property, personalty" (bienes muebles). The word "mobiliario" as used in Spain in the expression "valores mobiliarios" does not refer to "bienes muebles" (personal property, personalty, chattels), but rather corresponds to what are generically called "securities" in English. Here is a definition from the Diccionario Jurídico Aranzadi, 2004:
Valores mobiliarios--Instrumentos de inversión emitidos en masa. Pueden estar respresentados mediante título o mediante anotación en cuenta. Se regulan fundamentalmente en la Ley de Sociedades Anónimas (acciones, obligaciones) y en la Ley del Mercado de Valores (valores representados mediante anotaciones en cuenta). Susceptibles de ser negociados en mercados estandarizados. Se denominan también valores negociables.
Likewise, here are definitions of "valores mobiliarios" and "valores inmobiliarios" as used in Spain, taken from a Banesto Broker brochure describing different types of investment funds available here:
Fondos de Inversión Mobiliaria--Invierten tanto en acciones como en títulos de renta fija (bonos, obligaciones), sin ninguna limitación en cuanto a plazo de vencimiento de los valores, siempre que dichos títulos coticen y se negocien en mercados organizados.
Fondos de Inversión Inmobiliaria--Fondos de Inversión que invierten exclusivamente en el sector inmobiliario: viviendas, oficinas y locales comerciales.
In other respects, I do not understand how the passage to be translated can be interepreted to imply that the newly-incoporated company "intends to invest in companies engaged in the production and/or commerce of movable assets such as furniture, motor vehicles, jewelry, and the like", as argosys indicates.
You will find this same expression in the objects clauses of other Spanish corporations.
LA COMPRA Y VENTA DE VALORES MOBILIARIOS POR CUENTA PROPIA SIN INCIDIR EN LAS ACTIVIDADES PROPIAS DE LAS INSTITUCIONES DE INVERSION CO LECTIVA O REGULADAS ...
www.informacion-empresas.com/Empresa_ARMAN-GALIS.html
SIN INCIDIR EN LAS OPERACIONES REGULADAS POR LA LEY DEL MERCADO DE VALORES 24/1988, ... Servicios de compra-venta,contratacion de valores mobiliarios. ...
www.einforma.com/servlet/app/prod/.../AGROFORESTAL-LAS-COLO...
negociación de toda clase de títulos y valores mobiliarios, cotizados en Bolsa o no, sin incidir en las operaciones a que se refiere la Ley 35/2003, ...
www.borsabcn.es/bolsabcn/bsoccote.nsf/vweb/.../$file/CONVOCATORIA%20JUNTA%2016-11-2007.PDF
etc.
--------------------------------------------------
Note added at 4 hrs (2009-02-16 12:58:31 GMT)
--------------------------------------------------
To address argosys's comment:
Yes, perhaps the expression could be translated simply as "securities", since the text reads "whether listed or not" ("cotizados en bolsa o no"). But what this does not refer to is "valores INmobiliarios", i.e., real estate (bienes inmuebles) or "chattels, personal property, personalty" (bienes muebles). The word "mobiliario" as used in Spain in the expression "valores mobiliarios" does not refer to "bienes muebles" (personal property, personalty, chattels), but rather corresponds to what are generically called "securities" in English. Here is a definition from the Diccionario Jurídico Aranzadi, 2004:
Valores mobiliarios--Instrumentos de inversión emitidos en masa. Pueden estar respresentados mediante título o mediante anotación en cuenta. Se regulan fundamentalmente en la Ley de Sociedades Anónimas (acciones, obligaciones) y en la Ley del Mercado de Valores (valores representados mediante anotaciones en cuenta). Susceptibles de ser negociados en mercados estandarizados. Se denominan también valores negociables.
Likewise, here are definitions of "valores mobiliarios" and "valores inmobiliarios" as used in Spain, taken from a Banesto Broker brochure describing different types of investment funds available here:
Fondos de Inversión Mobiliaria--Invierten tanto en acciones como en títulos de renta fija (bonos, obligaciones), sin ninguna limitación en cuanto a plazo de vencimiento de los valores, siempre que dichos títulos coticen y se negocien en mercados organizados.
Fondos de Inversión Inmobiliaria--Fondos de Inversión que invierten exclusivamente en el sector inmobiliario: viviendas, oficinas y locales comerciales.
In other respects, I do not understand how the passage to be translated can be interepreted to imply that the newly-incoporated company "intends to invest in companies engaged in the production and/or commerce of movable assets such as furniture, motor vehicles, jewelry, and the like", as argosys indicates.
4 KudoZ points awarded for this answer.
Comment: "Thank you."
1 hr
personalty shares and assets
mobiliarios are chattels or personal property, as distinguished from inmobiliarios or real estate property. The company intends to invest in companies engaged in the production and/or commerce of movable assets such as furniture, motor vehicles, jewelry, and the like - whether such are listed in the Exchange or not - without involvement in the business operations.
Real Estate Dictionary: Chattel
Personal property. Anything owned and tangible, other than real estate.
Examples: Furniture, automobiles, and jewelry
Law. An article of movable personal property.
Also termed personalty;
(Law) Personal property, as distinguished from realty or real property.
Middle English chatel, movable property, from Old French, from Medieval Latin capitāle.
http://www.answers.com/chattel
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Note added at 4 hrs (2009-02-16 12:59:29 GMT)
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In the first part, the firm intends to acquire agricultural and urban landed properties. In the second item, germane to the first, it plans to acquire "movable" assets shares or securities, whether quoted/traded in the bourses or not. By definition, marketable securities are quoted/listed securities. What about those securities that are held in its porfolio and not listed, thus not marketable?
Real Estate Dictionary: Chattel
Personal property. Anything owned and tangible, other than real estate.
Examples: Furniture, automobiles, and jewelry
Law. An article of movable personal property.
Also termed personalty;
(Law) Personal property, as distinguished from realty or real property.
Middle English chatel, movable property, from Old French, from Medieval Latin capitāle.
http://www.answers.com/chattel
--------------------------------------------------
Note added at 4 hrs (2009-02-16 12:59:29 GMT)
--------------------------------------------------
In the first part, the firm intends to acquire agricultural and urban landed properties. In the second item, germane to the first, it plans to acquire "movable" assets shares or securities, whether quoted/traded in the bourses or not. By definition, marketable securities are quoted/listed securities. What about those securities that are held in its porfolio and not listed, thus not marketable?
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