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titulos y valores mobiliarios

English translation: marketable/negotiable securities

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:titulos y valores mobiliarios
English translation:marketable/negotiable securities
Entered by: Rebecca Jowers
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08:17 Feb 16, 2009
Spanish to English translations [PRO]
Bus/Financial - Business/Commerce (general) / Articles of Association
Spanish term or phrase: titulos y valores mobiliarios
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
reubenius
United Kingdom
Local time: 18:54
marketable/negotiable securities
Explanation:
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)
--------------------------------------------------

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.
Selected response from:

Rebecca Jowers
Spain
Local time: 19:54
Grading comment
Thank you.
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +7marketable/negotiable securitiesRebecca Jowers
4personalty shares and assets
argosys


  

Answers


1 hr   confidence: Answerer confidence 5/5 peer agreement (net): +7
marketable/negotiable securities


Explanation:
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.


--------------------------------------------------
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.

Rebecca Jowers
Spain
Local time: 19:54
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 282
Grading comment
Thank you.

Peer comments on this answer (and responses from the answerer)
agree  Margarita Ezquerra (Smart Translators, S.L.)
4 mins
  -> Muchas gracias, Smartranslators

agree  wordgirl: tend to agree on this one (for what it's worth, Italian wording is identical)
8 mins
  -> Thanks wordgirl, and, yes, this type of "proviso" is fairly common

neutral  argosys: By definition, marketable securities are listed securities. What about those securities that are held in its porfolio and not marketable because not quoted?
2 hrs
  -> Interesting point. For lack of space here I will post an additional comment.

agree  María Eugenia Wachtendorff
3 hrs
  -> Gracias, María Eugenia

agree  MikeGarcia: Agrí, agrí and agrí....
4 hrs
  -> Muchas gracias, Miguel

agree  Louise Souter
6 hrs
  -> Gracias, Louise

agree  eski: CMVM - Securities Market Commission - [ Traducir esta página ]CMVM - Comissão do Mercado de Valores Mobiliários. Headquarters Av. Liberdade n.º 252 1056-801 LISBOA, Oporto Delegation Rua Dr. Alfredo Magalhães, 8 - 5º ...Saludos :))
15 hrs
  -> Gracias eski

agree  Clayton Causey
15 hrs
  -> Gracias Clayton
Login to enter a peer comment (or grade)

1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
personalty shares and assets


Explanation:
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


--------------------------------------------------
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?

argosys
Local time: 01:54
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 64
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Changes made by editors
Feb 20, 2009 - Changes made by Rebecca Jowers:
Created KOG entryKudoZ term » KOG term


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