The paper crisis. The dematerialization of securities and the appearance of annotations

Abstract

The theme of the dematerialization of securities and the appearance of annotations in our midst is one of the most novel, given its recent regulation in the Costa Rican legal framework. However, it is also an issue little known to many of the colleagues who are outside the financial and stock fields. This research work aims to give a global idea about the dematerialization, or loss of cartular support and the corresponding substitution by notes in mind, thanks to advances in computer science, both at the doctrinal level and at the legal-legal level. Dematerialization seeks to give greater agility, efficiency, safety and cost reduction to the Costa Rican stock market, in order to achieve a better development of it. While it is true, our country, until a few years ago, is taking the first steps in relation to the phenomenon of dematerialization, in most European countries, this phenomenon had emerged since the seventies and eighties, taking us great advantage in it and setting an example today. It is important to emphasize the fact that securities will continue to exist within common business relationships and to emphasize that dematerialization occurs in the stock market sphere, given the constant mobilization of large numbers of securities in such transactions, which makes it necessary to search for a system; to replace this mobilization of huge amounts of paper with accounting annotations, providing agility and efficiency to them.