The former CEO of Beka Values and founder of the securities agency, José Luis Blázquez, has filed an appeal for reversal for the revocation of the National Securities Market Commission (CNMV) to its authorization on December 22 for ” important discrepancies “among the shareholders. The holding company through which Blázquez owns 31.9% of Beka Values, Acqua, has requested in the appeal filed this Monday to annul the agreement and “cautionarily suspend” the effects of the revocation agreement while the appeal is resolved.
Likewise, request “to adopt the measures that the CNMV deems appropriate in accordance with the applicable regulations, such as intervention to ensure proper management of the company or temporary suspension of the activities, partial or total of the company, for the benefit of all participants of the current process, including official bodies, society, shareholders and clients of the same”.
Action against the CNMV
Blázquez explains in the appeal that the situation referred to by the CNMV is due to the paralysis of the company’s activity from the moment the CEO was dismissed “illegally” by “the majority shareholder ( Beka Finance), with the agreement of all its representatives both on the board of directors and at the shareholders’ meeting”.
The former CEO of Beka Values has added that if it had really come from the revocation of the authorization, this could have occurred much earlier as a result of the cessation of the company’s activity for “more than a year since it occurred the dismissal of the CEO and until the executive committee of the CNMV agrees to start the procedure for revocation of the authorization”, according to Europa Press.
“The CNMV should have taken prior actions”
“The CNMV should have previously taken several actions and/or decisions, among which it is worth mentioning deciding whether or not to open the ‘whistle blowing’ investigation pending resolution for more than six months for the facts denounced for a year, previously sanctioning society, intervene in it or temporarily suspend, partially or totally, the activities of Beka Values, as a warning before the hasty and anomalous decision to revoke”, argues Blázquez.