Hello and welcome to podcast number 11! I am Alan Robert, and I am your host at English for Economists, the English podcast lessons for non-native English speakers who need to talk about the economy. Our topic today? Superintendencies.
VOCABULARY
Supervision: supervision is the act of supervising something or somebody.
Superintend: be responsible for the management or arrangement of an activity or organization. Related verbs are: supervise, oversee, conduct, manage, watch, administer, direct, govern, head, and run.
Superintendent: a person who manages or superintends an organization or activity.
Superintendency: the position or work of a superintendent.
Now, I would like to give you a possible example of a superintendence.
DISCUSSION
The Superintendency of the Securities Market (SMV) is a specialized technical body attached to the Ministry of Economy and Finance. Its purpose is to ensure the protection of investors, and the efficiency and transparency of the markets under its supervision. Even though it is attached to a ministry, it has administrative, economic, technical and budgetary autonomy.
The Superintendency of Securities Markets has various responsibilities. It is responsible for establishing the legal norms that regulate the stock market, and it supervises compliance with the legislation.
The Superintendency of Securities Markets SMV is also responsible for supervising compliance with international auditing.
Now, a superintendency of securities markets is just one of many types of superintendencies that exist today. Other common superintendencies might supervise, for example, pension funds, insurance companies, or service utilities like electricity or telecommunications. Superintendencies can fulfill many roles, and thanks to them, economies generally work better.
VOCABULARY REVIEW
Supervision: Supervision is the act of supervising something or somebody.
Superintend: be responsible for the management or arrangement of an activity or organization. Related verbs are: supervise, oversee, conduct, manage, watch, administer, direct, govern, head, and run.
Superintendent: a person who manages or superintends an organization or activity.
Superintendency: the position or work of a superintendent.
CONCLUSION
That is all for today. The “English for Economists” podcast is new, so this is a good time to share it with your friends and colleagues. Also, if you have any suggestions or comments, write to me at alan@englishforeconomists.com. I would very much enjoy hearing from you. So, until next time, this is Alan Robert at English for Economists, wishing you a fantastic day. Take care!
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