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Sri Lanka stock brokers, asked to have Rs100mn equity

Feb 05, 2017 10:30 AM GMT+0530 | 2 Comment(s)

ECONOMYNEXT - Sri Lanka's Securities and Exchange Commission has directed stock brokers and debt dealers trading on the Colombo Stock Exchange to have a minimum shareholder funds of 100 million rupees.

It also applies to dealers in debt. Primary dealers who are regulated by the Central Bank who deal in debt on the exchange are exempt.

The rules will come into effect from January 01, 2018.

Brokers that have suffered losses will have to top up their capital.


 


 

2 Comments

  1. sacre blieu February 06, 09:32 AM

    Once again, the stock market is experiencing ,virtually, a massacre of sorts with blood on the floor. Hardly any move to see justice done, as promised by the government and SEC, only an abandoning of responsibilities and enjoying the perks of office.

  2. sacre blieu February 06, 09:28 AM

    Appears to be a pittance. Is there no hope the market, other than such announcements which has hardly an impact. Have those in charge and responsible for the well been of a market that is considered to be a thermometer of the health of the economy, abandoned it.

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