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.