Proposed change will result the broker fee to be increased to 75 basis points from current 64.
They are also pushing the negotiable threshold to increase from 50 Mn to 75 Mn.
Also the minimum floor to 40 basis points from 20 basis points.
The proposals are approved by Colombo stock brokers association and submitted to SEC. With the connections they have, SEC will have a hard time saying NO to these proposals.
Our investors are already having a hard time with current market situation. And when markets are just about to recover, we might have to pay higher fees. Imagine the damage this will do to market Liquidity.
What are your thoughts? Is there anything we can do?