Rule Changed Again...

The SEC has granted further relief in respect of broker credit. Broker to clear 25% remaining debtors by 30th sep and balance 25% by 31st Dec - SEC-
-adaderana.lk -

tinyman wrote:The SEC has granted further relief in respect of broker credit. Briker to clear 25% remaining debtors by 30th sep and balance 25% by 31st Dec - SEC-
-adaderana.lk -

Shit...SEC is killing the market...now the Down turn & RED days will be there till December...!

tinyman wrote:The SEC has granted further relief in respect of broker credit. Briker to clear 25% remaining debtors by 30th sep and balance 25% by 31st Dec - SEC-
-adaderana.lk -

@tinyMan - Thanks for the news update. Still no update on the CSE site.

milanka wrote:

tinyman wrote:The SEC has granted further relief in respect of broker credit. Briker to clear 25% remaining debtors by 30th sep and balance 25% by 31st Dec - SEC-
-adaderana.lk -

@tinyMan - Thanks for the news update. Still no update on the CSE site.

just like the GREG warrant announcement, media take the lead..

So there isn't a deadline by June? I think September and December are better deadlines. It gives enough time for the brokers to address credit clearing issues with the clients in a way that serves the investor best.

tinyman wrote:The SEC has granted further relief in respect of broker credit. Briker to clear 25% remaining debtors by 30th sep and balance 25% by 31st Dec - SEC-
-adaderana.lk -

Thanks for the news tinyman :-)

This is the source - http://www.adaderana.lk/news.php?nid=13286

There you go..

SEC Directive - Debtor Balances
http://www.cse.lk/cmt/upload_cse_announcements/4471305790255_.pdf

http://www.lbo.lk/fullstory.php?nid=1203581963

CSE Today wrote:

tinyman wrote:The SEC has granted further relief in respect of broker credit. Briker to clear 25% remaining debtors by 30th sep and balance 25% by 31st Dec - SEC-
-adaderana.lk -

Shit...SEC is killing the market...now the Down turn & RED days will be there till December...!

Y you think so.. I hope this would bring some good hopes to the CSE..
The bad side I see is, some ppl may have already sold their stocks with losses... Obviously they will get angry with this decision.

manike100 wrote:

CSE Today wrote:

tinyman wrote:The SEC has granted further relief in respect of broker credit. Briker to clear 25% remaining debtors by 30th sep and balance 25% by 31st Dec - SEC-
-adaderana.lk -

Shit...SEC is killing the market...now the Down turn & RED days will be there till December...!

Y you think so.. I hope this would bring some good hopes to the CSE..
The bad side I see is, some ppl may have already sold their stocks with losses... Obviously they will get angry with this decision.

SEC has not changed the T+5 rule, they have extended the 50% clearing dead line further 6 months in 2 installments of 25% each...so there will not be much effect on the RED market as we witnessed weekly..ups & downs,

The real effect of clearing debt was seen only in mid to end of March 2011 and it was a terrible RED days..& the Mkt still struggle to recover from that March down fall, we were expecting to clear the whole credit crisis by JUNE either even going to the bottoms of ASI & MPI..then there in after can start a new life from "0" level instead of (-) credit, and if this was done, we have no fears of credit clearing sales in the future...but now ...what..? we ..again have to face March like situations in September & December... that's why I said this act will not benefit the retailers or new investors at any angle...!

Share prices also go up and down, don’t know whether they change again. Most unpredictable!

ShareShares wrote:Share prices also go up and down, don’t know whether they change again. Most unpredictable!

See my posting under Stock Market Head Lines.
I think there is something in these sudden changes.

history repeats again, and again. same set of suckers rushing to offer their cash to the big guns.
what this means is that now the market and stock brokers always have an excuse when the market stagnates or goes downwards until this December. they may again extend if they couldn't find another excuse. if the credit clearing period was not extended after June nobody can say this is because the credit clearing. it feels just like the last December 1st. caveat emptor. (search google)

The ones who were dumping shares like it's the end of the world for past few weeks have returned buying em back like crazy,, check poultry in the last trading hours Market just need the credit!

godswen wrote:The ones who were dumping shares like it's the end of the world for past few weeks have returned buying em back like crazy,, check poultry in the last trading hours Market just need the credit!

saved by the credit

duke wrote:history repeats again, and again. same set of suckers rushing to offer their cash to the big guns.
what this means is that now the market and stock brokers always have an excuse when the market stagnates or goes downwards until this December. for the moment, they may again extend if they couldn't find another excuse. if the credit clearing period was not extended after June nobody can say this is because the credit clearing. it feels just like the last December 1st. caveat emptor. (search google)

BTW.. Why they (Brokers or any other) need to have an excuses...? after the 31st March, we had red times without excuses, or proper explanation. I think it is natural, we cant have green time everyday.

And why do you think, we will have red time until next Dec.. ?
T+3 law was imposed from the beginning of 2011. So creditors had 3 months of time to clear 50% of it.. And also it was good enough GREEN time in CSE..
I cant imagine, why those ppl did not get it clear..
May be they keep it with a risk to have more and more profit..
Or may be they didn't had a considerable profit after paying interest, even though the share price went up.
Or may be they even do not monitor their portfolio, which is impossible

Anyhow with the new extended period, I expect they will get a chance to clear them out, without bringing radical changes to the market. If they do not, not only them will suffer from this

duke wrote:

godswen wrote:The ones who were dumping shares like it's the end of the world for past few weeks have returned buying em back like crazy,, check poultry in the last trading hours Market just need the credit!

saved by the credit

Yes, That's how it should be! Market is saved by the credit!

CSE is playing with small investors like us.. i sold many shares at loss and now there are saying the clearance is postponed.. shame on u CSE...

CSE is playing with small investors like us.. i sold many shares at loss and now there are saying the clearance is postponed.. shame on u CSE...

If the credit clearance is good CSE is due to relax rules further.

This piece of news article does not have any relevance to low abiding investors who settle their dues on time. Then for whom this announcement is for? The saga is to continue and the length of time for market correction too will be slowed down.