The industry had total assets of Rs. 13.2 billion last year, up 105% from Rs. 6.43 billion in 2009 while total liabilities at nearly Rs. 7 billion were up 82% from Rs. 3.83 billion the previous year.
These figures have been elicited from unaudited financial statements filed with the SEC by the stock broking. Individual broker performances have, however, not been published.
A total of 26 stock broking companies were in business during the year as well as two stock dealers in equity securities, three in debt securities, six companies managing unit trusts, 18 investment managers, 23 margin providers, 10 underwriters and two credit rating agencies.
The SEC reported that one stock broking company was ``cautioned’’ about a complaint made by a client in respect of the manner in which trades have been carried out in the client’s account.
``The company was cautioned to exercise due care and diligence in conducting trades on behalf of its clients and to desist in the future from engaging in business practices which would appear to the Commission to be oppressive or otherwise improper or reflect discredit on methods adopted by the company in conducting business,’’ the report said without identifying the company concerned.
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