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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » New SEC Rule

New SEC Rule

+12
bmi
Hiru
duke
Soundchips
DK
econ
Aamiable
bettersrilanka
Rajitha
kam2011
xhora
Stock Predictor
16 posters

Go down  Message [Page 1 of 1]

1New SEC Rule Empty New SEC Rule Wed Jun 29, 2011 12:09 am

Stock Predictor

Stock Predictor
Stock Analytic
Stock Analytic

Buying power will limit to 40% from ur portfolio, Not 50%.
If you not Settle ur dues within 5 days, ur buying power become 0.

Intereseting , Small Traders are in danger !!!!!!!!!!!!!!!!
(Can big one as well, ha ha )
Is this true or rumor?

2New SEC Rule Empty Re: New SEC Rule Wed Jun 29, 2011 12:17 am

xhora

xhora
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Where did you get the news?
some people are talking about it but no official announcement.

But I wouldn't be much surprised it they impose a new rule out of the blue, given their previous track record.

3New SEC Rule Empty Re: Wed Jun 29, 2011 12:38 am

Stock Predictor

Stock Predictor
Stock Analytic
Stock Analytic

My broker told me, From Tuesday onwards...

Sooooooooo saaaaaaaad.

4New SEC Rule Empty Re: New SEC Rule Wed Jun 29, 2011 12:54 am

kam2011


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Stock Predictor wrote:Buying power will limit to 40% from ur portfolio, Not 50%.
If you not Settle ur dues within 5 days, ur buying power become 0.

Intereseting , Small Traders are in danger !!!!!!!!!!!!!!!!
(Can big one as well, ha ha )
Is this true or rumor?

If you have margin credit this problem doesnt arise.

5New SEC Rule Empty Re: New SEC Rule Wed Jun 29, 2011 1:20 am

Rajitha

Rajitha
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

I'm with Asha Phillips and they have never ever let you keep credit over t+5 anyway! The guy i'm with tells me if I have any credit on 5th day to clear and give a call by 2.20! If not they force sell in last 10 minutes!

6New SEC Rule Empty Re: New SEC Rule Wed Jun 29, 2011 1:25 am

bettersrilanka

bettersrilanka
Manager - Equity Analytics
Manager - Equity Analytics

without official announcement it is not advisable to talk about this.if any let us know. Arrow

http://lankafunpicture.blogspot.com

7New SEC Rule Empty Re: New SEC Rule Wed Jun 29, 2011 1:48 am

Aamiable


Vice President - Equity Analytics
Vice President - Equity Analytics

It is quite possible . ...Some have already experienced a similar situations , gathered from this site ......there were threds like no buying power for me

Surprised

8New SEC Rule Empty Re: New SEC Rule Wed Jun 29, 2011 2:32 am

econ

econ
Global Moderator

so what happen to brokers right to sell shares??
what is the meaning of just reducing buying power from 50% to 40% ?

9New SEC Rule Empty Re: New SEC Rule Wed Jun 29, 2011 5:48 am

DK


Manager - Equity Analytics
Manager - Equity Analytics

I am not sure of this, but I think the 50% buying power was always at broker's discretion. I think SEC decided that this too is 'dangerous'.

To address Econ's question, I think broker's right to sell shares is still there. (BEcause it is a private contract between the broker and the client). However knowing Colombo, SEC may say that 'Buying power will be brought down to 40% and brokers cannot force sell' Smile

10New SEC Rule Empty Re: New SEC Rule Wed Jun 29, 2011 8:01 am

Soundchips


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Then it is very difficult to buy a share at the beginning… unfair. …all these restrictions for small scale short term investors…

11New SEC Rule Empty Re: New SEC Rule Wed Jun 29, 2011 8:36 am

duke


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Great decision if they implement.

If you don't allow force sell what do you expect them to do? If you buy you have to pay. If you don't pay they have to take it back. Is it that hard to understand?

12New SEC Rule Empty Re: New SEC Rule Wed Jun 29, 2011 8:37 am

Hiru


Manager - Equity Analytics
Manager - Equity Analytics

If market is going down and any rules are common to all, i think purchases should be allowed only to cash deposited with brokers because all investors then can keep their holdings until market start recovery.

13New SEC Rule Empty Re: New SEC Rule Wed Jun 29, 2011 8:57 am

Soundchips


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Hiru wrote:If market is going down and any rules are common to all, i think purchases should be allowed only to cash deposited with brokers because all investors then can keep their holdings until market start recovery.

Does it mean only medium term investments work in the CSE? Question

14New SEC Rule Empty Re: New SEC Rule Wed Jun 29, 2011 9:14 am

Hiru


Manager - Equity Analytics
Manager - Equity Analytics

Soundchips wrote:
Hiru wrote:If market is going down and any rules are common to all, i think purchases should be allowed only to cash deposited with brokers because all investors then can keep their holdings until market start recovery.

Does it mean only medium term investments work in the CSE? Question

I have no idea about the length of the issue. I intended that people can stop digging their existing holes if they do not use credit because there is no force selling and result will be the decreasing rate of market going down

15New SEC Rule Empty Re: New SEC Rule Wed Jun 29, 2011 9:18 am

bmi


Senior Equity Analytic
Senior Equity Analytic

I don't do on credit or margin

16New SEC Rule Empty Re: New SEC Rule Wed Jun 29, 2011 9:22 am

duke


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

fundamental stocks have to come down to about half the current price today or they have to double the profits. In the last few quarters many fundamentally strong companies sold off lots of things to make massive profits. They won't be able to do that every quarter.

17New SEC Rule Empty Re: New SEC Rule Wed Jun 29, 2011 9:34 am

Soundchips


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

not many investors sell with losses. force selling is not applicable to those who settle in time. those stocks survive..

18New SEC Rule Empty Re: New SEC Rule Wed Jun 29, 2011 8:44 pm

rijayasooriya

rijayasooriya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Rajitha wrote:I'm with Asha Phillips and they have never ever let you keep credit over t+5 anyway! The guy i'm with tells me if I have any credit on 5th day to clear and give a call by 2.20! If not they force sell in last 10 minutes!
I think friend U better transfer ur PF to another,at least some what client freindly broker company.

19New SEC Rule Empty Re: New SEC Rule Wed Jun 29, 2011 9:24 pm

Tiger

Tiger
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Though its still a rumor I think its quiet possible, this is something I have been expecting from SEC.

20New SEC Rule Empty Re: New SEC Rule Wed Jun 29, 2011 10:03 pm

ShareShares


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Then there is less room for bubble formation, what ever the market recovery would be on actual funds and sustainable. I look for shares with actual growth.

21New SEC Rule Empty Re: New SEC Rule Wed Jun 29, 2011 10:52 pm

pushpakumara


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

If someone buys a share he or she will have to pay for it. The extent of the period is T+5. (It is upto the relevant authorities to see whether this period is adequate.)The next step is to collect the monies within the stipulated period and there should be a right mechanism to do this. As far as monies are collected within the set period of time, then there is no need for reduction of broker credit to 40% .

If this is true, can not understand the logic behind 10% reduction insted of going for a total ban of credit from brokers.If it is a total ban, it will not be in favour of brokers, as giving credit increases their business volumes and lose interest on credits granted to clients.

Anyway Looking forward to see the truth of this finding.

22New SEC Rule Empty Re: New SEC Rule Wed Jun 29, 2011 11:03 pm

Tiger

Tiger
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

pushpakumara wrote:If someone buys a share he or she will have to pay for it. The extent of the period is T+5. (It is upto the relevant authorities to see whether this period is adequate.)The next step is to collect the monies within the stipulated period and there should be a right mechanism to do this. As far as monies are collected within the set period of time, then there is no need for reduction of broker credit to 40% .

If this is true, can not understand the logic behind 10% reduction insted of going for a total ban of credit from brokers.If it is a total ban, it will not be in favour of brokers, as giving credit increases their business volumes and lose interest on credits granted to clients.

Anyway Looking forward to see the truth of this finding.

T+5 is only one side of Equation what about the seller side? Some one who sell should get the money for it? if this is going to be extended, lets say T+30, seller will have to wait for 30days to collect his money. Would you accept that?

23New SEC Rule Empty Re: New SEC Rule Wed Jun 29, 2011 11:27 pm

pushpakumara


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Tiger wrote:
pushpakumara wrote:If someone buys a share he or she will have to pay for it. The extent of the period is T+5. (It is upto the relevant authorities to see whether this period is adequate.)The next step is to collect the monies within the stipulated period and there should be a right mechanism to do this. As far as monies are collected within the set period of time, then there is no need for reduction of broker credit to 40% .

If this is true, can not understand the logic behind 10% reduction insted of going for a total ban of credit from brokers.If it is a total ban, it will not be in favour of brokers, as giving credit increases their business volumes and lose interest on credits granted to clients.

Anyway Looking forward to see the truth of this finding.

T+5 is only one side of Equation what about the seller side? Some one who sell should get the money for it? if this is going to be extended, lets say T+30, seller will have to wait for 30days to collect his money. Would you accept that?

Quite agreed Tiger. I was thinking of a reasonable time frame T+7 to T+10 and not beyond that. This is ofcourse a seperate item to be discussed.

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