Another Meeting Tomorrow????

Ransiri Silva · 1 Another Meeting Tomorrow???? Wed Jul 27, 2011 9:25 am

Ransiri Silva

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My broker said that there will be another meeting tomorrow between SEC & CSE on T+5. This is just a news and no idea about the output. Do you have any idea???

duke · 2 Re: Another Meeting Tomorrow???? Wed Jul 27, 2011 9:35 am

duke

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Yes it was in the newspaper articles. Your broker must have read the newspapers. Smile

Hope they changed it to T+3. These extra two days make people more stupid.
What the SEC should do is order the brokers not to give more credit/buyin power if the customer did not pay the dues and if the broker had to force sell. Then customer should first show the money to buy more. This is how it should be. This will stop chain reaction. Now what happens is that greedy brokers force sell when the deadlines of credit reports must be sent to the SEC. After that these greedy brokers again let these defaulted customers buy back on credit. That is why this will become a cycle. This is the fault of the brokers. SEC should do a sort of random checks daily on the brokers.

Soundchips · 3 Re: Another Meeting Tomorrow???? Wed Jul 27, 2011 9:43 am

Soundchips

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under those circumstances stocks consolidating on solid liquid funds are a safer option ....

rijayasooriya · 4 Re: Another Meeting Tomorrow???? Wed Jul 27, 2011 10:05 am

rijayasooriya

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Meeting Meeting Meeting

Endless Useless Meeting

Cheating Cheating Cheating

We Are Under Cheating...

ABEST · 5 Re: Another Meeting Tomorrow???? Wed Jul 27, 2011 11:08 am

ABEST

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what will be output of these endless meeting?

who will gain more and more from here?
who will get pain always by change rules

Suthar · 6 Re: Another Meeting Tomorrow???? Wed Jul 27, 2011 12:06 pm

Suthar

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Ransiri Silva wrote:My broker said that there will be another meeting tomorrow between SEC & CSE on T+5. This is just a news and no idea about the output. Do you have any idea???

From the news I got this is true. Tommorrow they are suppose to take imediate solution for the problem. Problem is some broker firms supporting current rules and regultions. (CT Smith/JKSB)

Rajaraam · 7 Re: Another Meeting Tomorrow???? Wed Jul 27, 2011 12:10 pm

Rajaraam

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Realy I am not interested of these meetings now. As rijayasooriya says those are endless useless meetings.

ShareShares · 8 Re: Another Meeting Tomorrow???? Wed Jul 27, 2011 12:38 pm

ShareShares

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Rajaraam wrote:Realy I am not interested of these meetings now. As rijayasooriya says those are endless useless meetings.

One Broker firm said, having cleared over 90 percent of credit, they might not go back to unregulated credit again. They might allow banks to lend. Any way medium term investments might offer some gains, difficult to predict on short term rallies. Even if they relax there will be a strict control over these matters.

Rajaraam · 9 Re: Another Meeting Tomorrow???? Wed Jul 27, 2011 1:29 pm

Rajaraam

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Whether credit giving or not that is up to the broker. They also should have a capacity to bare some risk related to their customers credit. Brokers ashould compete each other to attract clients and credit will be one importent item in that. For the commision they collect from each trade they also need to take some risk and must have sufficient assets to back the credits granted to their clients. Othewise they are just like "pin petti" collect some money for nothing. Isn't it?

rijayasooriya · 10 Re: Another Meeting Tomorrow???? Wed Jul 27, 2011 1:58 pm

rijayasooriya

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Rajaraam wrote:Whether credit giving or not that is up to the broker. They also should have a capacity to bare some risk related to their customers credit. Brokers ashould compete each other to attract clients and credit will be one importent item in that. For the commision they collect from each trade they also need to take some risk and must have sufficient assets to back the credits granted to their clients. Othewise they are just like "pin petti" collect some money for nothing. Isn't it?

Well said brother +rep from me.