SEC makes positive decision: Details of new credit rules out

MJ

MJ

Manager - Equity Analytics

Posts : 131
Join date : 2011-07-06

Hurrayyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy

MJ

MJ

Manager - Equity Analytics

Posts : 131
Join date : 2011-07-06

Market is going crazyyyyyyyyyyyyyyyyyyyyy

swan03

swan03

Vice President - Equity Analytics

Posts : 1241
Join date : 2011-01-31

Cant read on CSE site. Anyone can read?

wmdcf

wmdcf

Manager - Equity Analytics

Posts : 126
Join date : 2011-01-29

Securities & Exchange Commission of Sri Lanka has relaxed the restrictions imposed on Stock Brokers in extending credit to investors subjected to the certain prudential requirements being met by the Brokers.
Accordingly, the SEC has directed the Colombo Stock Exchange to permit Stock Brokers to extend credit to investors over T+3 days based on the computation of Liquid Assets less Obligations, maintaining a leverage at zero level.
Following is the announcement made by the SEC

DIRECTIVE UNDER SECTION 13 (c) OF THE SECURITIES AND EXCHANGE COMMISSION OF SRI LANKA ACT NO. 36 OF 1987 (AS AMENDED)

The Securities and Exchange Commission of Sri Lanka (SEC) at a Special Commission Meeting held on 15th August 2011 reviewed the restriction imposed on Stock Brokers in extending credit to investors and has decided to relax the said restriction subject to certain prudential requirements being met by the Licensed Stock Brokers, in order to facilitate retail investors to have access to credit by such Licensed Stock Brokers.
The SEC took cognizance of the improving stability in the capital market together with the concerns expressed by the Colombo Stock Brokers Association and retail investors and decided to relax the said restriction subject to prudential requirements as mentioned below.
Therefore, the SEC hereby directs the Colombo Stock Exchange (CSE) as follows:
1. To permit Licensed Stock Brokers to extend credit to investors over T+3 days based on the computation of Liquid Assets less Obligations, maintaining a leverage at zero level as set out in Annexure 1 hereto;
2. To amend the relevant provisions of the Member Regulations of the CSE in such manner to be consistent with this Directive;
3. To mandate Licensed Stock Brokers to reconcile daily positions taken against the Liquid Assets by such Licensed Stock Broker and to submit on a monthly basis a declaration to the SEC and CSE confirming the position of Liquid Assets less Obligations as it stands at the end of each month. The declaration to be submitted within 2 market days after the end of each month;
4. To disseminate this Directive to all Members of the CSE.
This Directive shall be effective from the date hereof.

ssb

ssb

Manager - Equity Analytics

Posts : 228
Join date : 2011-04-07

my heart is beating Smile

dinusha.kiwulegedara

dinusha.kiwulegedara

Senior Equity Analytic

Posts : 69
Equity Stars : 4859
Reputation : 11
Join date : 2011-05-06

windi5 wrote:Hope this wont be an another Carrot.

Yes I think so.... Beware from manipulation.....!!!

smallville

smallville

Associate Director - Equity Analytics

Posts : 4119
Equity Stars : 10117
Reputation : 530
Join date : 2011-02-03
Location : Back on Earth

What's going to happen to the credit clerence dead lines of December?
Now we're gonna cry in another 6-9 months time for artificial drops Twisted Evil

rubber.trader

rubber.trader

Equity Analytic

Posts : 43
Equity Stars : 4581
Reputation : 3
Join date : 2011-12-23

a really interesting discussion. Please read the whole thread.

Sponsored content

Name*:
Phone number:
Email address*:
Comments*:
* - required fields	Learn

Name*:
Phone number:
Email address*:
Comments*:
* - required fields	Learn

Latest topics

SEC makes positive decision: Details of new credit rules out

26 Re: SEC makes positive decision: Details of new credit rules out Tue Aug 16, 2011 1:38 pm

MJ

27 Re: SEC makes positive decision: Details of new credit rules out Tue Aug 16, 2011 1:44 pm

MJ

28 Re: SEC makes positive decision: Details of new credit rules out Tue Aug 16, 2011 2:00 pm

swan03

29 Re: SEC makes positive decision: Details of new credit rules out Tue Aug 16, 2011 2:01 pm

wmdcf

30 Re: SEC makes positive decision: Details of new credit rules out Tue Aug 16, 2011 3:23 pm

ssb

31 Re: SEC makes positive decision: Details of new credit rules out Tue Aug 16, 2011 11:58 pm

dinusha.kiwulegedara

32 Re: SEC makes positive decision: Details of new credit rules out Wed Aug 17, 2011 1:53 am

smallville

33 Re: SEC makes positive decision: Details of new credit rules out Sat Jan 14, 2012 11:11 am

rubber.trader

34 Re: SEC makes positive decision: Details of new credit rules out

Sponsored content

New topics