Sri Lanka Equity Forum
Dear Reader,

Registration with the Sri Lanka Equity Forum would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.

Thank You
Sri Lanka Equity Forum

Discussion Forum for Stock Market Investors in Sri Lanka

සිංහල පරිවර්තනය
Submit Post
Submit Post
Market Place

Add an ad

View all ads

Latest topics

» EMER...?????
by ehele90 Today at 6:42 pm

» JKH will touch 175 very soon
by Bakka1988 Today at 3:24 pm

» CIND බලාගෙනයි
by Bakka1988 Today at 3:15 pm

» Positive News
by Promoney Today at 2:21 pm

» Why AAIC Should trade above RS.50/-
by nosf76677 Today at 2:01 pm

» Browns investments
by Winner123 Today at 11:33 am

» lOFC definitely will hit 6/-
by wealth123 Today at 10:49 am

» GLASS (piramal glass ceylon plc) from
by MarketWch Today at 10:20 am

» Capital trust recommended to buy AEL ..Target Price Rs.24.50
by wisdom79 Today at 9:27 am

» Elcection Commisioner( MACO)
by Capton KIng Cool Today at 8:59 am

» Presidential election will be held on 16 th of November to 7th of December
by rukshan1234 Yesterday at 11:30 pm

» Which Trading System Or Strategy Is The Most Profitable?
by Teller Yesterday at 8:13 pm

» NEST will touch Rs2000 soon
by Bakka1988 Yesterday at 5:41 pm

» Gotabaya Rajapaksha will named after 10th August. Aspi will move above 6500
by samaritan Yesterday at 11:59 am

» CFVF.N0000 - Target price Rs.60- Donnt sell
by Trader321 Yesterday at 10:06 am

» CFVF.N0000 - Really started Again ..........
by Trader321 Yesterday at 9:59 am

» LOLC Holding( LOLC N.0000)
by Capton KIng Cool Yesterday at 8:45 am

» LOLC Holding( LOLC N.0000) MICRO FINACE In Cambodia
by Capton KIng Cool Yesterday at 8:43 am

by samaritan Yesterday at 8:17 am

» ASHO will hit moon. Deal with SLTB
by Bakka1988 Sun Aug 18, 2019 9:41 pm

» CFVF.N0000 - Deal at What price?
by Winner123 Fri Aug 16, 2019 8:35 pm

» Profitability of all the banks slides down on bigger margins
by hammurabi Fri Aug 16, 2019 8:25 pm

» කව්ද පකීර් ?(who is the Veteran)
by reyaz Fri Aug 16, 2019 7:32 pm

» News AEL super report in this quarter Don't sell ..
by sheildskye Fri Aug 16, 2019 6:59 pm

by Trader321 Fri Aug 16, 2019 10:20 am

» CFVF.N0000 :Amazing Result- Quarter Profit more than Half Billion
by Winner123 Thu Aug 15, 2019 12:43 pm

» Kzoo vs onal
by wisdom79 Wed Aug 14, 2019 9:45 pm

» GREG is back
by wisdom79 Wed Aug 14, 2019 9:42 pm

» AAIC - Profit over one billion!!!!!
by wisdom79 Wed Aug 14, 2019 9:39 pm

» Sri Lankan Billionaire Dhammika Perera may Spend Rs. 10 Billion for a Presidential Campaign without any Risk! His Daily Casino Profits said to be over Rs. 50 Million
by Teller Wed Aug 14, 2019 8:40 am

» CFVF : Another dividend ?
by Promoney Tue Aug 13, 2019 7:28 pm

» CFVF.N0000 & PARQ.N0000 - These two counters Must be in your Portfolios
by Trader321 Tue Aug 13, 2019 6:39 pm

» PARQ.N0000 : Target Price Rs. 50 /=
by Hewagak Tue Aug 13, 2019 5:01 pm

» TAP Less than 1% Shares in the Market
by sanjulanka Tue Aug 13, 2019 12:10 pm

by Winner123 Tue Aug 13, 2019 12:09 pm

» what is the future of KHL (JOHN KEELES HOTELS)
by bhanu Mon Aug 12, 2019 9:03 pm

» TKYO.X0000 will it move furthur?
by bhanu Mon Aug 12, 2019 5:00 pm

» stock market investors and cheated those who approached them.
by Asoka Samarakone Mon Aug 12, 2019 10:14 am

» LLMP can run in present market
by wealth123 Mon Aug 12, 2019 10:03 am

» Where Is Equity Champ
by Teller Mon Aug 12, 2019 8:52 am

» Pending AEL crossing @ Rs.20 deal near soon..
by EPS Sun Aug 11, 2019 8:26 pm

by King of vice Sun Aug 11, 2019 7:38 am

» Let's Pump And Dump BUT...
by King of vice Sun Aug 11, 2019 7:26 am

You are not connected. Please login or register

Sri Lanka Equity Forum » Stock Market Talk » SEC to reform licensing framework for market intermediaries

SEC to reform licensing framework for market intermediaries

Go down  Message [Page 1 of 1]


By Dinali Goonewardene
The Securities and Exchange Commission (SEC) has released a consultation paper on reforming the licensing framework for market intermediaries.

Features of the proposed new system include consolidating all market participants under the common umbrella of market intermediaries and the restriction of license to only corporate entities.

This includes the expansion of the definition of market intermediaries to include additional entities who provide intermediary services in the capital market. This category will comprise of all market participants regulated by the SEC and will also include additional categories who have not been regulated.

This includes stock brokers, stock dealers, derivatives brokers and corporate finance advisors, investment analysts, investment managers, financial planners, managing company of unit trusts and other investment schemes that are or will be regulated by the SEC, underwriters, margin providers and any other person or entity as may be specified by the commission to be necessary for the proper regulation of the capital market.

Market intermediaries will be licensed as opposed to being issued with a certificate of registration. The new categories of market intermediaries will also include derivatives brokers, corporate finance advisors and financial planners. The new categories of intermediaries will be defined as follows: derivatives broker-anybody corporate engaged in the business of buying or selling of derivative contracts on behalf of investors for a commission and corporate finance advisor – anybody corporate who for a fee or commission engages in the business of providing advice.

It is proposed that the Act incorporates provisions that will enable the Commission to conduct a detailed assessment on the applicant who seeks to be licensed. In this regard it is proposed that the Act will empower the commission to ask for further information other than those that have been disclosed in the forms submitted to the commission if the need should arise.

It has been proposed that the Act be amended to allow the Commission to impose conditions and restrictions on the license granted and that the Act will incorporate transparent criteria for granting and renewing a license. The Act will provide for the commission to refuse to grant or renew a license of a market intermediary on the grounds the application was not made in accordance with the act, the applicant has failed to comply with any requirement of the Act, the applicant has furnished false or misleading information or if there is a material omission, the applicant is in the course of being wound up or otherwise dissolved or that execution against the applicant in respect of a judgment debt has been returned unsatisfied in whole or in part. It may also the refuse a license on the grounds a receiver or manager has been appointed within or outside Sri Lanka, or in respect of any property of the applicant. It has been proposed that the Act will prohibit a market intermediary from carrying on its business if it does not meet the minimum financial requirements specified by the Commission or as may be provided in the rules of a stock exchange or a derivatives exchange. The Act will include provisions that will enable the Commission to regulate the business conduct of market intermediaries in relation to clients’ assets.


Director - Equity Analytics
Director - Equity Analytics
At last.


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Good move.

Sponsored content

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum