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All stock brokers are being required to submit to the SEC and CSE the adjusted net capital statement on a monthly basis along with other financial statements.
This is part of implementing the new SEC directive on broker credit announced on Monday.
The SEC permitted stock brokers to extend credit to a limit of three times adjusted net capital, which is the net capital computed as per the Colombo Stock Exchange member regulations less 50% of fixed assets.
In doing so, the SEC repealed earlier regulations which were effective through a directive issued in August 2011.
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Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.