Liberalisation Of Equity Holdings In Capital Market Intermediaries


The Securities Commission has amended the equity requirements for stockbroking companies which are not investment banks (Universal Broker, 1+1 Brokers and Standalone Brokers). Changes to the Licensing Handbook have been made as a consequence to the liberalisation which has come into effect on 5 December 2011. 

Please refer to the Table 1 below for the new shareholding composition requirements, effective immediately.

Dealing in Securities General requirement
  • Investment Banks
  • Minimum of 30% local shareholding
  • Stockbrokers which are not Investment Banks(Universal Broker, 1+1 Brokers and Standalone Brokers)
  • No specific shareholding requirement
  • Special Scheme Brokers
  • No specific shareholding requirement

Dealing in Derivatives

No specific shareholding requirement

Fund Management

No specific shareholding requirement

Investment Advice

No specific shareholding requirement

Advising on Corporate Finance

No specific shareholding requirement

Financial Planning

No specific shareholding requirement
Table 1 above supersedes the current Table 1 of Chapter 4 [4.03(1)] of the Licensing Handbook. 

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