SECC sets minimum capital requirement
24-05-2012 16:07:10+07:00
SECC sets minimum capital requirement
The Securities and Exchange Commission of Cambodia (SECC) has set a minimum capital requirement for securities firms, in order to protect their financial soundness.
A statement from the SECC, released yesterday, said that securities underwriters are required to hold a minimum of 40 billion riel of their shareholder’s equities, and to keep on deposit guarantee money of at least 4 billion riel.
This would be 25 billion riels for smaller securities dealers, as well as keeping a deposit of 2.5 billion riel, and 6 billion riel for securities brokers with 1 billion riel of guaranteed deposit at any time.
It also requires securities firms to maintain a net capital ratio not lower than 150 per cent and required them to report on the status of the net capital of their company.
phnom penh post
