Regulatory Alerts2008-01-01
Securities (Financial Statements) Regulations 2008
Issued by the Minister of Finance on the Securities Authority's recommendation, these regulations mandate licensed securities dealers and related entities to maintain accurate accounting records conforming to international standards and prepare annual financial statements that provide a true and fair view. Licensees must submit their audited financial statements and compliance confirmations to the Authority within four months of each financial year end, accompanied by reports verifying proper record-keeping and client money segregation. The regulations also establish minimum issued and paid-up capital thresholds ranging from US$25,000 to US$150,000 depending on the specific securities license held.
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