Regulatory Alerts2024-11-14
Regulatory Bylaw No. 34 on Cross Trades and Large Transactions for the Year 2016
The Securities Commission issued Bylaw No. 34 to regulate cross trades and large transactions, defining permitted execution methods and strict disclosure requirements for brokers. The regulation mandates specific financial settlement procedures, including share-for-share exchanges during designated trading hours, and requires brokers to submit comprehensive documentation such as disclosure letters and anti-money laundering compliance declarations. These measures aim to ensure market transparency and integrity by controlling the execution of trades involving different investors executed by the same or multiple brokers.
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