Regulatory Alerts2017-01-03
Guidelines on Market Levies for 2017
The Securities and Exchange Commission mandates Fund Managers and Market Operators to pay standardized market, transaction, and depository levies for the 2017 financial year. The guidelines establish fixed annual fees by entity type, set transaction rates at 0.15% for shares and 0.01% for bonds, and require quarterly payments on Funds Under Management calculated at 0.09% of Net Asset Value after specified deductions. Overdue payments incur interest based on the prevailing 182-day Treasury bill rate, with non-compliance subject to regulatory sanctions under the Securities Industry Act.
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