Regulatory Alerts2022-01-01
Securities Industry (Issuing House) Guidelines 2022
The Securities and Exchange Commission issued the 2022 Guidelines to regulate, license, and supervise Issuing Houses that arrange or underwrite securities issuances. The framework establishes mandatory licensing criteria, including professional indemnity insurance, a minimum of four licensed representatives, operational independence from issuers, and strict anti-money laundering compliance. Issuing Houses must submit audited financial statements within ninety days, file timely quarterly and annual returns, fully disclose transaction fees, and face license suspension or administrative penalties of up to twenty thousand penalty units for non-compliance.
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