Regulatory Alerts2026-05-07 | DMMD Circular Letter No. 06 of 2026Added · Updated
Guidelines for the Submission of Business Plan by Institutions at the time of Application for Primary Dealer, Preliminary Primary Dealer and Special Purpose Primary Dealer Status
Institutions applying for Primary Dealer, Preliminary Primary Dealer, or Special Purpose Primary Dealer status must submit a Business Plan approved by their Assets & Liabilities Committee or Board of Directors. The plan must detail capital adequacy, organizational structure, IT systems, and contact information, alongside a review of past performance in government debt markets. Applicants are required to outline strategies for diversifying the investor base, including specific targets for non-bank and retail investor accounts, and describe research and development initiatives for market development.