Regulatory Alerts2023-08-04
Added · Updated
Guidelines on the Distribution of Dividend and Other Distributions for Securities Dealers
The Financial Services Commission of Jamaica issued these guidelines to standardize the dividend distribution process for all licensed Securities Dealers under the Securities (Amended) Act 2014. The document mandates that dividends must be paid exclusively from unrestricted retained earnings and requires compliance with specific prudential criteria, including capital adequacy, liquidity, and the absence of capital impairments. Licensees must submit a detailed application with audited financial statements, auditor reports, and solvency tests to the FSC for approval before declaring any distributions.
Topics
Share