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Dealing with Market Intermediaries and Market Information. By Md. Ashraful Islam Executive Director, SEC. Contents. Part-A: Dealing with Market Intermediaries Market & intermediary fundamentals How investors should deal with intermediaries How regulators deal with intermediaries
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Md. Ashraful Islam
Executive Director, SEC
Part-A: Dealing with Market Intermediaries
Part-B: Dealing with Market Information
A market is the means through which buyers and sellers are brought together to aid in the transfer of goods and/or services. So a market need not have a physical location but the only necessity is that buyers and sellers are facilitated to communicate regarding the relevant aspects of transaction. Both buyers and sellers benefit from existence of the market
-Money market financial assets, maturity< or = 1 year
-Capital market financial assets, maturity > 1 year
There are many financial markets but they are not all equal – some are more active and liquid, others are relatively illiquid and inefficient in their operations.
Different types of financial assets have different characteristics and involve different levels of risk-return combinations. At present we live in a world of rapid pace of financial innovation because of two significant events- advent of telecommunication, internet and computer technology, and the globalization of business, especially finance.
But in real market, all these features are hardly existing, which raise the need for intermediaries and regulation of the market in order to develop a fair, transparent, efficient and reliable market.
Intermediaries transform less preferred financial assets into more preferred financial assets for the general public assuming the risk involved in the transformation process. Various intermediaries are involved in various parts of transformation and value addition/retention services for the assets.
and information processing,
If the decision on the appeal cancels the registration or suspend the registration, a copy of the decision will be send to the Stock exchanges.
If suspension of the registration occurs under section 12(1) or 12(7), the suspension order shall prevail until the appeal resolved.
- In such case, AR can work with other operational broker/dealer after taking release from the existing broker/dealer
Supervision & Monitoring Broker/dealer/ AR Activities:
1) Maintenance of books of accounts:
- Chronological and customer wise record of money received and
- Chronological and customer wise record of securities received and
delivered including name, quantity, ref no. of security
- Chronological record of transactions made in a consolidated customer’s account
2) Maintenance of consolidated customers account with scheduled bank for the deposit of money received from or paid to customer
Electronic media (Website, TV, Radio, Email, Message Group, SMS)
SEC/DSE/ CSE Review/ Publications
Trade data in CD
SEC/DSE/ CSE/CDBL/ Company websites
Company annual/half-yearly/quarterly reports
3rd party data service providers