SEC makes positive decision: Details of new credit rules out today

Tuesday, 16 August 2011 00:43 - - {{hitsCtrl.values.hits}}

The special meeting of the SEC Commissioners yesterday had taken a positive decision with regard to relaxing credit rules, industry sources told the Daily FT.

A short but decisive meeting had studied all facts and information submitted by the SEC Secretariat relating to pros and cons of relaxing credit rules as well as suggestions by Colombo Stock Brokers Association before making its final decision.

Daily FT learns that full disclosure of the decision made by the Commissioners will be made today. In essence, brokers who are liquid and have the capacity will be allowed to lend to their clients according to industry sources.