four prohibited stockbroker firms called to transfer portfolios

The Colombo Stock Exchange has requested the four stockbroker firms, whose trading activities have been prohibited due to non-compliance, to transfer their securities portfolios to other firms.

The four stockbroker firms falling under the SCE rule of 5:1: 1: and %: 5: 2: 1: are Nation Lanka Equities (Pvt.) Ltd, Navara Securities (Pvt.) Ltd, TKS Securities (Pvt.) Ltd and Claridge Stockbrokers (Pvt.) Ltd.

These four identified barred broker firms will only be permitted to resume all trading activities after they comply with the Minimum Capital Adequacy Requirements and Minimum Shareholders’ Fund Requirement, as applicable according to the CSC.