Implementation of The Financial Resources Requirements Rules For Securities Brokers or Dealers, 2023
TO: All Securities Brokers or Dealers
FROM: The Non-Bank Financial Institutions Regulatory Authority (NBFIRA)
Juliana White
Director - Capital Markets
DATE: 27 March 2023
SUBJECT: IMPLEMENTATION OF THE FINANCIAL RESOURCES REQUIREMENTS RULES FOR SECURITIES BROKERS OR DEALERS, 2023
- Reference is made to the attached Financial Resources Requirements Rules for Securities Brokers or Dealers of 2023.
- The Board of Directors of the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) has approved the above-mertioned Rules and hereby informs all Securities Brokers or Dealers that the Rules should be implemented from 1st April 2023. The industry is given a period of six (6) months to have implemented the Rules.
- Note that the Rules were initially issued as Guidelines but had to be converted into Rules to align the same with Section 58 (1) of the Securities Act of 2014, as read with Section 5 (2) (e) of the Securities (Institutions Licensing) Regulations, 2017.
- Any further enquiries in this regard can be directed to Mr Mbiganyi Modise or Ms Thenjiwe Stephen at 3686100 or through email at mmodise@nbfira.org.bw and tstephen@nbfira.org.bw.
- The Rules can also be accessed through the NBFIRA Website www.nbfira.org.bw.
Down load Financial Resources Requirements Rules for Securities Brokers or Dealers, 2023
