The Jamaica Stock Exchange (JSE) has taken note of the reports circulating in both the traditional media and social media and wishes to advise the market and the public at large that all of its Licensed and Regulated Brokers have the required Capital Adequacy to operate in line with the JSE Excess Capital guidelines at this time.
The JSE performs an operational review of the Brokers monthly financial returns to determine, based on its measure for calculating excess free capital adequacy, whether the institution is close to or near to that which is benchmarked. From time to time, depending on the activities of an institution there may be instances where Brokers are at that limit and the Exchange will require Brokers to unveil their plan to address the matter. We would like to ensure that the Public is aware that the excess capital measurement calculates amounts in excess of FSC regulatory requirements and therefore does not reflect if the Broker Dealer is adequately capitalized to operate.
Once again, we would like to reiterate that there is no need for the public to be alarmed as there is no Broker that has a capital deficiency at this point.
-30-
CONTACT:
Mr. Neville Ellis
Marketing Manager
Telephone: 876-967-3271/876-322-0984
