Prime Minister Meets Representatives of the JSE

Posted: October 10, 2007 at 12:00 am

(KINGSTON, OCTOBER 8, 2007): Members of the Board of Jamaica Stock Exchange, (namely, the Chairman – Mr. Curtis Martin; the Deputy Chairman – Mr. Leo Williams; Director – Mr. Ed McKie; General Managers – Mrs. Marlene Street Forrest and Mr. Robin Levy of the JSE and The Jamaica Central Securities Depository respectively) paid a courtesy call on the Hon. Prime Minister Bruce Golding on Wednesday, October 10, 2007 at 9:30 a.m. Also present at the meeting were the Minister Finance Mr. Audley Shaw, Mr. Brian Wynter- Executive Director of the Financial Services Commission (FSC) and Mr. George Roper- Deputy Executive Director of the FSC. 

The Prime Minister welcomed all present. The representatives of the Exchange took the opportunity to update the Prime Minister on events relating to the Stock Exchange. The update comprised information on the planned Junior Stock Exchange and the Caribbean Stock Exchange (CXN). The Prime Minister expressed interest in the Junior Exchange and stated that it would be a very good avenue for small, vibrant firms to raise capital for business expansion. He also, stated that this would also encourage greater participation of average investors in the stock market. Mrs. Marlene Street Forrest assured the Prime Minister that JSE was working towards an early start date for the Junior Exchange.

On the question of the CXN, the JSE representatives indicated that the revised draft regulatory framework was soon to be submitted to the Securities Regulators (Trinidad, Barbados and Jamaica). The Stock Exchange advised the Prime Minister of plans to launch the CXN in January 2008, once all required regulation has been approved. The Prime Minister expressed his commitment to the process.

 The issues of listing new companies on the exchange and expanding the numbers of investors in the market were also discussed. The JSE Chairman Mr. Curtis Martin highlighted the fact that unregulated alternative investment schemes were posing a challenge to efforts to grow and develop investments in the equities market. The Prime Minister however, informed the JSE of his government commitment to work closely with them to realize the development of the market.

 The issues of listing new companies on the exchange and expanding the numbers of investors in the market were also discussed. The JSE Chairman Mr. Curtis Martin highlighted the fact that unregulated alternative investment schemes were posing a challenge to efforts to grow and develop investments in the equities market. The Prime Minister however, informed the JSE of his government commitment to work closely with them to realize the development of the market.

 The issues of listing new companies on the exchange and expanding the numbers of investors in the market were also discussed. The JSE Chairman Mr. Curtis Martin highlighted the fact that unregulated alternative investment schemes were posing a challenge to efforts to grow and develop investments in the equities market. The Prime Minister however, informed the JSE of his government commitment to work closely with them to realize the development of the market.

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