Stockbroker licences of sbb

According to a statement released by SBB, they have requested for the suspension due to substantial accounting backlog, which dates back six months.

In addition, SBB noted that the new finance manager identified awaits completion of the vetting process by Non-Bank Financial Institutions Regulatory Authority NBFIRA assuring their clientele that normal trading will resume once they have fully addressed all the issues. However BSE CEO Thapelo Tsheole said that through the agreement that was done in collaboration with NBFIRA, they have decided to suspend them effective Wednesday this week pending investigations.

In the meantime, Tsheole assured account holders that their holdings are still intact and should approach any of the three BSE brokers namely Imara Securities, Motswedi Securities and African Alliance if they are trading. However, he advised investors who have already placed orders and paid for shares upfront to approach SBB to get a refund and go to a broker of their choice to place orders.

The CEO said this was not the first suspension to be done on stock brokers noting that usually it is done due to non-compliance with rules and regulations, operational issues, administration and governance issues. He added that they usually monitor how brokers operate to see if they are complying, noting that they also request them to send their quarterly accounts to BSE and NBFIRA to be evaluated.

BSE suspends top stockbroking firm - Botswana Guardian

SBB was incepted about 26 years ago with a mission to create wealth for their clients and shareholders whilst attracting investment into the country by facilitating the trading of securities and provision of reliable and financial market intelligence. Wednesday 21 June , By Pauline Dikuelo Thu 01 Sep , BSE suspends Stockbrokers Botswana.

In addition, Tsheole also assured investors who have been dealing with SBB that this would Banners googletag. Send us a Tip.

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