1- Brokers and membership

  
General Information 

 Based on article No.(6) of the General People's Committee No.(436) for the year 1376. R. (2008 Christian) on the issuance of the Statute of the Libyan Stock Exchange, which stipulated that the membership of the Libyan stock market consists of financial intermediaries in the market accepted .

Financial intermediaries is a joint-stock companies licensed by the Libyan Stock Market to engage in the brokerage profession has. The importance of the role of financial intermediaries in the market to treat investors in the stock market is not only through them, where such companies seek to provide services to investors in accordance with the permitted activities of practitioners exercising market where there is a contractual relationship governing the relationship between brokers and investors.

Membership in the Libyan Stock Exchange is a free market because of its members meets the membership fee of $ (25,000) twenty five thousand Libyan Dinars benefited once.

And annual contributions amounting to $ (10,000) ten thousand Libyan dinars paid at the beginning of each financial year.


Mechanism of action and  Department of intermediaries and membership


In the implementation of its work according to the terms of reference set forth in the statute (No. 436) and in resolution (35) on the organization of brokerage firms, and that follow up on these companies in terms of ensuring the payment of membership fees prescribed in the regulations of the market in addition to the contributions as well as annual follow-up procedures reconcile the brokerage firms and the extent of its commitment to the rules and labor legislation adopted by the market.

With regard to the mechanism of supervision and inspection of the brokerage firms, the Administration do the job where they are sure of the following:

• Of companies to meet their data and what is required and address on the contingencies of the actions or legislation by the market, and this correspondence is saved in the files of private companies separately.

• Control irregularities resulting from the non-observance of intermediaries (implementing) for all controls and regulations governing the work of financial intermediation through implementing the follow-up during the trading session.

• follow-up of the internal observers

• Organizing inspection visits in coordination with other departments, where it is the task follow-up and Inspection Department, through field visits on a regular basis in addition to the sudden visits for brokerage firms. 
 

 

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