With a view to providing a proper regulatory framework for licensed Securities Exchanges and Clearing and Settlement Facilities, the Minister of Financial Services and Good Governance has communicated on 21 January 2022 its decision to promulgate the Stock Exchange (Brokerage) (Amendment) Regulations 2022 (the “Regulations"), under the Securities (Amendment) Act 2021.

Presently, there is more than one Securities Exchange with each one having its own licensed Clearing and Settlement Facility to clear and settle transactions. The amendments brought forward by the Financial Services Commission (FSC) to the Stock Exchange (Brokerage) Regulations will implement a fairer distribution process of the brokerage fees for securities transactions.

The Regulations further provide for each investment dealer to determine its own brokerage fee and the FSC Rules relating to Brokerage Fees shall be amended to reflect the above.