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JSDA Council Bulletin (November 01, 2003)

In an effort to promptly disseminate to our members, information on critical issues in the securities sector, we have developed a Bulletin. This will be a monthly publication highlighting issues from our Council Meeting. We hope you will find this useful and we look forward to your feedback. From the Presidentís Desk

Unaudited Financial Statements Of The Jsda
The year end of the Association has been changed to December 31, with the new year beginning in January 2004. A budget will be prepared for the upcoming year and provisions will be included for research services. Funding will be sought for industry training.
Interim Capital Standards & Margin Requirements
The JSDA met with the FSC on November 10th regarding the JSDA response to the discussion papers. The group went through the document point by point. The FSC will be sending a response letter to the JSDA. The Council will wait for the FSCís response before broaching other issues.
Immobilization Of Goj Securities
The FSC circulated templates for this deliverable to members, with a November deadline for data submission. The Council will request a deadline extension from the FSC.
Withholding Tax Refund
The Chairman wrote to Mr. Clive Nicholson in May regarding complaints from members that withholding tax refunds were 6 to 8 weeks delayed. However, the situation has not improved. A follow-up letter will be sent to Mr. Nicholson and copied to the Finance Secretary and the FSC.
Jcsd Ė Fixed Income Project
Anya Schnoor and Allan Lewis represented the JSDA at the FSC Consultative Group meeting held on October 16 and November 27.
Fsc Will Circulate Industry Info To All Securities Dealers
The FSC has agreed to the Councilís request for them to disseminate information to every securities dealer, as not all dealers are members of the JSDA.
Monthly Council Meeting Minutes
The monthly Council Meeting minutes will be circulated to all JSDA members in the form of a newsletter.

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