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Untitled Document

JSDA Council Bulletin (December 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
Fsc Fee Proposal
The FSC has sent letters to dealers requesting payment of the new fees in full. The Chairman wrote to Brian Wynter (FSC) advising him that from consultative discussions between the JSDA/FSC the premise was that the new fees would be paid quarterly in equal instalments. Mr. Wynter advised the Council by letter dated November 27th that under the Securities Act the fees will have to be paid in full.
Interim Capital Standards & Margin Requirements
In response to a follow-up letter from the JSDA, the FSC has issued revised Capital Standards & Margin Requirement Regulations and advised that the final document will be released by December 15, 2003
Withholding Tax Refund
The Council was advised that to date Mr. Clive Nicholas has not replied to the Chairmanís letter of May 27th or November 18 regarding the delay of withholding tax refunds.
Treatment Of Securities Acquired On Margin
The FSCís response to the Treatment of Securities Acquired on Margin was circulated at the last Council meeting.
Annual General Meeting
The Annual General Meeting is scheduled to be held in February 2004.
Expanding Secretariat Services
The Council proposes to expand the secretariat services provided to the JSDA through the PSOJ in the new year.
Jsda 2004 Budget
The JSDA 2004 budget will be prepared before the AGM.
Immobilization Of Goj Securities
The FSC has agreed to extend the deadline for submission of the required data. The FSC also held a workshop on December 3rd to address the difficulty members were experiencing in completing the standard templates.

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