JAM | May 23, 2023

100% compliance record for monthly and quarterly JSE member-dealer filings

/ Our Today

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Exterior view of the entrance to the Jamaica Stock Exchange (JSE) along Harbour Street in downtown Kingston. (Photo: JIS)

Durrant Pate/Contributor

The Jamaica Stock Exchange’s (JSE) 14-member-dealers have had a clean record of regulatory filings for the month of February and filing for the March quarter.

The JSE’s Monthly Regulatory Report for March 2023 shows that for the reporting period 14 monthly returns were due and submitted on time. In accordance with JSE Rule 209 (A) member-dealers are required to file monthly returns for the period ended February 28, 2023 by March 31, 2023.

The slate was also clean regarding quarterly returns for March. For the reporting period ended March 31, 2023, no quarterly returns were due.

Under JSE Rule 209 (B) member-dealers are required to file quarterly returns within 31 days of the end of each month.

Seven annual returns outstanding

At present, seven annual returns by member/dealers are due for the reporting period. A final extension relief was provided to support member/dealers in the month of March 2023, who continued to face challenges in meeting their obligations.

Six utilized the extension provided and is slated to provide their Annual Returns by May 15, 2023. The aggregate compliance rate for member-dealers’ filing of financial returns due for the month ended March 2023 is 71 per cent.

For the 2022 comparative reporting period, member-dealers’ aggregate compliance rate was 80 per cent. Under JSE Rule 209 (C) member-dealers with financial year ended December 31, 2022 are required to file their Annual Returns by March 31, 2023.

For the reporting period ended February 2023 all member dealers satisfied the JSE’s Excess Net Free Capital (ENFC) requirement as prescribed by JSE Rule Appendix 12 – Member/Dealers’ Report and Financial Information.

Market surveillance and compliance activities  

Market surveillance and compliance issues that were brought to the attention of the JSE for the month of March 2023 amounted to 15 versus 18 for the comparative period last year.

Thirteen issues have been closed and two remaining unclosed during the month of March compared to 11 being closed in March 2022 with seven remaining unclosed. For the year to date period 43 market surveillance and compliance issues were reported, up from 80 during the same period last year.


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