Colombo stock exchange rules regulations
You are using an outdated browser. Please upgrade your browser or activate Google Chrome Frame to improve your experience. Opening a securities account to trade on the Colombo Stock Exchange is a straight forward process. All foreign institutional and individual Investors are required to open a Securities Investment Account SIA via a local custodian bank.
If you would like a member of our sales team to walk you through the whole account opening process please share your phone details with us and we will get in touch with you promptly. The most frequently used custodian banks in Sri Lanka by foreign clients to open a SIA accounts include HSBC, Standard Chartered Bank, Deutsche and Citi.
The SIA permits the foreign institution or individual to trade in any listed security without any restrictions or limitations on the repatriation of funds. Upon opening an SIA account, the relevant account holder will be issued with a Central Depository System CDS account number example FC which needs to be quoted when executing a transaction.
An SIA account would typically take two weeks to be opened by a foreign fund upon submission of all required documents and being vetted by the regulator, the Securities and Exchange Commission.
A non-resident individual account typically takes 2 - 3 days to be opened upon submission of all required documents. For details regarding documentation required to open a securities account for foreign funds, company or individual as well as contact details of leading custodian banks in Sri Lanka please click here.
For account opening forms and details regarding opening a direct securities account with John Keells Stock Brokers for a local institution or individual, please click here.
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Foreign investment is encouraged and investment in companies listed on the Colombo Stock Exchange is unrestricted. Foreign institutional and individual clients may also direct orders via one of our multiple global trade execution partners.
For further information on our global trade execution partners please contact our foreign sales desk. Such certification should state that the document is a certified true copy. How to Register Trading on the Colombo Stock Exchange Opening a securities account Opening a securities account to trade on the Colombo Stock Exchange is a straight forward process.
Opening an Account 1. Client Instructions to open an account with John Keells Stock Brokers The Client has to submit the duly completed client account opening forms together with the relevant documents to the participant as set out below in the documents required in Section 1.
After reviewing the account opening documents inclusive of the relevant documents, John Keells Stock Brokers shall submit the forms in order to open the CDS account on behalf of the client.
It is the responsibility of the Client to take all possible steps necessary to prove their identity as per FIU Regulations. The CDS shall reject incomplete account opening documentation, giving reasons for rejection and handing over same to the Broker.
Colombo Stock Exchange | How to Register | John Keells Stock Brokers
Documents required for new and existing colombo stock exchange rules regulations 2. A clear photocopy of the National Identity Card NIC. If the NIC is not available, a copy of japan stock market financial crisis the case of asia valid passport as at the date of the account being opened at the CDS should be submitted.
This should be submitted strategy for trading binary options win with a sworn affidavit stating that the NIC is not available. If both the NIC and passport are not available, a copy of the driving license should be submitted together with currency option interactive brokers affidavit confirming the fact that both the NIC and passport are not available.
CDS form 1 CDS form 1 A Proof of residency document as per the rules issued by the Financial Intelligence Unit of Sri Lanka valid within the last three months CDS form 20 applicable for DEX transactions on colombo stock exchange rules regulations Debt Securities Transaction Platform DEX Note: If the account is to be opened using a Power Of Attorney POA a copy of a valid POA is required.
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A copy of a Sri Lankan valid passport for Sri Lankan nationals or A copy of a valid foreign passport for non-nationals Proof of residency document as per the rules issued by the Financial Intelligence Unit of Sri Lanka If a non-national applicant wishes to open an account giving a local correspondence address, that person should provide sufficient information regarding the correspondence address e. Valid residential visa Note: If an existing exchange traded options taxation account holder opens a foreign individual account, CDS 1 C has to be submitted.
If a resident Sri Lankan becomes a non-resident, that person would have to open stock broker richest new foreign account.
In such an instance the following documents relating to opening a foreign client account needs to be submitted. A copy of the certificate of incorporation of the company.
If the company has changed its name, a copy of the certificate of name change issued by the registrar of companies is required. A copy of the articles of association of the company An extract of the resolution passed by the board of directors to open the CDS account.
In the alternative, the company may provide certification of the relevant section in the account opening form itself CDS form 2 A recent dated letter from the company secretary indicating the names, addresses, NIC or passport numbers, and occupations of all existing directors. A recent dated letter from the company secretary confirming the top shareholders names and addresses up to a maximum of ten shareholders. For companies listed on the Colombo Stock Exchange, a directors list and a shareholders list is not applicable.
If an authorized person signs the CDS application form on behalf of the applicant company, then the following must be submitted: If the company is listed in a regulated stock exchange, only the names of directors and the name of stock exchange web site reference is sufficient should be given. This is not applicable if the company is listed on a stock exchange. In that event, a web site reference is sufficient. Where the application includes a Global Custodian and the application is forwarded through a Custodian bank, a copy of the SWIFT message or similar document issued by the Global Custodian instructing the local custodian bank to open the account on behalf of the beneficiary company should be submitted together with a declaration from the Global Custodian that a custody arrangement or agreement exists between the Global Custodian and the beneficiary.
CDS form 2 completed by the company in accordance with the provisions of the articles of association of the company. CDS form 2 A. Copy of the document relating to the establishment of the fund Prospectus, Trust Deed and other legal documents which should contain the following: If the account is coming through a global custodian, documents should be certified by the custodian bank. By a solicitor, attorney-at-law, notary public, practicing in the country where an applicant resides.
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