JMP Markets – Market Alert
March 08, 2021
Date of this announcement
Monday March 8, 2021
Download Papua New Guinea National Gazette – Securities Commission (Levy on Securities Transactions) Order 2021.
Dear Valued Client,
Please find attached a copy of the recent Gazette Notice of the Securities Commission (Levy on Securities Transactions) Order 2021.
As you will note, the Securities Commission is imposing upon all Participating Organisations (such as JMP Securities Limited) an obligation to collect and pay a 0.75% levy on all buy and sell transactions on the market from 8 March 2021.
The levy will in the first instance be collected by PNGX from the Participating Organisations (brokers) who will in turn collect the levy from their trading clients.
Whilst we continue to work with PNGX and the Securities Commission in the hope that this imposition will be reviewed, varied or revoked, it is important to note that it will be in force on all transactions from this week.
We trust that you as our valued client understands that no part of this imposition is levied or retained by JMP Securities Limited.
Should you have any queries, please do not hesitate in contacting myself or Salaniet Mathew from our Settlements Team on +675 3764881.
Thank you for your understanding and continued custom.
Yours Sincerely
Nathan Chang,
Director
JMP Securities
Level 1, Harbourside West, Stanley Esplanade
Port Moresby, Papua New Guinea
Mobile (PNG): +675 7167 3223
Mobile (Int): +61 422 113630
Landline (PNG): +675 3137996