We conclude our discussion on Repo Guidelines by highlighting Sections XIV to XX of the Sales and Repurchase Agreement Guidelines. We will also provide data on the current size of the local repo market, as at June 30th, 2020. After a repo transaction takes place, a written or electronic confirmation …
We continue our three-part series on Repo Guidelines and focus our discussion this week, on Sections V to XIII of the Sales and Repurchase Agreement Guidelines. According to Section V of the Repo Guidelines, Repo sellers must ensure that all collateral securities[1] are either registered with the Commission, or registered …
The first question you may be asking yourself is, “What is repo or a repurchase agreement? It sounds similar to taking out hire purchase.” Actually, they are quite dissimilar in nature. Repurchase agreements are referred to as repos or buy/sell backs. In such agreements, according to the International Capital Markets …
Christmas is characterised by feelings of hope and joy, which are needed more so now due to the socio-economic impact of COVID-19 on families and households. The season is also marked by high levels of consumerism. This year’s preparation and observance of Christmas will require significant adjustment on the part …
In our previous article, we discussed the regulatory frameworks that are available to the TTSEC in regulating the local securities market. The Securities Act, 2012 as amended (“SA 2012”) and its Securities General By-Laws, 2015 are two (2) major lynchpins through which the securities market and its market actors are …
The formalisation of the local securities industry began as a policy decision by the Government in the 1970s, which sought to localise the foreign-owned commercial banking and manufacturing sectors of the economy. The primary policy objective, at the time, was to encourage these businesses to divest and sell a majority …
Globally, as at November 7, 2020, there were over 6,700 types of cryptocurrencies including, Bitcoin, the most popular digital currency, which currently trades at USD$15,014.90. This amounts to approximately TTD$101,964.75. At the beginning of the fourth quarter of 2020, cryptocurrencies recorded a cumulative market capitalisation of USD$237.1 billion. Despite this, …
In last week’s article, the Trinidad and Tobago Securities and Exchange Commission (“TTSEC”) outlined the main disclosure and filing requirements of the Reporting Issuer. In this article, we will discuss the disclosure and filing obligations of Registrants under section 51 of the Securities Act, 2012 (“SA 2012”). According to the …
In previous articles, the Trinidad and Tobago Securities and Exchange Commission (“TTSEC”) explained the various types of entities registered to conduct business activities in the securities market. Over the next two (2) articles, the TTSEC will discuss the filing obligations of these entities, specifically, the Reporting Issuer and Registrants. From …
The Trinidad and Tobago Securities and Exchange Commission’s (TTSEC’s) Guidelines for Collective Investment Schemes, 2008, states that a CIS manager is a person who is responsible for the business operations and affairs of a collective investment scheme. Guideline 11 of the TTSEC CIS Guidelines states that no person shall act …
