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Bill: Strong Solentia: Exchanges Regulations Bill
Details
Status[?]: passed
Votes: This is an ordinary bill. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: February 4131
Description[?]:
| This bill proposes the creation of the Solentian Exchanges Administration. The SEA as part of the Ministry of Trade and Industry shall be tasked with regulating the exchanges to prevent fraud or malfeasance, administering fines and levying taxes. It shall also encourage the formation of private self-regulatory ethical business agencies in all areas such as commodities, finance, and equity trading. The first regulations put into practice include the following: - A modest capital gains tax of 7% for equities held for one year or more (15% rate for less than one year), waved for those earning less than 50,000 SOL a year. - Income received from dividends will be subject to income tax law. This will be waved for those earning less than 50,000 SOL annually. - Financial regulations and taxes involving derivatives and high-frequency or 'flash trading' to create market stability. At a conservative estimate, we expect a net gain of 10 billion SOL a year from fines and taxes during the first few years of implementation. |
Proposals
Article 1
Proposal[?] to change The government's position towards the stock exchange(s).
Old value:: The government has no position on the proliferation of stock exchanges.
Current: Stock exchanges are allowed but are regulated.
Proposed: Stock exchanges are allowed but are regulated.
Debate
These messages have been posted to debate on this bill:
| Date | 23:10:17, December 04, 2016 CET | From |  SUN | To | Debating the Strong Solentia: Exchanges Regulations Bill |
| Message | From this 10 billion SOL or more a year we hope to make slight increases to the following Ministries: Defence, Science and Technology, and Infrastructure and Transport. For a Strong Solentia we need a strong defence, cutting edge technology, and great transport and infrastructure capabilities. |
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Voting
| Vote | Seats | |||||
| yes |
Total Seats: 346 | |||||
| no | Total Seats: 0 | |||||
| abstain | Total Seats: 154 |
| Random fact: The players in a nation have a collective responsibility to prevent confusion by ensuring unofficial or outdated bills labelled as "Cultural Protocols" are removed from their nation page. |
| Random quote: "Socialism failed because it couldn't tell the economic truth; capitalism may fail because it couldn't tell the ecological truth." Lester Brown, Fortune Brainstorm Conference, 2006 |