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Bill: P.I.4161-Stock Exchanges Regulation Act
Details
Submitted by[?]: Venstre Kazulia(Liberal Party)
Status[?]: defeated
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: December 4162
Description[?]:
| We do Believe that Stock Exchanges are Important.But they cannot be simply left without any regulation.Leaving them unregulated will lead to Unfair Trade Practices,which may be disastrous and will lead to Economic Crisis.Therefore we can prevent such a situation by creating the Stock Exchanges Board of Kazulia.Which will be under the Control of His Majesty's Government. Article-1 Private Stock Exchanges are allowed to operate under Strict Guidelines and Licensing Procedures Article-2 Regulations:- SEBK(Stock Exchanges Board of Kazulia)to be created to regulate Stock Exchanges:- Functions:- It's overall Objective will be to Regulate Stock Exchanges and to also encourage the development of Stock Exchanges and to diversify the Investment Base in the nation. It will also:- 1. To protect the rights of investors and ensuring safety to their investment. 2.To prevent fraudulent malpractices by having balance between self regulation of business and its statutory regulations. 3.To regulate and develop a code of conduct for intermediaries such as brokers, underwriters, etc. Its Functions can be broadly classified into 1.Protective Functions:- A.Prevents Price Rigging B.Prevents Insider Trading C.Prohibits fraudulent and unfair trade activities 2.Developmental Functions:- SEBK will promote training of intermediaries in the securities market. (ii) SEBK will promote activities of stock exchange by adopting flexible and adoptable approach in the following way: (a) SEBK will permit internet trading through registered stock brokers. (b) SEBK will make underwriting optional to reduce the cost of issue. (c) Even initial public offer of primary market is permitted through stock exchange. 3.Regulatory Functions:- SEBK will frame rules and regulations and a code of conduct to regulate the intermediaries such as merchant bankers, brokers, underwriters, etc. (ii) These intermediaries will be brought under the regulatory purview and private placement has been made more restrictive. (iii) SEBK will register and regulate the working of stock brokers, sub-brokers, share transfer agents, trustees, merchant bankers and all those who are associated with stock exchange in any manner. (iv) SEBK will register and regulate the working of mutual funds etc. (v) SEBK will regulate takeover of the companies. (vi) SEBK will conduct inquiries and audit of stock exchanges. Patricia Solberg,Liberale Parti Leader |
Proposals
Article 1
Proposal[?] to change The government's position towards the stock exchange(s).
Old value:: Stock exchanges are allowed and are unregulated.
Current: Stock exchanges are allowed and are unregulated.
Proposed: Stock exchanges are allowed but are regulated.
Debate
These messages have been posted to debate on this bill:
| Date | 10:07:25, February 05, 2017 CET | From | Venstre Kazulia(Liberal Party) | To | Debating the P.I.4161-Stock Exchanges Regulation Act |
| Message | Herr Huspresident, We the Liberal Parti av Kazulia, open this bill for debate. Patricia Solberg, Partileder,LPK |
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Voting
| Vote | Seats | |||
| yes |
Total Seats: 63 | |||
| no | Total Seats: 72 | |||
| abstain | Total Seats: 0 |
| Random fact: Jelbic = "Group of cultures with an overall Central Asian/Eurasian steppe theme, using a fictional language developed specifically for Particracy". |
| Random quote: "Hatred is gained as much by good works as by evil." - Niccolo Machiavelli |