• Locations
  • Desks
  • Awards
  • Careers
  • Solutions
  • Teams
  • Insights
  • Our Firm
  • Locations
  • Desks
  • Awards
  • Careers
© Copyright DFDL 2023. All Rights Reserved.
  • Privacy Policy
  • Solutions
  • Locations
  • Teams
  • Insights
  • Our Firm
  • Search
  • Contact Us
  • Back
Legal and Tax Updates

Myanmar Securities Exchange Law (1/4)

Aug 19 2013
Written by opmin-dfdl
The Securities Exchange Law was enacted on 31 July 2013.  It provides the framework for the establishment of a stock exchange.  While Myanmar already has a small stock exchange in operation with two listed securities, the lack of a comprehensive regulatory framework has prevented its development.  The Myanmar government appears to be determined to rectify the previous shortcomings with the enactment of this new law. 

The Securities Exchange Law:
  • establishes the securities and exchange commission, the main regulatory body which will supervise the securities market;
  • sets out the licenses available for securities businesses (dealing; brokerage; underwriting; investment advisory and company’s representative);
  • sets out the framework for the establishment of the stock exchange;
  • provides for the establishment of an over-the-counter market;
  • sets out the prohibited acts in relation to securities trading (e.g. insider trading) and the relevant penalties; and
  • provides for the establishment of a securities depository and clearing business.
The next important immediate step is for the associated rules, which will provide the necessary details of the Securities Exchange Law, to be issued.  Such rules should be issued within 90 days.

The next important immediate step is for the associated rules, which will provide the necessary details of the Securities Exchange Law, to be issued.  Such rules should be issued within 90 days.

Recent reports indicate that the proposed opening of the stock exchange is planned for 2015.

While this is an exciting development for the establishment of Myanmar’s capital markets, further progress must also be made to issue the implementing regulations required for the Securities Exchange Law, update the Myanmar company law legislation (which we understand is underway) and establish a robust regulatory and reporting framework which will be able to withstand the scrutiny of domestic and international investors.

Nonetheless, the new Securities Exchange Law is another step towards the modernization of Myanmar which brings promise of a bright future for the country.

Other Key Myanmar Legal Updates – July/August 2013

Myanmar Securities Exchange Law (¼)
Myanmar New Central Bank Law (2/4)
Myanmar Accedes to the New York Convention (¾)
New Myanmar Citizens Investment Law (4/4)
Contact
Ms. Regula Schmidhauser
Business Development Manager
Myanmar, Thailand and Lao PDR
regula@dfdl.com

opmin-dfdl
Bangladesh
View Profile

Related Articles

Legal and Tax Updates
Sep 21 2023
DFDL

Myanmar: Covering the Gap - Myanmar Issues E-Commerce SOP

Legal and Tax Updates
Sep 7 2023
Nishant Choudhary

Myanmar: DICA Announcement - Important Guidelines for MyCO System Users

Legal and Tax Updates
Aug 31 2023
Nishant Choudhary

Myanmar Investment Commission Unveils New Application System

Legal and Tax Updates
Aug 16 2023
Nishant Choudhary

Myanmar: Embraces Thai Baht - Currency Usage on the Rise

We provide practical and creative legal solutions
and insights to complex business challenges.

Sign up for our Newsletter
  • Solutions
  • Teams
  • Insights
  • Locations
  • Desks
  • Networks
© Copyright DFDL 2023. All Rights Reserved.
  • Privacy Policy