The Role of Stockbrokers in PNG’s Capital Market
A stockbroker is a middleman that assists investors by buying and selling shares on their behalf. Stockbrokers are independent financial advisors providing advice to their clients on all forms of investments including investment in shares and a range of other products that they offer to their clients.
Shares listed on PNGX can only be bought or sold through a registered Participating organisation approved by PNGX.
By law, not just anyone can call themselves a stockbroker. There are strict and prudent requirements set out by the Capital Market Act and administered by the Securities Commission of Papua New Guinea that individuals and companies meet in order to be granted a licence.
PNGX Participation and the Role of Licensed Stockbrokers
PNGX also has its set of requirements that each company must meet in order to be granted membership as a participating organisation and given permission to trade on the PNGX trading platform. Individuals cannot become members of PNGX.
The areas of responsibility a stockbroker deals with are wide and varied in nature. The primary function of a stockbroker is to advise clients on investments and ensuring that sales and purchases of share transactions are effected between buyers and sellers
A Papua New Guinean stockbroker is subject to the supervision of both the Securities Commission and PNGX.
Level 3, ADF Haus,
Musgrave Street,
PO Box 2064
Port Moresby NCD
Papua New Guinea
Harbour City Branch, Level 2
PO Box 1141, Port Moresby NCD 121
PAPUA NEW GUINEA
Telephone +675 308 3638 | Ext. 3638 Mobile +675 7240 9827
Email: Christopher.Yatu@kinabank.com.pg
Level 9, Kina Bank Haus
Douglas Street, Port Moresby
National Capital District 121
Papua New Guinea