Stockbrokers to meet MSE next week

by Anthony Manduca

The Council of the Malta Stock Exchange has finally replied to a letter it received from local stockbrokers dated 26 June, in which the stockbrokers expressed their concern over plans to liberalise their practice immediately.

In a letter sent to all stockbrokers dated yesterday, the Stock Exchange Council informed them that it was not possible for all the issues raised in their June letter to be dealt with in one meeting.

"It is therefore being proposed that the first in a series of consultative meetings between the Exchange and the stockbrokers will be held on Tuesday 29 August 2000, at 12.00 hours at the Exchange," the letter said.

The agenda for this first meeting is: The role of stockbrokers and their permitted business, the Legal Notice 124/2000 and the restructuring of the Stock Exchange fees.

The letter made it clear that the meeting is to be restricted to stockbrokers but that "Mr Vince Farrugia will attend the meeting on the personal invitation of the chairman".

Mr Farrugia, the director general of the GRTU, was approached by stockbrokers to argue their case with the Malta Stock Exchange, The Malta Business Weekly has learnt.