New Capital Floor Set for Financial Institutions

The Securities and Exchange Organization has announced new guidelines raising the minimum capital of financial institutions operating in the capital market.
This was communicated to investment banks, market makers, financial consultants and financial data processing companies by the SEO’s Department for Supervising Financial Institutions.
Accordingly, the minimum capital for investment banks must not be less than 10 trillion rials ($35 million), the Securities and Exchange News Agency (SENA) reported.