A securities firm mentioned in item 1 of this article refers to an unincorporated entity with business operation under the securities firm such as branch company and securities business outlet.

27. There are three main categories of private resource flow loans, foreign direct investment (FDI), and portfolio equity investment.

The non monetary property amount shall not exceed 30 of registered capital of securities firms.

Moreover, market volatility of portfolio investments was not a serious problem in Africa (especially in equity markets in Egypt and South Africa), particularly when compared to other markets.

Does the Libyan Arab Jamahiriya impose controls on the cross border movement of cash, negotiable instruments, precious stones and metals?

39. Of the three forms of private capital flow (loans, FDI and portfolio equity), FDI and portfolio equity investments are more relevant in the present context of African economies.

Article 38 If a securities firm is engaged in securities brokerage business, it can entrust staff outside of the securities firm as securities broker, engaging in attracting and providing service for customers as agent.

South Africa was the only country in sub Saharan Africa to issue on international bond or equity markets in 1997.

Article 48 Securities lending and borrowing referred to in this article means that in the securities trading at the stock exchange or other securities trading places that have been approved by the State Council, securities firms lend capital or securities to customers for them to buy or sell securities based on the corresponding collaterals provided by the customers.

Net portfolio flows displayed in the table have also been volatile and, since 2000, appear to have turned significantly negative.

(3) Where a securities firm does not report its security self operation accounts or portfolio accounts of its clients to a security exchange for file according to provisions

Article 41 A securities firm engaged in securities business for its own account is limited to trading of legally issued stocks, bonds, warrants, securities investment funds or other securities recognized by the securities regulatory agency under the State Council.

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Securities brokers can only accept entrustment of one securities firm for customer attracting and service activities.

The securities broker should have securities working qualification.

The securities business license should be written with business scope of such securities firm or its domestic branch.

Without securities business license, the securities firm and its domestic branch shall not run securities business.

(3) Where any securities broker accepts entrustments of many securities firms at the same time and undertakes activities including client solicitation and client service

Securities account opened by the securities firm for securities assets management customer should be submitted to stock exchange for filing within 3 trading days.

Article 76 A securities firm shall undertake real time monitoring on trading behaviors of its self operation accounts and portfolio management accounts.

Article 42 When a securities firm is engaged in self run business, it should use self run securities accounts with its true name.

The securities firm should sign entrustment contracts with securities brokers who accept such entrustment, issue securities broker certificate, define authorized scope of securities broker and supervise working behavior of securities broker.

(3) Where a securities firm, an asset management agency, a securities registration and clearing agency use trading settlement funds, trust funds and funds and securities in secured accounts of clients in violation of provisions

(a) Different types of capital flows (foreign direct investment, portfolio investments, borrowing etc.) have very different degrees of beneficial effects.

Except for circumstances prescribed in Article 54 of this Regulation or other agreements reached by the securities firm and customers according to law, the securities firm shall not use the securities or fund in the customer guarantee accounts.

(5) Securities service agencies provided services for a securities firm.

Article 44 If a securities firm is engaged in self run securities business, its risk controlling indicators such as ratio of total securities value and company net capital, ratio of value of one type of securities and net corporate capital, and ratio of quantity of one type of securities and total issuing quantity of this type of securities should comply with prescription of the securities regulatory agency under the State Council.

Article 32 A securities firm should establish information inquiring system to ensure customers inquiring entrustment record, trading record, securities and balance during business hours of the securities firm, as well as other information such as name, practice license of the business operator and securities broker of the securities firm, certificate number of securities broker, etc.

Securities brokers should work within authorized scope of the securities firm and show securities broker certificates to customer.

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(2) Where any securities broker who engaging in businesses does not present his her certificate of securities broker to his her client

The types of securities that can be lent to the customer by the securities firm and can be bought with the funds lent to the customer by the securities firm, the types and coefficient of the securities that can be used as deposit, the time limit for securities lending and borrowing, the minimum guarantee maintenance ratio and the time limit for making up the difference shall be determined by the stock exchange.

Self run securities accounts of the securities firm should be submitted to the stock exchange for filing within 3 trading days of account opening.

The ECB has already attempted to ease credit conditions by purchasing high quality asset backed securities. It has bought securities backed by cash flows from private sector mortgages, so called covered bonds, and it has floated the idea of buying corporate bonds and multilateral securities issued by the European Investment Bank.

Article 56 Where a securities firm carries out securities lending and borrowing but does not have sufficient funds or securities, it can borrow from the securities financial companies.

(5) Where an asset management agency and a securities registration and clearing agency does not report to the securities regulatory agency of the State Council when it finds trust funds and assets and securities in secured accounts of clients are used in violation of provisions.

3 Trade securities or maneuver securities market with insider information

Article 26 If a securities firm and its domestic branch are engaged in securities business prescribed in Article 125 of the Securities Law, they should follow the Securities Law and provisions of this Regulation.

Securities can be used as the deposit.

(4) Deposit banks, designated commercial banks, asset management agencies, security exchanges, securities registration and clearing agencies of a securities firm

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(g) Securities regulation