
Knowledge Highlights 30 May 2023
Knowledge Highlights 2 April 2020
On 6 March 2020, the Securities and Exchange Commission of Myanmar (“SECM”) issued an instruction (“Instruction”) prescribing the requirements that securities companies shall adhere to for the opening of securities accounts by foreigners to enable daily share trading of listed company shares on the Yangon Stock Exchange (“YSX”). Trading of listed company shares on the YSX by foreigners is allowed from 20 March 2020.
1. Applicability
Both a resident foreigner and a non-resident foreigner, as defined in the Foreign Exchange Management Law (“FEML”), can apply for a securities account. The FEML defines a resident as follows:
2. Establishment of securities account
3. Additional requirements