OVERVIEW OF REGULATORY FRAMEWORK
The capital market industry operates within certain regulatory frameworks. It is in the interest of Participants in this industry to adhere to the requirements of PNGPNG Papua New Guinea’s Securities Laws, in the course of offering their services. The SCPNGSCPNG Securities Commission of Papua New Guinea is currently developing a regulatory framework that facilitates the development of new financial products and institutions through research and ensuring fairness and orderliness in the capital markets industry. The SPNG’s regulatory framework comprises of the following:
Capital Markets Act 2015
Capital Markets Act 2015 establishes capital market infrastructures, provisions to issue licenses to market intermediaries, and regulates issuances of securities, bonds, and derivatives to the public.
Securities Act 1997 (Repealed)
The Securities Act 1997 (now repealed) was enacted in 1998 by Parliament to give effect to the establishment of the Port Moresby Stock Exchange. It was repealed and replaced by the Securities Commission Act 2015. A copy may be downloaded from here for reference purposes