The Central Bank said in a statement on Friday that it was concerned about the “sharp disparity in the performance of primary dealers, as well as certain issues related to the pattern of trading activities.”
The statement in full; “The statement came after reports of sharp increases in reported profits of Perpetual Treasuries, in the wake of allegations of securities fraud. “The Monetary Board, at its special meeting on October 14 considered an interim report on the operations of primary dealers,including their financial performance during the year ended March 31, 2016 as well as the five month period ended August 31, 2016.
It noted with concern the sharp disparity in the performance of primary dealers, as well as certain issues related to the pattern of trading activities. In this connection, the Monetary Board instructed expeditious completion of the ongoing process of preparation of the relevant On-Site Examination Reports.
This would enable the Monetary Board to make an early determination on the future course of action.”