With the 60 per cent that SEC is willing to part with, the balance 40 per cent will be channeled to the capital market development fund. Attempts at contacting SEC officials failed. Brokers argue that they deserve more as they started the CSE more than three decades ago without any assistance. With the 60 per cent, each broker will get a maximum of 5 per cent. Demutualisation has been discussed for more nearly a decade, with officials noting that it’s about time something actually happened.

Source: Sunday Times March 20, 2018 06:56 UTC