许照中:《孖展新规》进一步影响证券业 本地投资者活动能力已跌至空前最低
规管证券行孖展融资的《证券保证金融资活动指引》将於上周五(4日)生效。六福金融主席兼行政总裁许照中接受电台访问後表示, 现时一般券商本来已营运艰难,曾有个别券商接触他指有意结业,因此《孖展新规》的进一步收紧将会持续对行业造成影响。
他续指,对於当中要求将孖展金额收紧至为券商资本的5倍不感担心,认为券商一向有就此做好风险控制,最大问题是抵押成数需参考银行接受抵押水平,认为这会令券商被银行牵着走,令券商失却自行作商业决定的能力。他认为行业内的财务资源守则一直能有助行业控制风险,若加上《孖展新规》的话,对大券商的影响尤其大,因为大券商一般较有能力做大孖展业务。
对於证监会指在新规实施初期会酌情处理,他坦言此承诺很虚渺,因为规例推出後券商取态都是要跟指引,不会因为有酌情处理而违规。另外,若有倒闭潮出现,他相信首当其冲的是小型券商,内里的员工多是年资较大的老雇员。
在新股市场方面,他留意到百威亚太(01876.HK)上市没有太多散户申请,认为现时本地投资者活动能力已放缓到空前最低。
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