BROKING EXAMS.

Press, Volume CIII, Issue 30368, 18 February 1964, Page 17

BROKING EXAMS.

Local Views News that the London Stock Exchange has decided that stockbrokers must take an examination to prove they are fitted to advise their clients has met with mixed comment from members of the Christchurch Stock Exchange. Many are in favour of examinations being held in New Zealand. Others are reluctant to be drawn into expressing an opinion. The chairman of the Christchurch Stock Exchange (Mr H. J. Shand) said yesterday that such an examination in New Zealand would have a tremendous lot to recommend it. “The suggestion is not new—it has been considered by the New Zealand Stock Exchange and, no doubt, will be considered again,” he said. One sharebroker said the standing of the profession, although already high, would benefit greatly from the introduction of such an examination. Brokers and their profession would be put on an even higher standard. He said that a' course of lectures had been instituted to educate the public in share dealing, so stockbrokers should do something similar for themselves. “At present the need for such an examination is not urgent, but it should come in due course,” he said. Another stockbroker expressed the view that an examination would be "a very good thing.” This was particularly so for anyone without background experience.

“It is quite wrong that anyone without the necessary knowledge should give advice on share investment or value deceased estate holdings,” he said. There was already a good safeguard in that a prospective broker had to have at least 12 months’ experience on specialised work as an authorised clerk before the committee would consider him for election, he said.

Davies Coop, Ltd. Pass Int. Div.

(N.Z. Press Assn.—Copyright) MELBOURNE, February 17. Davies Coop and Company, Ltd., cotton spinners, weavers and garment manufacturers, report that turn-over for the group for the six months to December 31, exceeded that of the corresponding period of the previous year. No interim dividend has been declared on ordinary stock in the company. However, an interim preference dividend of 3 per cent absorbing £9OOO has been declared.

Peters Ice Div.—Peters Ice Cream (Victoria) Ltd., has declared a steady 6 per cent interim dividend for the half-year ended December 31. —(P.A.)