San Nicolas proposes creating intrastate securities exchange - KUAM.com-KUAM News: On Air. Online. On Demand.

San Nicolas proposes creating intrastate securities exchange

Posted: Updated:

by Ken Quintanilla

Guam - Legislation aimed at kicking the island's buy-local effort up a notch goes up for a public hearing Friday. Bill 194 introduced by Senator Michael San Nicolas sets to create an instrastate securities exchange.

He explained, "What we're looking at doing is maturing our capital markets that we can grow our private sector. Right now, if you want to get your business started or grow your business, it's really just your own money or a bank giving you a loan that's going to help you do that financially. This bill is going to create a local capital market where local businesses can sell their shares to local investors."

San Nicolas adds the exchange would function much in the same way a stock market does adding it helps local people invest in our community by allowing them to buy and trade securities such as stocks and bonds from local companies. The bill further authorizes GEDA to manage the exchange. The public hearing is set for Friday at 2pm. 

  • NEWS HEADLINESMore>>

  • GCC, telecoms spearhead STEM program at Tiyan High

    GCC, telecoms spearhead STEM program at Tiyan High

    It's an effort to teach tech skills to our island's youth to start up Silicon Village. The Guam Community College, joined by island business leaders in Telecommunications, and the Guam Chamber of Commerce, launched GCC's newest Career and Technical EducatMore >>
    It's an effort to teach tech skills to our island's youth to start up Silicon Village. The Guam Community College, joined by island business leaders in Telecommunications, and the Guam Chamber of Commerce, launched GCC's newest Career and Technical EducatMore >>
  • Elderly man accused of molesting teen

    Elderly man accused of molesting teen

    A 77-year-old is behind bars accused of molesting a teen girl known to him. Doroteo Quintanilla Castro is charged with three counts of fourth degree criminal sexual conduct as a misdemeanor. Court documents detail the alleged incidents of him exposing himMore >>
    A 77-year-old is behind bars accused of molesting a teen girl known to him. Doroteo Quintanilla Castro is charged with three counts of fourth degree criminal sexual conduct as a misdemeanor. Court documents detail the alleged incidents of him exposing himMore >>
  • Archbishop addresses nearly 200 clergy sex abuse lawsuits

    Archbishop addresses nearly 200 clergy sex abuse lawsuits

    "We bear responsibility. We are culpable" - these words from Guam's Archbishop Michael Byrnes in his Message to the People of Christ. Last week, parties in the nearly 200 clergy sexual abuse lawsuits participated in mediation talks, but did not reach a glMore >>
    "We bear responsibility. We are culpable" - these words from Guam's Archbishop Michael Byrnes in his Message to the People of Christ. Last week, parties in the nearly 200 clergy sexual abuse lawsuits participated in mediation talks, but did not reach a glMore >>
Powered by Frankly