Countries › Dominican Republic › Guide › 10. Capital markets and finance › Securities brokers, advisers and market infrastructure in the Dominican Republic
Securities brokers, advisers and market infrastructure in the Dominican Republic
Last verified: 2026-10-30 · Status: Changing
Dealing and broking in registered securities is exclusive to licensed intermediaries, which need RD$50 million of cash capital, indexed. Advisers register separately. Client funds are segregated, commissions are free, and no one may hold over 10% of an exchange or 30% of the central depository.
USD figures use the Banco Central de la República Dominicana reference selling rate of RD$60.9007 per US dollar for 29 October 2026, rounded to the cent.
Key facts
| Broker licence required | Yes textLey 249-17 art. 155 and 156, as of 2026-10-30 · in force |
|---|---|
| Broker minimum capital, base | 50000000 DOPLey 249-17 art. 156, as of 2026-10-30 · in force |
| Reference selling rate used for USD conversions | 60.9007 DOP per USDBanco Central reference rate, as of 2026-10-29 · in force |
The rule
1. Habitual negotiation of registered securities, order handling, broking, acting as commission agent and primary placement on trading mechanisms are exclusive to securities intermediaries.Ley 249-17 del Mercado de Valores, art. 155, 2017-12-19 official text · verified 2026-10-30
2. Intermediaries need subscribed and paid capital of at least RD$50,000,000 in cash, indexed annually, plus the equity and guarantees for their activity range.
Example: RD$50,000,000 before indexation / US$821,008.63Ley 249-17 del Mercado de Valores, art. 156 numeral 1, 2017-12-19 official text · verified 2026-10-30
Example: RD$50,000,000 before indexation / US$821,008.63Ley 249-17 del Mercado de Valores, art. 156 numeral 1, 2017-12-19 official text · verified 2026-10-30
3. Accounting equity must stay at or above the minimum capital.Reglamento para los Intermediarios de Valores, R-CNMV-2019-21-MV, art. 197, 2019-08-13 official text · verified 2026-10-30
4. Authorized activities include own account and client dealing, repos, short selling, securities lending, margin loans, placing and structuring.Ley 249-17 del Mercado de Valores, art. 157, 2017-12-19 official text · verified 2026-10-30
5. Commissions are set freely but must be disclosed to the public, exchanges and regulator.Ley 249-17 del Mercado de Valores, art. 163, 2017-12-19 official text · verified 2026-10-30
6. Short sales are sales of securities previously borrowed under art. 165.Ley 249-17 del Mercado de Valores, art. 166, 2017-12-19 official text · verified 2026-10-30
7. Margin loans may be made only to buy registered securities, against the client's public offering securities.Ley 249-17 del Mercado de Valores, art. 167, 2017-12-19 official text · verified 2026-10-30
8. Client money and securities must be kept separate.Ley 249-17 del Mercado de Valores, art. 169, 2017-12-19 official text · verified 2026-10-30
9. Investment advisers must register and be authorized; individuals must show qualifications and experience.Ley 249-17 del Mercado de Valores, art. 174, 2017-12-19 official text · verified 2026-10-30
10. Rating of public offering securities is mandatory, at the issuer's cost, and the regulator can require a second rating.Ley 249-17 del Mercado de Valores, art. 179 and art. 180, 2017-12-19 official text · verified 2026-10-30
11. No one, except another market operator, may own over 10% of a trading mechanism operator, or over 30% as a financial group.Ley 249-17 del Mercado de Valores, art. 276, 2017-12-19 official text · verified 2026-10-30
12. No person may own over 30% of a central depository, subject to the exception for market operators.Ley 249-17 del Mercado de Valores, art. 307, 2017-12-19 official text · verified 2026-10-30
13. Only registered intermediaries may trade in the foreign securities listing.Ley 249-17 del Mercado de Valores, art. 77, 2017-12-19 official text · verified 2026-10-30
14. Intermediation rules were amended by R-CNMV-2025-30-MV of 9 December 2025.R-CNMV-2025-30-MV, whole resolution, 2025-12-09 official text · verified 2026-10-30 · changed: Amendment of the intermediaries regulation, December 2025, listed by the regulator. Its text was not retrievable at verification.
Worked example
- A broker with the base capital of RD$50,000,000 (US$821,008.63) must keep accounting equity of at least that amount, and more once the statutory figure is indexed and depending on its activity range.
Step by step
- Form a company with exclusive object.
- File for authorization with capital, policies and systems.
- Join an exchange as an affiliate.
- Open depository accounts for own and client positions.
- Set client suitability and best execution procedures.
Common traps
- Foreign brokers soliciting Dominican clients should test art. 155 and art. 48 first.
- The base amounts are indexed; the current figure is not given in the law.
- The December 2025 amendment may change ranges, so read it with the 2019 text.
Sources
- Ley 249-17
- Reglamento para los Intermediarios de Valores
- Regulations list, Superintendencia del Mercado de Valores
Related pages
- finance/public-offerings-and-listings
- finance/investment-funds-and-asset-managers
- fx/investing-abroad-from-the-dominican-republic
Related: Dominican Republic country profile · live dashboard · central bank and release calendar · our posts on X
Get rule changes weekly
Free. One email a week from The LatAm Thread.
One more step after you press the button: we take you to Substack, where your email is already filled in. Confirm there to start. No spam, unsubscribe anytime, we never share your address. By subscribing you agree to the privacy policy.