Story: Stock market

Sharebroker's licence, 1872

Sharebroker's licence, 1872

Following the Sharebrokers’ Act of 1871, sharebrokers were required to pay a £25 licence fee and provide securities of £1,000. This was to discourage fly-by-nighters from setting up as brokers. John Mowbray, who gained this licence in 1872, was a founder of the Auckland Brokers’ Association and was its chairman from 1881 to 1884.

Courtesy of NZX

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Private collection, David Grant

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How to cite this page:

David Grant, 'Stock market - First stock exchanges', Te Ara - the Encyclopedia of New Zealand, http://www.TeAra.govt.nz/en/ephemera/23667/sharebrokers-licence-1872 (accessed 24 July 2019)

Story by David Grant, published 11 Mar 2010