Regulatory Alerts2020-01-01
Financial Services (Consolidated Licensing and Fees) (Amendment No. 1) Rules 2020
The Financial Services Commission amended the Consolidated Licensing and Fees Rules 2008 to establish dedicated licensing categories for Single and Multiple Family Offices. The amendment specifies a USD 2,500 processing fee and USD 5,000 fixed annual fee for Single Family Offices, alongside a USD 5,000 processing fee and USD 10,000 fixed annual fee for Multiple Family Offices. These updated licensing provisions and fee structures officially take effect on 7 March 2020.
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