Regulatory Alerts2020-01-01
Securities (Licensing) (Amendment No. 2) Rules 2020
The Financial Services Commission issued the Securities (Licensing) (Amendment No. 2) Rules 2020 to amend the First Schedule of the principal licensing framework. These amendments modify the definitions of Relevant Qualification and Relevant field by granting the Commission discretion to recognize alternative qualifications and fields beyond those explicitly listed. The revised licensing criteria take effect on 3 September 2020 under the Financial Services Act 2007 and Securities Act 2005.
Leung / imac2 /Govt Notices/2020/Securities (Licensing) (Amendment) Rules 2020- 02.09.2020 - 1st Proof 650 Government Notices 2020 Government Notice No. 212 of 2020 THE SECURITIES ACT 2005 FSC Rules made by the Financial Services Commission under section 93 of the Financial Services Act 2007 and section 155 of the Securities Act 2005
- These Rules may be cited as the Securities (Licensing) (Amendment) Rules 2020.
- In these Rules, “principal rules” means the Securities (Licensing) Rules 2007.
- The principal rules are amended – (a) in the First Schedule by (i) deleting the words “as the Commission may consider appropriate. “in the definition of Relevant Qualification and replacing them by the following words “or any other qualification as may be considered appropriate by the Commission.” (ii) deleting the full stop after the word “Economics” in the definition of Relevant field and adding the following words “or any other field as may be considered appropriate by the Commission.”
- These Rules shall come into operation on 3 September 2020.
- Made by the Financial Services Commission on 3 September
–––––––––– Government Notices 2020 By Authority: Government Printing Department, La Tour Koenig 113/09/2020 – 1056