Regulatory Alerts2021-01-01
Financial Services (Consolidated Licensing and Fees) (Amendment No. 3) Rules 2021
The Financial Services Commission issued these rules to amend the First Schedule of its Consolidated Licensing and Fees Regulations by adding a new category for Robotic and Artificial Intelligence Enabled Advisory Services. The amendment establishes application fees of Rs. 20,000 (USD 500) and annual fees of Rs. 76,000 (USD 1,900) under item FS-1.18. The updated licensing framework takes effect on 12 June 2021, formally integrating automated advisory providers into the existing regulatory structure.
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