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2009-01-01

Financial Services (Consolidated Licensing and Fees) (Amendment) Rules 2009

The Financial Services Commission of Mauritius amended the Financial Services (Consolidated Licensing and Fees) Rules 2008 to introduce two new licence categories for capital market intermediaries. The amendment updates the First Schedule by adding Investment Dealer licences for commodity and currency derivatives segments, each specifying corresponding Securities Act sections, processing fees of Rs. 30,000 (US$1,000), and fixed annual fees of Rs. 90,000 (US$3,000). These updated licensing and fee requirements commenced on 1 November 2009 under the authority of the Financial Services Act 2007, Securities Act 2005, and Insurance Act 2005.

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The text below is an internet version of the rules, with amendments, issued by the Commission under the Financial Services Act 2007, the Securities Act 2005 and the Insurance Act 2005 and is for information purpose only. Whilst reasonable care has been taken to ensure its accuracy, the authoritative version is the one published in the Government Gazette of Mauritius. FINANCIAL SERVICES (CONSOLIDATED LICENSING AND FEES) (AMENDMENT) RULES 2009 FSC Rules made by the Financial Services Commission under section 93 of the Financial Services Act 2007, section 155 of the Securities Act 2005 and section 130 of the Insurance Act 2005.

  1. Citation These Rules may be cited as the Financial Services (Consolidated Licensing and Fees) (Amendment) Rules 2009.

  2. Interpretation In these Rules- “principal Rules” means the Financial Services (Consolidated Licensing and Fees) Rules 2008.

  3. First Schedule of the principal Rules amended Part 1 of the First Schedule to the principal Rules is amended in the table for “Securities or Capital Market Intermediaries” by adding two items immediately after the item “Representative of Investment Adviser (Restricted)” as set out in the Schedule to the present Rules.

  4. Commencement These Rules shall come into operation on 1 November 2009. Made by the Financial Services Commission on 26 October 2009.

SCHEDULE [Rule 3] Securities or Capital Market Intermediaries Code Licence Relevant Section of Securities Act 2005 Processing Fee (Rupees/US$) Fixed Annual Fee (Rupees/US$) Other Fee SEC-2.8 Investment Dealer (Commodity Derivatives Segment) S 29 Rs. 30,000 ($ 1000) Rs. 90,000 ($ 3000)

SEC-2.9 Investment Dealer (Currency Derivatives Segment) S 29 Rs. 30,000 ($ 1000) Rs. 90,000 ($ 3000)

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