Regulatory Alerts2013-01-01
Financial Services (Consolidated Licensing and Fees) (Amendment No. 4) Rules 2013
The Financial Services Commission of Mauritius issued these rules to amend the 2008 Consolidated Licensing and Fees Regulations by introducing a standardized fee schedule for Foreign Investment Dealers trading on the Stock Exchange of Mauritius. The amendments establish four distinct licensing codes that specify processing fees, fixed annual fees, and applicable brokerage charges based on dealer services. These updated licensing requirements officially commenced operations on 12 December 2013 under the authority of the Financial Services Act 2007 and Securities Act 2005.
The text below is an internet version of the Rules made by the Financial Services Commission under section 93 of the Financial Services Act 2007 and section 155 of the Securities Act 2005 and is for information purposes only. Whilst reasonable care has been taken to ensure its accuracy, the authoritative version is the one published in the Government Gazette of Mauritius (GN No. 294 of 2013) FINANCIAL SERVICES (CONSOLIDATED LICENSING AND FEES) (AMENDMENT NO. 4) RULES 2013 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.
- Citation These Rules may be cited as the Financial Services (Consolidated Licensing and Fees) (Amendment No. 4) Rules 2013.
- Interpretation “principal Rules” means the Financial Services (Consolidated Licensing and Fees) Rules
- The principal Rules amended The principal Rules are amended in Part 1 of the First Schedule by inserting the following table immediately after the table “Foreign Investment Dealers trading on GBOT” –
Foreign Investment Dealers trading on SEM Code Authorisation Relevant Section of Securities Act 2005 Processing Fee (US $) Fixed Annual Fee (US $) Other Fees SEC-6.1 Foreign Investment Dealer (Full Service Dealer including underwriting) S 29(3) ($ 3,000) ($ 7,500) Brokerage Fees payable under the Stock Exchange (Brokerage) Regulations 1989 or any other enactment, as may be applicable. SEC-6.2 Foreign Investment Dealer (Full Service Dealer excluding underwriting) S 29(3) ($ 750) ($ 2,000) SEC-6.3 Foreign Investment Dealer (Broker) S 29(3) ($ 500) ($ 1,750) SEC-6.4 Foreign Investment Dealer (Discount Broker) S 29(3) ($ 250) ($ 1,250) 4. Commencement These Rules shall come into operation on 12 December 2013. Made by the Financial Services Commission on 5 December 2013.