Regulatory Alerts2024-01-01
Financial Services (Consolidated Licensing and Fees) (Amendment No. 2) Rules 2024
The Financial Services Commission issued these rules to amend the licensing and fee schedule for spot commodity-related financial service providers. The amendment adds six new licence categories, including spot commodity brokers, clearing houses, and trading advisers, to the First Schedule of the 2008 principal rules with fixed annual fees ranging from USD 500 to USD 11,000. Fees for entities without a Global Business Licence may be converted to Rupees using the Bank of Mauritius indicative exchange rate, and the regulations commenced operation on 9 February 2024.
Nushrat / Imac 02 / Govt Notices / 2023 / The Income Tax (Amendment) Regulations 2023 - 05.07.2023 - 1st Proof_Ministry / SLO 56 Government Notices 2024 Nushrat / Imac 02 / Govt Notices / 2024 /he Financial Services (Consolidated Licensing and Fees) (Amendment No. 2) Rules 2024 1st Proof_Ministry / SLO - 07.02.2024 - 1st Proof Mins/SLO Government Notice No. 22 of 2024 THE FINANCIAL SERVICES ACT FSC Rules made by the Financial Services Commission under Section 93 of the Financial Services Act
- These Rules may be cited as the Financial Services (Consolidated Licensing and Fees) (Amendment No. 2) Rules 2024.
- In these Rules – “principal rules” means the Financial Services (Consolidated Licensing and Fees) Rules 2008.
- The First Schedule to the principal rules is amended, in PART I, under the heading “Financial Service Providers/ Activities,” by adding the following new items – Code Licence Section of the Act Processing Fee Fixed Annual Fee Variable Annual Fee FS1.21 Spot commodity broker 14 USD 1,000** USD 2,000** - FS1.22 Spot commodity broker’s representative 14 USD 500** USD 1,000** - FS1.23 Spot commodity clearing house 14 USD 5,500** USD 11,000** -
Government Notices 2024 57 Nushrat / Imac 02 / Govt Notices / 2024 / The Independent Broadcasting Authority (Administrative Penalties) Regulations 2024. - 05.08.2024 - 1st Proof_Ministry / SLO Nushrat / Imac 02 / Govt Notices / 2023 / The Income Tax (Amendment) Regulations 2023 - 05.07.2023 - 1st Proof_Ministry / SLO Nushrat / Imac 02 / Govt Notices / 2024 /he Financial Services (Consolidated Licensing and Fees) (Amendment No. 2) Rules 2024 1st Proof_Ministry / SLO - 07.02.2024 - 1st Proof Mins/SLO Nushrat / Imac 02 / Govt Notices / 2024 /he Financial Services (Consolidated Licensing and Fees) (Amendment No. 2) Rules 2024 1st Proof_Ministry / SLO - 07.02.2024 - 1st Proof Mins/SLO FS1.24 Spot commodity market 14 USD 5,500** USD 11,000** - FS1.25 Spot commodity trading adviser 14 USD 1,000** USD 2,000** - FS1.26 Spot commodity trading adviser’s representative 14 USD 500** USD 1,000** - **For applicant not applying for a Global Business Licence or corporation not holding a Global Business Licence, the corresponding fee in Rupees (Rs.) shall be calculated based on the Indicative Exchange Rate as computed by the Bank of Mauritius as at date of payment. 4. Commencement These Rules shall come into operation on 9 February 2024. Made by the Financial Services Commission on 7 February 2024.