Regulatory Alerts2021-01-01
Securities (Investment Advice) Rules 2021
The Financial Services Commission issued the Securities (Investment Advice) Rules 2021 to exempt specific licence holders from Section 30 of the Securities Act. The exemption applies specifically to holders of Robotic and Artificial Intelligence Enabled Advisory Services Licences, as detailed in the schedule. These rules took effect on 12 June 2021, streamlining regulatory compliance for AI-driven advisory service providers under the Financial Services Act framework.
Nushrat iMac3/Govt Notices/2021/Regulation Name / Date.Month.Year_1st Proof Government Notices 2021 1739 Government Notice No. 130 of 2021 THE SECURITIES ACT FSC Rules made by the Financial Services Commission under section 93 of the Financial Services Act and sections 30 and 155 of the Securities Act
- These Rules may be cited as the Securities (Investment Advice) Rules 2021.
- Section 30 of the Securities Act shall not apply to such categories of persons specified in the Schedule.
- These Rules shall come into operation on 12 June 2021. Made by the Financial Services Commission on 12 June 2021. SCHEDULE (Rule 2) A holder of a Robotic and Artificial Intelligence Enabled Advisory Services Licence issued under the Financial Services Act.