Regulatory Alerts2022-01-01
Financial Services (Consolidated Licensing and Fees) (Amendment) Rules 2022
The Financial Services Commission issued these rules to amend the First Schedule of its consolidated licensing framework by introducing a new Money Lending category (FS-1.20) with specified fees of Rs. 43,000 (USD 1,000) and Rs. 82,000 (USD 1,900). The amendment formally updates the fee structure for financial service providers under the principal 2008 regulations. These rules took effect on 1 April 2022.
1420 Government Notices 2022 Government Notice No. 69 of 2022 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) Rules 2022.
- 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 item – FS-1.20 Money Lending 14 Rs. 43,000 (USD 1,000) Rs. 82,000 (USD 1,900)
- Commencement These Rules shall come into operation on 1 April 2022. Made by the Financial Services Commission on 1 April 2022.
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