Regulatory Alerts2020-01-01
Securities (Solicitation) Rules 2020
The Financial Services Commission promulgated the Securities (Solicitation) Rules 2020 to exempt designated license holders from Section 31 of the Securities Act 2005. These rules specifically remove solicitation restrictions for holders of Trading Securities Systems Licences and Robotic and Artificial Intelligence Enabled Advisory Services Licences. Effective 11 June 2020 and updated by Government Notice No. 131 of 2021, the regulations facilitate automated trading and AI-driven advisory operations by clarifying their regulatory obligations.
The text below is an internet version of the Rules made by the Financial Services Commission under the Securities Act 2005 and the Financial Services Act 2007 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. THE SECURITIES ACT 2005 FSC Rules made by the Financial Services Commission under section 93 of the Financial Services Act 2007 and sections 31 and 155 of the Securities Act 2005
- These rules may be cited as the Securities (Solicitation) Rules 2020.
- In these rules – “Trading Securities Systems Licence” means a licence issued under section 11 of the Securities Act.
- Section 31 of the Securities Act shall not apply to such categories of persons specified in the Schedule.
- These rules shall come into operation on 11 June 2020. Made by the Financial Services Commission on 11 June 2020. 1
SCHEDULE (Rule 3) A holder of a Trading Securities Systems Licence A holder of a Robotic and Artificial Intelligence Enabled Advisory Services Licence Amended by [GN No 131 of 2021] 2