Regulatory Alerts2021-01-01
Securities (Solicitation) (Amendment) Rules 2021
The Financial Services Commission amended the Securities (Solicitation) Rules 2020 to extend solicitation obligations to holders of Robotic and Artificial Intelligence Enabled Advisory Services Licences. The amendment modifies the principal rules' schedule by adding a specific item that classifies these licence holders under the existing regulatory framework. These rules officially come into operation on 12 June 2021.
1740 Government Notices 2021 By Authority: Government Printing Department, La Tour Koenig 80/06/2021 – 1150 Government Notice No. 131 of 2021 THE SECURITIES ACT FSC Rules made by the Financial Services Commission under section 93 of the Financial Services Act and sections 31 and 155 of the Securities Act
- These Rules may be cited as the Securities (Solicitation) (Amendment) Rules 2021.
- In these Rules – “principal rules” means the Securities (Solicitation) Rules 2020; “Robotic and Artificial Intelligence Enabled Advisory Services Licence” means a licence issued under section 14 of the Financial Services Act.
- The Schedule to the principal rules is amended by adding the following new item – A holder of a Robotic and Artificial Intelligence Enabled Advisory Services Licence
- These Rules shall come into operation on 12 June 2021. Made by the Financial Services Commission on 12 June 2021.
Share