RegAlert2019-10-18
Added · Updated
Financial Services (Consolidated Licensing and Fees) (Amendment No.3) Rules 2019
The Financial Services Commission amended the licensing fee schedule under the Financial Services Act 2007 to introduce standardized fees for Investment Dealers, Representatives, and Foreign Investment Dealers engaged in derivatives trading. The rules update the First Schedule by inserting specific fee tiers for derivatives market participants and removing the "trading on SEM" designation from foreign dealer classifications. These regulatory amendments officially take effect on 16 November 2019 to streamline licensing charges across capital markets intermediaries.
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Government Notices 2019 2303
OliImac2/Govt Notices/FSC/ 4_Financial Services (Consolidated Licensing and Fees) (Amendment No.3) Rules 2019 - 2nd Proof 14/11/19 Government Notice No. 247 of 2019 THE FINANCIAL SERVICES ACT 2007 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. 3) Rules 2019. - 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 1 –
(a) in the table with title “Securities or Capital Markets Intermediaries” – (i) by inserting the following new item immediately after the item SEC-2.1B – SEC2.1C Investment Dealer (Derivatives) 29 Rs. 30,000 USD 1,000 Rs.90,000 USD 3,000 As per Stock Exchange (Brokerage) Regulations 1989 (ii) by inserting the following new item immediately after the item SEC-2.7C – SEC2.6Cv Representative of Investment Dealer (Derivatives) 29 Rs. 30,000 USD 1,000 Rs.90,000 USD 3,000 - (b) in the table with title “Foreign Investment Dealers trading on SEM”, by deleting in the heading, the words “trading on SEM”.
2304 Government Notices 2019
OliImac2/Govt Notices/FSC/ 4_Financial Services (Consolidated Licensing and Fees) (Amendment No.3) Rules 2019 - 2nd Proof 14/11/19 (c) in the table with title “Foreign Investment Dealers trading on SEM” – (i) by adding the item SEC-6.5 – SEC6.5 Foreign Investment Dealer (Derivatives) 29(3) USD 1,000 USD 3,000 -
4. These Rules shall come into operation on 16 November 2019.
Made by the Financial Services Commission on 18 October 2019.
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Lineage: In force
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