RegAlert
2015-05-04

Added · Updated

Financial Services (Establishment and Operations of Brokers and Dealers) Directive, 2015

The Registrar of Financial Institutions issued the Financial Services (Establishment and Operations of Brokers and Dealers) Directive, 2015 under the Financial Services Act, 2010. This directive establishes comprehensive licensing requirements, business conduct codes, and capital standards for brokers and dealers. It also revokes the Securities (Clearing and Settlement) Directive, 2011 to consolidate regulatory oversight.

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Reserve Bank of Malawi

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21st August, 2015
265

PART V—REVOCATION

  1. The Securities (Clearing and Settlement) Directive, 2011 is hereby revoked.

Made this 4th day of May, 2015.

(FILE NO.EA/FSPU/1/1)

C. S. R. CHUKA
Registrar of Financial Institutions

GOVERNMENT NOTICE No. 26

FINANCIAL SERVICES ACT, 2010 (ACT NO 26 OF 2010)

FINANCIAL SERVICES (ESTABLISHMENT AND OPERATIONS OF BROKERS AND DEALERS) DIRECTIVE, 2015

ARRANGEMENT OF PARAGRAPHS

PARAGRAPH

PART I—PRELIMINARY

  1. Citation
  2. Interpretation

PART II—OBJECTIVES
3. Objectives

PART III—LICENSING REQUIREMENTS
4. Licence requirement
5. Eligibility and application for a licence
6. Grant or denial of a licence
7. Licence renewal
8. Start up capital
9. Conditional licence
10. Revocation of licence

PART IV—BUSINESS CONDUCT
11. Code of conduct
12. Changes in shareholding and management
13. Know your customer
14. General requirements

PART V—CAPITAL, LIQUIDITY AND REPORTING REQUIREMENTS
15. Minimum net capital requirements
16. Liquidity requirements
17. Trading prohibition
18. Reporting requirements

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Lineage: In force

Securities (Clearing and Settle…Securities (Clearing and Settlement) Directive, 2011Financial Services(Establishment and Operations…2015-05-04 · this documentFinancial Services (Establishment and Operations of Brokers and Dealers) Directive, 2015 (2015-05-04)
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Source: Reserve Bank of Malawi — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works

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