Mauritius finance company

Mauritius securities or capital market intermediaries license

    • Categories of Investment Dealer: Any person who, by way of business, intends to carry out any of the activies of investment dealer under section 29 of the Act shall apply for a license as an investment dealer in one of the following categories;
  1. Full Service Dealer – authorized to:
    • act as intermediary in the execution of securities transactions for clients;
    • trade in securities as principal with the intention of reselling these securities to the public;
    • underwrite or distribute securities on behalf of an issuer or a holder of securities;
    • manage portfolios of clients.
  2. Broker – authorized to: execute orders for clients, to manage portfolios of clients and to give advice on securities transactions to clients;
  3. Discount broker – authorized to: execute orders for clients without giving advice;
    • The Commission shall not grant a licence under paragraph (1) unless it is satisfied that the applicatn meets all the requirements of these rules, and in particular the minimum stated unimpaired capital requirement
    • A financial institution shall not apply for an investment dealer license unless it has constituted a subsidiary which can meet all the requirements of these rules.
    • Categories of Investment Adviser license: Every person who, by way of business, intends to carry out any of the activities of an investment adviser under section 30 of the Act, shall apply for a license in one of the following categories:
      1. Unrestricted – authorized to: manage, under a mandate, portfolios of securities and give advice on securities transactions through printed materials or any other means;
      2. Restricted – authorized to give advice on securities transactions through printed materials or any other means;
  • Activities Authorized
    • A licensed investment dealer or investment adviser may solicit any person to enter into securities transactions
    • The license shall indicate the activies that the investment dealer or the investment adviser is authorized to exercise
    • The Commission may limit the number of activities that an investment dealer may exercise where it feels that the dealer does not have the material or financial resources necesary to carry out some of its activities.
    • A licensed investment dealer or investment adviser shall obtain prior approval of the Commission for any modification of its license.
  • Representative of Investment Dealer
    • No individual shall carry out any of the securities activities of an investment dealer unless he is licensed as representative of the investment dealer under one of the Types specified in the Third Schedule, as applicable
    • The Commission shall not grant a license under paragraph (1) unless it is satisfied that the applicant holds such qualifications specified in the Third Schedule or an equivalent qualification as it may approve, and meets all the requirements of these rules
    • An investment dealer shall at all times employ at least one representative, who shall be entitled to carry out the functions of the investment dealer, holding a license under the folloing Type, as applicable
  1. For an Investment Dealer (Full Service Dealer) – a Degree in a relevant field and at least 8 years of relevant experience in investment business;
  2. For in Investment Dealer (Broker) – a Degree in a relevant field and at least 4 years of relevant experience in investment business;
  3. For an Investment Dealer (Discount Broker) – a Diploma course in a relevant field and at least 2 years of relevant experience in investment business.
  4. Notwithstanding paragraph (2) and (3) the commission may consider an application from a person, licensed or deemed to be licensed as a stockbroker or dealer`s representative under the repealed Stock Exchange Act 1988, for a license as representative of an investment dealer as it may deem appropriate.
  • Representative of Investment Adviser
    • No individual shall carry out any of the securities activities of an investment adivser unless he is licensed as a representative of the investment adviser.
    • The commission shall not grant a license under paragraph (1) unless it is satisfied that the applicant holds such qualifications specified in the Third Schedule or an equivalent qualification as it may approve, and meets all the requirements of these rules.
    • An investment adviser, as the case may be, shall at all times employ or be represented by at least one representative, as specified in the Thrid Schedule, who is entitled to carry out the functions of the investment adviser.
    • The Commission may consider an application from a person, licensed or deemed to be licensed as a stockbroker or dealer`s representative under the repealed Stock Exchange Act 1988, for a license as representative of an investment adviser, as it may deem appropriate.
  • Licensing Conditions for Investment Dealers
    • The Commission shall not grant a full service investment dealer license, unless it is satisfied that the applicant has established procedures designed to prevent conflicts of interest and the use of inside information by an effective segregation of its different activities
    • The procedures mentioned in paragraph (1) shall ensure that the investment decisions concerning the portfolio of clients shall not be communicated or be available to any unauthorized third party.
  • Licensing Conditions for Investment Advisers

    • In order to obtain an unrestricted license, an investment adviser shall provide sufficient justification to the Commission as to the competence of the persons who will be responsible for investment advice and the management of portfolios.


  • Licensing Conditions for Representatives
    • Applicants for a license as a representative of an investment dealer or of an investment adviser shall satisfy the Commission that they hold such appropriate training or qualification as may be deemed necessary and as the Commission may specify from time to time.
    • Notwithstanding paragraph (1), the Commission shall consider such other training, membership to recognised professional bodies or qualifications as it deems acceptable.
    • The investment dealer and investment adviser shall demostrate to the Commission that any person acting as its representative is propertly qualified. If you would like to get more information about Mauritius Securities, Brokerage or Forex licensed company, please contact us.

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