Permitted Activities
The permitted activities under an Investment Dealer (Full-Service Dealer excl. Underwriting) License are as follows:
Licensing Conditions
The FSC shall not grant an Investment Dealer (Full-Service Dealer excl. Underwriting) 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.
Investment Dealer Team
The applicant should ensure that at least two members are appointed on the investment dealer team to ensure business continuity.
The strength of the investment dealer team is a key component of the application.
Compliance Requirements
It is a requirement as per the FSC to appoint a Money Laundering Reporting Officer (“MLRO”) and a Deputy MLRO.
Minimum Unimpaired Capital
There is a requirement as per the Securities (Licensing) Rules 2007 to maintain a minimum stated unimpaired capital of MUR 1 million (equivalent to approx. USD 25,000).
The licensee shall inform the FSC immediately where its minimum stated unimpaired capital falls below the minimum required.
Regulatory Fees