Investment Adviser Licence – Mauritius
Advise, guide or recommend other persons, or hold himself out to advise, guide or recommend other persons, whether personally or through printed materials or by other means, to enter into securities transactions; or
Manage or hold himself out to manage, under a mandate, whether discretionary or not, a portfolio of securities,
Type of Licence
Other key requirements
The applicant must establish procedures designed to prevent conflicts of interest and the use of inside information through the effective segregation of its different activities.
Details of the services to be provided, including the means through which the advice will be provided and whether the advice will be binding or non-binding.
The promoters, shareholders, directors, beneficial owners and key staff members must all comply with ‘fit and proper’ requirements.
Details of the proposed anti-money laundering and counter-terrorist financing (AML/CFT) framework, including the appointment of a Money Laundering Reporting Officer (MLRO), Deputy Money Laundering Reporting Officer (DMLRO) and Compliance Officer.
Members of the investment advisory team must have relevant experience and qualifications as required under the Securities Act 2005 and the applicant should ensure that at least two members are appointed to ensure business continuity.
An applicant is also required to meet the relevant ‘economic substance’ requirements when using a Global Business Company in compliance with the FSC Circular letter.