Mauritius Foreign Investment Dealers

FSC Rules made by the Financial Services Commission under Section 93 of the Financial Services Act 2007 and Sections 29(3) and 155 of the Securities Act 2005.

These Rules shall apply to the authorization of foreign investment dealers whose activities shall be restricted to trading on a securities exchange.

Application for authorization

1. No foreign investment dealer shall deal on a securities exchange unless authorized by the Commission.
2. A foreign investment dealer may carry out the functions and activities of an investment dealer if authorized by the Commission in accordance with these Rules.
3. The Commission may authorize the applicant to act as an investment dealer if the Commission is satisfied that the applicant is exercising the functions of an investment dealer in a jurisdiction where there is a regulatory or supervisory framework consistent with international best practice.
4. An application for authorization shall be accompanied by:

(a) a statement from the relevant securities exchange that the foreign investment dealer will be admitted to deal on the securities exchange if authorized by the Commission;

(b) a certified true copy of the agreement entered between the foreign investment dealer and the foreign investment dealer agent;

(c) a certified true copy of the business licence of the applicant;

(d) either a certificate of good standing from the relevant foreign regulatory body, if the applicant is licensed or a statement from a lawyer authorized to practise law in the foreign jurisdiction certifying that the applicant is legally entitled to carry out the functions of an investment dealer in that jurisdiction, if the applicant is not licensed;

(e) a certified true copy of the certificate of incorporation of the applicant;

(f) a list of the documents submitted by the applicant to the relevant securities exchange; and

(g) any other information that the Commission may deem necessary.