22 July 2015

FSC Mauritius: Public Notice - Suspension of Investment Dealer (Broker) Licence & Global Business Licence of Citygate Securities Limited

Notice is hereby given in accordance with Section 27 (1) and 74(6)(a) of the Financial Services Act 2007 (the ‘Act’) that the Investment Dealer (Broker) Licence and the Global Business Licence of CityGate Securities Limited (‘CSL’) have been suspended with immediate effect.

CSL has as registered address: CityGate Securities Limited, Belvedere Management Limited, 7A, 7th Floor, Ebene Mews, 57, Ebene Cyber City, Ebene.

The Financial Services Commission, Mauritius (the ‘Commission’) has taken this decision on the grounds that CSL has, inter alia, failed to comply with:

(i) the specific provisions provided under the Act;
(ii) the Code on the Prevention of Money Laundering and Terrorist Financing; and
(iii) the licensing conditions attached to its licences.

In accordance with Sections 27(5) and 74(3) of the Act, CSL shall cease to carry out the activities authorised under its licences. However, CSL remains subject to the obligations of a licensee and to the directions of the Commission until the suspension of the licences is cancelled.

Financial Services Commission, Mauritius
21 July 2015

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