The Mauritius Investment Adviser Licence is one of the three classes of ‘Securities or Capital Market Intermediary’ provided for by the Securities Act 2005 and regulated by the Financial Services Commission (FSC) Mauritius under the Securities (Licensing) Rules 2007.
According to Section 30 of the Securities Act 2005, no unlicensed person is permitted to:
- 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
without an investment adviser licence issued by the FSC or without being licensed as a representative of an investment adviser by the FSC.
- Investment Adviser (Unrestricted) – The holder is authorised to manage, under a mandate, portfolios of securities and give advice on securities transactions, other than corporate finance advisory, through printed materials or any other means. The holder is required to maintain a minimum unimpaired stated capital of MUR600,000 (approx. USD13,600), or its equivalent in foreign currency.
- Investment Adviser (Restricted) – The holder is authorised to give advice on securities transactions, other than corporate finance advisory, through printed materials or any other means. The holder is required to maintain a minimum unimpaired stated capital of MUR500,000, or its equivalent in foreign currency.
- Investment Adviser (Corporate Finance Advisory) – The holder is authorised to provide corporate finance advisory services with respect to securities transactions through printed materials or any other means. Such services cover, amongst other things, compliance with the listing requirements of any security exchange, the raising of funds through the issue of securities, and arrangement or restructuring of a corporation, including takeovers and mergers and acquisitions. The holder is required to maintain a minimum unimpaired stated capital of MUR 1 million, or its equivalent in foreign currency. Investment Adviser (Corporate Finance Advisory)
