Corporation holding a Category 2 Global Business License (GBC2) can invest in any securities exchange licensed under the Securities Act

Further to the enactment of the Finance Act 2016, Section 73(2) of the Financial Services act (FSA) has been amended to allow a GBC2 to invest in any securities exchange licensed under the securities Act.

For this purpose GBC2’s may now enter into business relationship with licensed investments dealers for the purpose of opening a securities account and investing in listed securities.

Licensed investment dealers and registered agents will be responsible for all the Customer Due Diligence requirements as ascribed under the Code on the Prevention of Money laundering and Terrorist Financing issued by the Financial Services Commission (FSC).

The respective clearing and settlement facilities of the securities exchanges shall submit to the FSC a monthly summary of aggregate purchases and sales in terms of number of shares transacted and amount under each security made by the GBC2.

Source: Financial Services Commission Mauritius