Securities Act 2005 · FSC Mauritius
Mauritius Investment Dealer Licence
The Investment Dealer regime is the principal Mauritius securities licensing framework for brokerage and dealing businesses. The licence category must match the proposed model: execution, dealing as principal, portfolio management, investment advice, underwriting or a more limited brokerage service.
Licence at a glance
Regulatory Snapshot: Investment DealerFSC · Mauritius
Trading & dealing flow
How an application traces the trading process.
01Client onboardingKYC / CDD, suitability
→
02Order receiptInstruction & validation
→
03ExecutionPrincipal / agency, liquidity
→
04ConfirmationTrade / client reporting
→
05MonitoringRisk, controls, oversight
Scope
What a full-service dealer can do
- Act as an intermediary in the execution of securities transactions for clients.
- Trade in securities as principal with the intention of reselling them to the public.
- Give investment advice ancillary to its normal dealer activities.
- Manage client portfolios.
- Underwrite or distribute securities only where the licence category includes underwriting.
Evidence
What the application must demonstrate
- A clear business plan covering shareholders, products, target clients, jurisdictions, revenue model and 3-year financial projections.
- End-to-end trading flow: onboarding, order receipt, execution, liquidity / counterparty arrangements, confirmations and monitoring.
- Trading platform and technology arrangements, including third-party vendors where relevant.
- Client-money / asset segregation arrangements and a clear explanation of custody or safeguarding dependencies.
- Adequate governance, qualified investment-dealer representatives, compliance / AML leadership and operational staffing.
- Policies for AML/CFT, conflicts of interest, risk management, complaints, business continuity and internal controls.
How Ylexium advises
End-to-end support, from perimeter to launch.
- Licence-category and regulatory-perimeter assessment.
- Business-plan and financial-model development.
- Trading-flow, liquidity-provider and platform mapping.
- Governance, staffing and substance design.
- Compliance / AML / risk policy suite and client-document review.
- FSC application coordination, query responses and pre-launch readiness review.
A note on scope. Ylexium advises on licence category, business plan, trading-flow design, governance and application coordination. Implementation that requires a Mauritius licensed Management Company, auditor, bank, custodian or other regulated provider is coordinated with appropriately licensed independent providers.
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