GBC2 may now invest in any securities exchange listed
GBC2s may now invest in any securities listed on a securities exchange licensed under the Securities Act. This is due to an amendment in the enactment of The Finance (Miscellaneous Provisions) Act 2016, Section 73 (2) of the FSA. It was made public in the recent FSC Mauritius Circular Letter (CL181016).
First of all, this amendment impacts business relationships of GBC2s with licensed investment dealers. GBC2s may now enter into business relationships with licensed investment dealers. Furthermore, GBC2s can open a securities account and investing in listed securities for investment dealers.
Most noteworthy, the respective clearing and settlement facilities of securities exchanges must submit a monthly summary to the FSC. Finally, the summary should include aggregate purchases and sales in terms of number of shares transacted and amount under each security made by the GBC2.
Please visit the FSC Mauritius website to see the original letter.