Public Notice - Investment Advisors

The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) hereby informs all persons carrying on business as investment advisors that, in terms of the Securities (Institutions Licensing) Regulations, 2017, they are required to apply for a licence to operate as such. For the avoidance of doubt, such persons include Asset Consulting Businesses who offer investment advisory services.

Section 2 of the NBFIRA Act of 2016 defines an Investment Adviser as “a person who gives advice on the placement of monetary resources into the creation or acquisition of assets as specified by the Regulatory Authority, including the purchasing of real and personal property and securities”.

Investment Advisers, including Asset Consulting Businesses are therefore, advised to approach NBFIRA on or before April 30, 2019 to apply for a licence.

Sriram Gade (Mr.)

DEPUTY CHIEF EXECUTIVE OFFICER - REGULATORY

March 5, 2019