Securities Investment Business (Licence Applications and Fees) (Amendment) Regulations, 2024 (SL 76 of 2024)

Summary

This is an amendment to the Securities Investment Business (Licence Applications and Fees) Regulations, 2003, made under the Securities Investment Business Act (2020 Revision). It does two main things: it standardizes cross-references within the principal regulations by replacing 'First Schedule'/'Second Schedule' with 'Schedule 1'/'Schedule 2', and it replaces Schedule 2 entirely with a new fee table for securities investment business licences.

The new Schedule 2 sets out, for each category of licence, the application fee, the fee payable on first grant of the licence, and the annual renewal fee. These figures update the fees that applicants and existing licensees under the Securities Investment Business Act must pay. The licence categories covered are:

• Broker dealer
• Broker member
• Securities arranger
• Securities manager
• Securities advisor
• Market maker
• Restricted licence
• Licences held alongside another regulatory law licence

The amendment applies to persons and firms applying for, or holding, a securities investment business licence in the Cayman Islands, including broker dealers, securities arrangers, securities managers, securities advisors, market makers, and restricted licence holders. It does not change licensing procedures or conduct requirements, only the fee schedule and the internal schedule numbering of the parent regulations.

The Regulations come into force immediately after the Securities Investment Business (Amendment and Validation) Act, 2024 comes into force, rather than on a fixed calendar date, so the effective date is tied to that separate Act's commencement.

Key obligations

• Applicants for a securities investment business licence must pay the specified application fee for their licence category (e.g. CI$1,000 for broker dealer, securities arranger, securities manager, securities advisor, or market maker; CI$500 for broker member or additional licences).
• Licensees must pay the specified fee payable on first grant of the licence according to their licence category (ranging from CI$3,000 to CI$10,000 depending on category).
• Licensees must pay the specified annual renewal fee for their licence category as set out in the new Schedule 2 (ranging from CI$3,000 to CI$10,000 depending on category).

Applies to

broker dealer, broker member, securities arranger, securities manager, securities advisor, market maker, restricted licence holder, securities investment business licensee

Deadlines

• immediately after the Securities Investment Business (Amendment and Validation) Act, 2024 comes into force: Commencement date of these Regulations, tied to the coming into force of the Securities Investment Business (Amendment and Validation) Act, 2024.

Related documents

• This document is made under Securities Investment Business Law (2020 Revision)
• Securities Investment Business (Licence Applications and Fees) Regulations (2026 Revision) replaces this document