Securities Investment Business (Licence Applications and Fees) Regulations (2026 Revision)

Summary

This is the consolidated 2026 Revision of the Cayman Islands Securities Investment Business (Licence Applications and Fees) Regulations, made under the Securities Investment Business Act (2020 Revision). It consolidates the original 2003 Regulations with the 2024 amending regulations and restates the current requirements for applying for, and paying fees in respect of, a securities investment business licence from CIMA. It does not appear to introduce new substantive requirements beyond incorporating the 2024 amendments; it is primarily a law-revision consolidation.

Application requirements and fees

• Schedule 1 - application particulars: Sets out the detailed particulars and supporting information an applicant must submit when applying for a securities investment business licence, covering general company information, ownership and management details, references, financial information, insurance, compliance/AML personnel details, and a signed declaration by two senior officers.
• Schedule 2 - fees: Sets out the application fee, first-grant fee and annual renewal fee for each category of regulated activity: broker-dealer, securities arranger, securities manager, securities advisor, market maker, restricted licences, and additional licences.

Conditions on restricted licences

• Client limit: A holder of a 'restricted' securities investment business licence may serve a maximum of 20 clients.
• New client restriction: A restricted licensee may not provide services to a client not already identified to the Authority until that client's particulars have been submitted in writing.
• Excluded activities: Restricted licences are not available for market maker or securities arranger activities.

The document applies to persons and entities seeking or holding a securities investment business licence in the Cayman Islands, including broker-dealers, broker members, securities arrangers, securities managers, securities advisors, and market makers, as well as holders of restricted securities investment business licences.

Key obligations

• Applicants for a securities investment business licence must submit all particulars and supporting information specified in Schedule 1, including general company information, ownership/management details, references, financial information, insurance details and a signed declaration by two senior officers.
• Applicants must pay the application fee, and (on grant) the first-grant fee, and thereafter the annual renewal fee set out in Schedule 2 for the relevant licence category.
• Holders of a restricted securities investment business licence may provide services to no more than twenty clients.
• A restricted licence holder must not provide services to a client not originally listed in the application until that client's particulars have been provided to the Authority in writing.
• Restricted securities investment business licences are not available for market maker or securities arranger activities.
• New applicants that have not commenced operations must submit a senior officer's statement confirming no trading has commenced and an audited balance sheet dated not more than 31 days prior to the date of application.
• Other applicants must submit audited accounts for the two financial years preceding the application (or since establishment if shorter), together with auditor's reports, and any interim financial statements if audited accounts cover less than two years.
• The Authority may require applicants to supply supplementary information or clarification of information already provided.

Applies to

broker-dealers, broker members, securities arrangers, securities managers, securities advisors, market makers, restricted securities investment business licence holders, applicants for a securities investment business licence

Deadlines

• not more than 31 days prior to the date of the application: New applicants that have not commenced operations must submit an audited balance sheet dated within this period before applying.
• annual: Annual renewal fee payable for a securities investment business licence, per category set out in Schedule 2.

Related documents

• This document replaces Securities Investment Business (Licence Applications and Fees) (Amendment) Regulations, 2024 (SL 76 of 2024)
• This document is made under Securities Investment Business Law (2020 Revision)