Securities Investment Business (Registration and Deregistration) Regulations, 2019
Regulations outlining the administrative procedures and initial fees for registering and deregistering under the Securities Investment Business Act.
Securities_Investment_Business_(Registration_and_Deregistration)_Regulations, _2019.pdf
2026-04-28
The Securities Investment Business (Registration and Deregistration) Regulations, 2019 establish the formal procedures for entities seeking to become "registered persons" under the securities-investment-business-act-2020 and for those seeking to deregister.
Registration Process
An applicant must submit a detailed application form (Schedule) to cima, providing comprehensive corporate details, identifying the basis for registration, listing service providers, and designating an Anti-Money Laundering Compliance Officer. The initial registration and annual fees were originally set at $5,000 but were subsequently increased to $6,000 by the securities-investment-business-registration-and-deregistration-amendment-regulations-2024.
Deregistration Procedures
A registered person that ceases to carry on regulated activities must apply to CIMA for deregistration and pay a $500 fee. The procedure varies based on the reason for cessation:
- Voluntary Cessation: Requires an affidavit from a senior officer confirming that all client relationships have been properly terminated or transferred, and a certified copy of the resolution to cease business.
- Liquidation: Requires submission of the relevant winding-up notices and declarations of solvency (if voluntary), or the court supervision order.
- Merger or Transfer: Requires prior approval from CIMA and submission of the merger certificate or, in the case of transfer to another jurisdiction, an affidavit confirming the transfer is not prejudicial to clients or creditors.