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Consolidated and revised this 31st day of December, 2025. Securities Investment Business (Licence Applications and Fees) Regulations (2026 Revision) Arrangement of Regulations Securities Investment Business Act (2020 Revision) SECURITIES INVESTMENT BUSINESS (LICENCE APPLICATIONS AND FEES) REGULATIONS (2026 Revision) Arrangement of Regulations Regulation 1. 2. 3. 4.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_5\", \"num\": \"5.\", \"text\": \"SCHEDULE 1 SCHEDULE 2 ENDNOTES Securities Investment Business (Licence Applications and Fees) Regulations (2026 Revision) Regulation 1 Securities Investment Business Act (2020 Revision) SECURITIES INVESTMENT BUSINESS (LICENCE APPLICATIONS AND FEES) REGULATIONS (2026 Revision)\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_1\", \"num\": \"1.\", \"text\": \"Citation 1. These Regulations may be cited as the Securities Investment Business (Licence Applications and Fees) Regulations (2026 Revision).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_2\", \"num\": \"2.\", \"text\": \"Definitions 2. In these Regulations, unless the context otherwise requires \u201cbroker-dealer\u201d means a person engaged in one or more of the activities specified in Schedule 2, paragraph (1)(a) of the principal Act; \u201cbroker member\u201d has the meaning assigned by section 2 of the principal Act; \u201cmarket maker\u201d has the meaning assigned by section 2 of the principal Act; \u201cprincipal Act\u201d means the Securities Investment Business Act (2020 Revision); \u201crestricted securities investment business licence\u201d means a securities investment business licence that contains a restriction referred to in section 6(10) of the principal Act, and prescribed in regulation 5; \u201csection\u201d means a section of the principal Act; Regulation 3 Securities Investment Business (Licence Applications and Fees) Regulations (2026 Revision) \u201csecurities advisor\u201d means a person engaged in activities specified in Schedule 2, paragraph 4 of the principal Act; \u201csecurities arranger\u201d means a person engaged in one or more of the activities specified in Schedule 2, paragraph 2 of the principal Act; and \u201csecurities manager\u201d means a person engaged in activities specified in Schedule 2, paragraph 3 of the principal Act.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_3\", \"num\": \"3.\", \"text\": \"Application for licence 3. (1) The particulars to be contained in an application for a securities investment business licence under the principal Act, and the information to accompany the application, are set out in Schedule 1 of these Regulations. (2) The Authority may require an applicant to provide supplementary information on, or clarification of, the information initially provided in an application. (3) The Authority may, by notice published in the Gazette, amend the application form in Schedule 1 for clarification purposes only and may also amend the format of the form.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_4\", \"num\": \"4.\", \"text\": \"Fees 4. The fees payable on the first grant of a licence under section 7(1) and the renewal fee for a licence under section 7(2) are set out in Schedule 2 of these Regulations. 5. Conditions of licence 5. (1) The maximum number of clients to whom a person holding a restricted securities investment business licence may provide services is twenty. (2) Subject to the maximum in sub-regulation (1), a person who is not in the first instance listed as a client under the relevant section of the application form in Schedule 1 shall not be provided services until the particulars required under Schedule 1 have been provided in writing to the Authority. (3) It shall be a condition of any restricted securities investment business licence that services may only be provided to the clients identified to the Authority in the application form or as provided under sub-regulation (2). (4) A restricted securities investment business licence shall be available for all categories of securities investment business except the following \u2014 (a) market maker; and (b) securities arranger. Securities Investment Business (Licence Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 SCHEDULE 1 (Regulation 3) PARTICULARS TO BE CONTAINED IN, AND INFORMATION TO ACCOMPANY, AN APPLICATION FOR THE GRANT OF A SECURITIES INVESTMENT BUSINESS LICENCE SECTION A: GENERAL INFORMATION This section to be supported by applicant\u2019s completion of the statement in annex 1 and submission of the supplementary documentation indicated in the footnote(s) 1. Name of applicant 2. Web site address (where applicable) 3. Proposed date of commencement of business 4. Legal status of the applicant 5. Date and place of incorporation\/formation1\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_6\", \"num\": \"6.\", \"text\": \"Financial year-end date\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_7\", \"num\": \"7.\", \"text\": \"Previous trade or corporate names\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_8\", \"num\": \"8.\", \"text\": \"Current regulatory licence(s) Date of issuance Name & address of regulator\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_9\", \"num\": \"9.\", \"text\": \"Is the applicant a broker member of the Cayman Islands Stock Exchange? \u25a1Yes \u25a1No 9(a). Are shares of the applicant or its parent traded on a securities exchange? \u25a1Yes \u25a1No If yes, name and address of exchange(s) ____________________________ 1 Applicant to provide a copy of the memorandum and articles of association, Law, statute, charter, partnership agreement or other instrument constituting and defining the constitution of the applicant, verified by a statutory declaration made by one of its directors or partners or by its secretary and \u2014 (a) in the case of an applicant which is a company incorporated in the Islands, certified under section 27 of the Companies Act (2026 Revision); and (b) in the case of an applicant incorporated otherwise, certified and authenticated under the public seal of the country, city or place under the law of which it is incorporated. SCHEDULE 1 Securities Investment Business (Licence Applications and Fees) Regulations (2026 Revision)\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_10\", \"num\": \"10.\", \"text\": \"Applicant\u2019s Principal Contact in the Islands Name Job Title Address Phone No. Fax no. E-mail address Relationship of the principal contact to the applicant:\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_11\", \"num\": \"11.\", \"text\": \"Registered and Principal Office (if the two are not the same, provide the details on each) Address Phone No. Fax No. E-mail address\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_12\", \"num\": \"12.\", \"text\": \"Proposed securities investment business activity for which a licence is sought (tick as appropriate) Type of Licence Full Restricted Broker-dealer \u25a1 \u25a1 Market maker Securities arranger Securities manager \u25a1 \u25a1 Securities advisor \u25a1 \u25a1\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_13\", \"num\": \"13.\", \"text\": \"Is the applicant part of a group? \u25a1Yes \u25a1No If yes, name of the group\u2019s holding company:\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_14\", \"num\": \"14.\", \"text\": \"If the applicant or its parent company (where applicable) is not currently subject to regulation in the Islands or in any other country, details as to whether \u2014 (a) the applicant or its parent company has ever been refused or had any authorisation to carry on securities investment, banking or other financial business revoked in any country; (b) the applicant, its parent company or senior officers have ever, in respect of membership of any securities organisation or of any stock exchange \u2014 (i) been refused membership or had membership revoked; or (ii) been the subject of disciplinary proceedings or sanctions; (c) the applicant or its parent company has, at any time during the ten years prior to the date of the application \u2014 (i) had a receiver, administrative receiver or administrator appointed, or Securities Investment Business (Licence Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 (ii) failed to satisfy a debt adjudged due or a debt in respect of which a decree has been passed against it, or iii) entered into a scheme of arrangement or composition of its debts with its creditors; (d) a petition for the compulsory winding up of the applicant or its parent company has been served at any time during the ten years prior to the date of the application; (e) the applicant or its parent company has ever been convicted of any offence involving fraud or other dishonesty or of an offence under any law relating to financial services, insolvency, consumer credit or consumer protection; (f) the applicant or its parent company has ever been the subject of regulatory, administrative or other civil or criminal proceedings or investigation under the law of any country; (g) the applicant, its parent company or senior officers have ever entered into any settlements to avoid legal action or adverse publicity; or (h) the applicant, its parent company or senior officers have ever been the subject of material complaints from clients or former clients in relation to securities investment business or any other financial services activity. SECTION B: RESTRICTED LICENSE\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_15\", \"num\": \"15.\", \"text\": \"If the applicant is seeking a restricted licence under section 6(10) of the principal Act, provide the names and addresses of the clients to whom the applicant wishes to provide services: SECTION C: APPLICANT\u2019S SERVICE PROVIDERS This section is to be completed by the submission of the supplementary documentation indicated in the footnote(s)\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_16\", \"num\": \"16.\", \"text\": \"Name of legal adviser firm Name and position of specific lawyer assigned Address of firm Phone No. Fax No. E-mail address Have the legal advisers of the applicant or its parent company changed during the three years prior to the date of application? If so, provide details of the change, including the reason for it.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_17\", \"num\": \"17.\", \"text\": \"Name of Auditors 2 Address of Firm SCHEDULE 1 Securities Investment Business (Licence Applications and Fees) Regulations (2026 Revision) Phone No. Fax No. E-mail address Date of appointment Name of partner contact Have the auditors of the applicant or its parent company changed during the three years prior to the date of application? If so, provide details of the change, including the reason for it.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_18\", \"num\": \"18.\", \"text\": \"Name of bankers Address Phone Fax E-mail ____________________________ 2 The auditors\u2019 letter of consent is to be provided, and such letter is to indicate the acceptance of appointment, the name of the entity to which the acceptance relates, the date of the financial year end and the accounting principles to be used. Have the bankers of the applicant or its parent company changed during the three years prior to the date of application? If so, provide details of the change, including the reason for it. SECTION D: OWNERSHIP AND MANAGEMENT INFORMATION This section is to be completed by the submission of personal questionnaires in a form approved by the Authority on all natural persons listed in paragraphs 19-21 below\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_19\", \"num\": \"19.\", \"text\": \"Directors and other senior officers Title First Name Last Name Address Nationality\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_20\", \"num\": \"20.\", \"text\": \"Managers (to include the compliance officer) Title First Name Last Name Address Nationality\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_21\", \"num\": \"21.\", \"text\": \"Shareholders List all shareholders, including corporate shareholders 3 , with 10% or greater of issued share capital or total voting rights. (a) Natural persons Title First Name Last Name Address # of shares Nationality (b) Corporate persons Name Address # of shares Country of incorporation 3 In the case of any corporate shareholders, the personal questionnaire is to be completed in respect of the beneficial owner(s) thereof, unless the company is traded on a recognised exchange, in which case only evidence of that it is so traded is required to be submitted. Securities Investment Business (Licence Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 SECTION E: REFERENCES The following references are required to be submitted:\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_22\", \"num\": \"22.\", \"text\": \"In respect of each person listed in D19, D20 and D21(a): (a) 2 character references; (b) 1 reference verifying good financial standing; and (c) a police or other certificate satisfactory to the Authority certifying that the person has not been convicted of a serious crime or any offence involving dishonesty. SECTION F: FINANCIAL INFORMATION AND INSURANCE\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_23\", \"num\": \"23.\", \"text\": \"Financial Resources Current liquid capital Shareholders\u2019 equity Issued and paid-up share capital US$ Amount and nature of loan capital US$ Total assets US$ Where applicable, state how much of the capital of each subsidiary of the applicant constitutes an asset of the applicant.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_24\", \"num\": \"24.\", \"text\": \"Audited Accounts The following is required to be submitted: (1) in respect of the applicant \u2014 (a) where the applicant has been established within 6 months of the date of application and has not commenced operations: (i) a statement from a senior officer of the applicant confirming that the applicant has not commenced trading since the date of establishment and that no accounts have been produced or dividends declared; and (ii) an audited balance sheet, including the minimum financial resources required under regulation 9 of the Securities Investment Business (Financial Requirements and Standards) Regulations 2003, as at a date not more than 31 days prior to the date of the application. (2) For all other applicants: (a) audited accounts 4 for the 2 financial years immediately preceding the date of application or, if shorter, since the date of establishment; and (b) the auditor\u2019s reports accompanying the audited accounts. SCHEDULE 1 Securities Investment Business (Licence Applications and Fees) Regulations (2026 Revision) If the audited accounts are for a period of less than 2 years, the applicant must submit any interim financial statements produced subsequently, indicating whether or not such statements have been audited. In respect of any corporate shareholders listed in D21(b) and the corporate shareholder\u2019s parent company, if any, annual accounts for the 2 years immediately preceding the year of application.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_25\", \"num\": \"25.\", \"text\": \"Indicate below whether the applicant has cover or arrangements for cover in respect of the following: Limit Insurer Professional indemnity: \u25a1Yes \u25a1No Directors and Officers: \u25a1Yes \u25a1No Business interruption: \u25a1Yes \u25a1No Other (please provide details): \u25a1Yes \u25a1No SECTION G: COMPLIANCE & ANTI-MONEY LAUNDERING PERSONNEL\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_26\", \"num\": \"26.\", \"text\": \"Name and position of Money Laundering Reporting Officer:\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_27\", \"num\": \"27.\", \"text\": \"Name and qualifications of the chief internal auditor, if applicable: ___________________________ 4 Where the applicant has subsidiaries, the accounts of the applicant and its subsidiaries must be in consolidated form, unless otherwise agreed by the Authority. Securities Investment Business (Licence Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 To be signed and submitted by two senior officers of the applicant I (full name and address) and I (full name and address and position) Declare that we are duly authorised to make this application. We confirm that we have read and understood the provisions of the Securities Investment Business Act (2020 Revision) and the Regulations made under it and the Anti-Money Laundering Regulations (2025 Revision) and we declare that the business in respect of which this application is made will be conducted in accordance with the provisions of the Law and the Regulations. We declare the particulars provided in the application to be accurate in all material respects to the best of our knowledge and belief. Signatures Date. SCHEDULE 1 Securities Investment Business (Licence Applications and Fees) Regulations (2026 Revision) ANNEX 1 DETAILS TO BE INCLUDED IN SECTION A STATEMENT A. Background (1) A brief resum\u00e9 of the applicant\u2019s history and reasons for seeking a securities investment business licence. SECTION H: DECLARATI ON (2) Where applicable, a structure chart showing all group, holding company, subsidiary and affiliate relationships, including details of the jurisdictions in which such entities are domiciled and operate. Indicate also any regulatory authorities to which any of the entities report. (3) Where applicable, a brief outline of the major sources of income for the group. B. The business objectives of the applicant \u2014 (1) A description of the types of services\/products to be offered; (2) Outline of marketing strategy and methods, including the market to which services and products are to be directed; (3) Any other relevant information C. A list of companies with whom the applicant has or intends to have agency agreements. D. Details of any sub-contracting arrangements for services or advice to be bought in from third parties or other group companies. E. Outline of management and staff structure of the applicant, showing total number of staff and senior officers and managers and their responsibilities. For senior employees who will be dealing directly with clients other than in a purely administrative or clerical capacity (e.g. brokers, investment advisors, investment managers), include their curricula vitae. F. Systems and Controls Provide an outline of (1) how compliance and quality control is secured and separation of functions achieved; (2) any major computer applications that will be used; (3) internal audit functions; (4) systems and procedures to secure compliance with the Money Laundering Regulations; and (5) governance structure and controls at board level. Securities Investment Business (Licence Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 G. In the case of applicants with less than 10 staff members, information regarding the arrangements made to ensure that the interests of clients will be safeguarded in the event of death, incapacity, holidays and illness. SCHEDULE 2 Securities Investment Business (Licence Applications and Fees) Regulations (2026 Revision) SCHEDULE 2 (Regulation 4) FEES PAYABLE IN RESPECT OF A SECURITIES INVESTMENT BUSINESS LICENCE Item Regulated activity Application fee Fee payable on first grant Annual renewal fee (a)(i) Broker dealer 1,000 10,000 10,000 (a)(ii) If broker member 3,000 3,000 (b) Securities arranger 1,000 5,000 5,000 (c) Securities manager 1,000 10,000 10,000 (d) Securities advisor 1,000 10,000 10,000 (e) Market maker 1,000 10,000 10,000 (f) Each additional licence after the first licence is granted for (a), (c), (d) or (e) 4,000 4,000 (g) Restricted licence (for all types\/categories of licences for regulated activity except for \u2014 (a) a market maker; and (b) securities arranger 1,000 5,000 5,000 (h) Licence under (a)(i), (c), (d) or (e) where a licence is held by the applicant (or the parent of the applicant) under any other of the regulatory laws 4,500 4,500 Securities Investment Business (Licence Applications and Fees) Regulations (2026 Revision) SCHEDULE 2 Publication in consolidated and revised form authorised by the Cabinet this 28th day of January, 2026. Kim Bullings Clerk of Cabinet Securities Investment Business (Licence Applications and Fees) Regulations (2026 Revision) ENDNOTES ENDNOTES Table of Legislation history: SL # Act\/Law # Legislation Commencement Gazette 76\/2024 Securities Investment Business (Licence Applications and Fees) (Amendment) Regulations, 2024 1-Jan-2025 LG47\/2024\/s42 56\/2020 Citation of Acts of Parliament Act, 2020 3-Dec-2020 LG89\/2020\/s1 6\/2003 Securities Investment Business (Licence Applications and Fees) Regulations 2003 29-Jul-2003 G15\/2003\/s18 ENDNOTES Securities Investment Business (Licence Applications and Fees) Regulations (2026 Revision) (Price: $4.00)\", \"element\": \"section\", \"heading\": null}], \"meta\": {\"notes\": null, \"workflow\": null, \"lifecycle\": {\"source\": \"#cilegis\", \"eventRef\": [{\"eId\": \"e_commence_2026_01_01\", \"date\": \"2026-01-01\", \"type\": \"generation\", \"source\": \"#cilegis\"}]}, \"references\": {\"source\": \"#canary\", \"TLCRole\": [], \"TLCEvent\": 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\"name\": \"act\", \"header\": {\"title\": \"Securities Investment Business (Licence Applications and Fees) Regulations\", \"actNumber\": \"16 of 2003\", \"longTitle\": null}}, \"doc\": null, \"bill\": null, \"judgment\": null}}","akn_full_text":"CAYMAN ISLANDS\n\nSecurities Investment Business Act\n(2020 Revision)\nSECURITIES INVESTMENT BUSINESS\n(LICENCE APPLICATIONS AND FEES)\nREGULATIONS\n(2026 Revision)\n\nSupplement No. 5 published with Legislation Gazette No. 9 of 12th February, 2026.\n\u2000\n\nPage 2\nRevised as at 31st December, 2025\nc\n\nPUBLISHING DETAILS\n\nThe Securities Investment Business (Licence Applications and Fees) Regulations 2003,\nconsolidated with the \u2014\n\nSecurities Investment Business (Licence Applications and Fees) (Amendment)\nRegulations 2024\n\nRevised under the authority of the Law Revision Act (2020 Revision)\n\nOriginally made \u2014\nRegulations, 2003-22nd July, 2003\nRegulations, 2024-17th December, 2024.\n\nConsolidated and revised this 31st day of December, 2025.\n\nSecurities Investment Business (Licence Applications and Fees)\nRegulations (2026 Revision)\nArrangement of Regulations\n\nc\nRevised as at 31st December, 2025\nPage 3\n\nCAYMAN ISLANDS\n\nSecurities Investment Business Act\n(2020 Revision)\nSECURITIES INVESTMENT BUSINESS\n(LICENCE APPLICATIONS AND FEES)\nREGULATIONS\n(2026 Revision)\nArrangement of Regulations\nRegulation\nPage\n1.\nCitation ......................................................................................................................................5\n2.\nDefinitions ..................................................................................................................................5\n3.\nApplication for licence ................................................................................................................6\n4.\nFees ..........................................................................................................................................6\n5.\nConditions of licence ..................................................................................................................6\nSCHEDULE 1\n7\nSCHEDULE 2\n16\nENDNOTES\n19\nTable of Legislation history: ............................................................................................................... 19\n\nSecurities Investment Business (Licence Applications and Fees)\nRegulations (2026 Revision)\nRegulation 1\n\nc\nRevised as at 31st December, 2025\nPage 5\n\nCAYMAN ISLANDS\n\nSecurities Investment Business Act\n(2020 Revision)\nSECURITIES INVESTMENT BUSINESS\n(LICENCE APPLICATIONS AND FEES)\nREGULATIONS\n(2026 Revision)\n\n1.\nCitation\n1.\nThese Regulations may be cited as the Securities Investment Business (Licence\nApplications and Fees) Regulations (2026 Revision).\n2.\nDefinitions\n2.\nIn these Regulations, unless the context otherwise requires \u201cbroker-dealer\u201d means a\nperson engaged in one or more of the activities specified in Schedule 2, paragraph\n(1)(a) of the principal Act;\n\u201cbroker member\u201d has the meaning assigned by section 2 of the principal Act;\n\u201cmarket maker\u201d has the meaning assigned by section 2 of the principal Act;\n\u201cprincipal Act\u201d means the Securities Investment Business Act (2020 Revision);\n\u201crestricted securities investment business licence\u201d means a securities\ninvestment business licence that contains a restriction referred to in\nsection 6(10) of the principal Act, and prescribed in regulation 5;\n\u201csection\u201d means a section of the principal Act;\n\nRegulation 3\nSecurities Investment Business (Licence Applications and Fees)\nRegulations (2026 Revision)\n\nPage 6\nRevised as at 31st December, 2025\nc\n\n\u201csecurities advisor\u201d means a person engaged in activities specified in Schedule\n2, paragraph 4 of the principal Act;\n\u201csecurities arranger\u201d means a person engaged in one or more of the activities\nspecified in Schedule 2, paragraph 2 of the principal Act; and\n\u201csecurities manager\u201d means a person engaged in activities specified in\nSchedule 2, paragraph 3 of the principal Act.\n3.\nApplication for licence\n3.\n(1) The particulars to be contained in an application for a securities investment\nbusiness licence under the principal Act, and the information to accompany the\napplication, are set out in Schedule 1 of these Regulations.\n(2) The Authority may require an applicant to provide supplementary information\non, or clarification of, the information initially provided in an application.\n(3) The Authority may, by notice published in the Gazette, amend the application\nform in Schedule 1 for clarification purposes only and may also amend the\nformat of the form.\n4.\nFees\n4.\nThe fees payable on the first grant of a licence under section 7(1) and the renewal fee\nfor a licence under section 7(2) are set out in Schedule 2 of these Regulations.\n5.\nConditions of licence\n5.\n(1) The maximum number of clients to whom a person holding a restricted\nsecurities investment business licence may provide services is twenty.\n(2) Subject to the maximum in sub-regulation (1), a person who is not in the first\ninstance listed as a client under the relevant section of the application form in\nSchedule 1 shall not be provided services until the particulars required under\nSchedule 1 have been provided in writing to the Authority.\n(3) It shall be a condition of any restricted securities investment business licence\nthat services may only be provided to the clients identified to the Authority in\nthe application form or as provided under sub-regulation (2).\n(4) A restricted securities investment business licence shall be available for all\ncategories of securities investment business except the following \u2014\n(a)\nmarket maker; and\n(b) securities arranger.\n\nSecurities Investment Business (Licence Applications and Fees)\nRegulations (2026 Revision)\n\nSCHEDULE 1\n\nc\nRevised as at 31st December, 2025\nPage 7\n\n SCHEDULE 1\n (Regulation 3)\nPARTICULARS TO BE CONTAINED IN, AND INFORMATION TO\nACCOMPANY, AN APPLICATION FOR THE GRANT OF A\nSECURITIES INVESTMENT BUSINESS LICENCE\n\nSECTION A: GENERAL INFORMATION\nThis section to be supported by applicant\u2019s completion of the statement in annex 1 and\nsubmission of the supplementary documentation indicated in the footnote(s)\n1.\nName of applicant\n2.\nWeb site address (where applicable)\n3.\nProposed date of commencement of business\n4.\nLegal status of the applicant\n5.\nDate and place of incorporation\/formation1\n6.\nFinancial year-end date\n7.\nPrevious trade or corporate names\n8.\nCurrent regulatory licence(s)\nDate of issuance\nName & address of regulator\n9.\nIs the applicant a broker member of the Cayman Islands Stock Exchange?\n\u25a1Yes \u25a1No\n9(a). Are shares of the applicant or its parent traded on a securities exchange?\n\u25a1Yes \u25a1No\nIf yes, name and address of exchange(s)\n\n____________________________\n1 Applicant to provide a copy of the memorandum and articles of association, Law, statute, charter, partnership\nagreement or other instrument constituting and defining the constitution of the applicant, verified by a statutory\ndeclaration made by one of its directors or partners or by its secretary and \u2014\n(a)\nin the case of an applicant which is a company incorporated in the Islands, certified under\nsection 27 of the Companies Act (2026 Revision); and\n(b)\nin the case of an applicant incorporated otherwise, certified and authenticated under the public\nseal of the country, city or place under the law of which it is incorporated.\n\nSCHEDULE 1\nSecurities Investment Business (Licence Applications and Fees)\nRegulations (2026 Revision)\n\nPage 8\nRevised as at 31st December, 2025\nc\n\n10. Applicant\u2019s Principal Contact in the Islands\nName\nJob Title\nAddress\nPhone No.\nFax no.\nE-mail address\nRelationship of the principal contact to the applicant:\n11. Registered and Principal Office (if the two are not the same, provide the details on\neach) Address Phone No. Fax No. E-mail address\n12. Proposed securities investment business activity for which a licence is sought (tick as\nappropriate)\nType of Licence\n\nFull\n\nRestricted\nBroker-dealer\n\n\u25a1\n\n\u25a1\nMarket maker\nSecurities arranger\nSecurities manager\n\n\u25a1\n\n\u25a1\nSecurities advisor\n\n\u25a1\n\n\u25a1\n13. Is the applicant part of a group? \u25a1Yes \u25a1No\nIf yes, name of the group\u2019s holding company:\n14. If the applicant or its parent company (where applicable) is not currently subject to\nregulation in the Islands or in any other country, details as to whether \u2014\n(a)\nthe applicant or its parent company has ever been refused or had any\nauthorisation to carry on securities investment, banking or other financial\nbusiness revoked in any country;\n(b) the applicant, its parent company or senior officers have ever, in respect of\nmembership of any securities organisation or of any stock exchange \u2014\n(i)\nbeen refused membership or had membership revoked; or\n(ii) been the subject of disciplinary proceedings or sanctions;\n(c)\nthe applicant or its parent company has, at any time during the ten years\nprior to the date of the application \u2014\n(i)\nhad a receiver, administrative receiver or administrator appointed, or\n\nSecurities Investment Business (Licence Applications and Fees)\nRegulations (2026 Revision)\n\nSCHEDULE 1\n\nc\nRevised as at 31st December, 2025\nPage 9\n\n(ii) failed to satisfy a debt adjudged due or a debt in respect of which a\ndecree has been passed against it, or\niii) entered into a scheme of arrangement or composition of its debts with\nits creditors;\n(d) a petition for the compulsory winding up of the applicant or its parent\ncompany has been served at any time during the ten years prior to the date\nof the application;\n(e)\nthe applicant or its parent company has ever been convicted of any offence\ninvolving fraud or other dishonesty or of an offence under any law relating\nto financial services, insolvency, consumer credit or consumer protection;\n(f)\nthe applicant or its parent company has ever been the subject of regulatory,\nadministrative or other civil or criminal proceedings or investigation under\nthe law of any country;\n(g) the applicant, its parent company or senior officers have ever entered into\nany settlements to avoid legal action or adverse publicity; or\n(h) the applicant, its parent company or senior officers have ever been the\nsubject of material complaints from clients or former clients in relation to\nsecurities investment business or any other financial services activity.\nSECTION B: RESTRICTED LICENSE\n15. If the applicant is seeking a restricted licence under section 6(10) of the principal Act,\nprovide the names and addresses of the clients to whom the applicant wishes to\nprovide services:\nSECTION C: APPLICANT\u2019S SERVICE PROVIDERS\n\nThis section is to be completed by the submission of the supplementary documentation\nindicated in the footnote(s)\n16. Name of legal adviser firm\nName and position of specific lawyer assigned\nAddress of firm\nPhone No. Fax No.\nE-mail address\nHave the legal advisers of the applicant or its parent company changed during the\nthree years prior to the date of application? If so, provide details of the change,\nincluding the reason for it.\n17. Name of Auditors 2\nAddress of Firm\n\nSCHEDULE 1\nSecurities Investment Business (Licence Applications and Fees)\nRegulations (2026 Revision)\n\nPage 10\nRevised as at 31st December, 2025\nc\n\nPhone No.\nFax No.\nE-mail address\nDate of appointment\nName of partner contact\nHave the auditors of the applicant or its parent company changed during the three\nyears prior to the date of application? If so, provide details of the change, including\nthe reason for it.\n18. Name of bankers\nAddress\nPhone\nFax\nE-mail\n____________________________\n2 The auditors\u2019 letter of consent is to be provided, and such letter is to indicate the acceptance of\nappointment, the name of the entity to which the acceptance relates, the date of the financial year end and\nthe accounting principles to be used.\nHave the bankers of the applicant or its parent company changed during the three years prior to the date of\napplication? If so, provide details of the change, including the reason for it.\nSECTION D: OWNERSHIP AND MANAGEMENT INFORMATION\nThis section is to be completed by the submission of personal questionnaires in a form\napproved by the Authority on all natural persons listed in paragraphs 19-21 below\n19. Directors and other senior officers\nTitle\n\nFirst Name\n\nLast Name\n\nAddress\nNationality\n20. Managers (to include the compliance officer)\nTitle\n\nFirst Name\n\nLast Name\n\nAddress\nNationality\n21. Shareholders\nList all shareholders, including corporate shareholders 3 , with 10% or greater of\nissued share capital or total voting rights.\n(a)\nNatural persons Title First Name Last Name Address # of shares\nNationality\n(b) Corporate persons Name Address # of shares Country of incorporation\n3 In the case of any corporate shareholders, the personal questionnaire is to be completed in respect of the\nbeneficial owner(s) thereof, unless the company is traded on a recognised exchange, in which case only evidence\nof that it is so traded is required to be submitted.\n\nSecurities Investment Business (Licence Applications and Fees)\nRegulations (2026 Revision)\n\nSCHEDULE 1\n\nc\nRevised as at 31st December, 2025\nPage 11\n\nSECTION E: REFERENCES\nThe following references are required to be submitted:\n22. In respect of each person listed in D19, D20 and D21(a):\n(a)\n2 character references;\n(b) 1 reference verifying good financial standing; and\n(c)\na police or other certificate satisfactory to the Authority certifying that the\nperson has not been convicted of a serious crime or any offence involving\ndishonesty.\nSECTION F: FINANCIAL INFORMATION AND INSURANCE\n23. Financial Resources\nCurrent liquid capital\nShareholders\u2019 equity\nIssued and paid-up share capital\n\nUS$\nAmount and nature of loan capital\n\nUS$\nTotal assets\n\nUS$\nWhere applicable, state how much of the capital of each subsidiary of the applicant\nconstitutes an asset of the applicant.\n24. Audited Accounts\nThe following is required to be submitted:\n(1) in respect of the applicant \u2014\n(a)\nwhere the applicant has been established within 6 months of the date of\napplication and has not commenced operations:\n(i)\na statement from a senior officer of the applicant confirming that the\napplicant has not commenced trading since the date of establishment\nand that no accounts have been produced or dividends declared; and\n(ii) an audited balance sheet, including the minimum financial resources\nrequired under regulation 9 of the Securities Investment Business\n(Financial Requirements and Standards) Regulations 2003, as at a\ndate not more than 31 days prior to the date of the application.\n(2) For all other applicants:\n(a)\naudited accounts 4 for the 2 financial years immediately preceding the date\nof application or, if shorter, since the date of establishment; and\n(b) the auditor\u2019s reports accompanying the audited accounts.\n\nSCHEDULE 1\nSecurities Investment Business (Licence Applications and Fees)\nRegulations (2026 Revision)\n\nPage 12\nRevised as at 31st December, 2025\nc\n\nIf the audited accounts are for a period of less than 2 years, the applicant must submit\nany interim financial statements produced subsequently, indicating whether or not\nsuch statements have been audited.\nIn respect of any corporate shareholders listed in D21(b) and the corporate\nshareholder\u2019s parent company, if any, annual accounts for the 2 years immediately\npreceding the year of application.\n25. Indicate below whether the applicant has cover or arrangements for cover in respect\nof the following:\n\nLimit\n\nInsurer\nProfessional indemnity:\n\n\u25a1Yes \u25a1No\nDirectors and Officers:\n\n\u25a1Yes \u25a1No\nBusiness interruption:\n\n\u25a1Yes \u25a1No\nOther (please provide details):\n\u25a1Yes \u25a1No\nSECTION G: COMPLIANCE & ANTI-MONEY LAUNDERING PERSONNEL\n26. Name and position of Money Laundering Reporting Officer:\n27. Name and qualifications of the chief internal auditor, if applicable:\n___________________________\n4 Where the applicant has subsidiaries, the accounts of the applicant and its subsidiaries must be in consolidated\nform, unless otherwise agreed by the Authority.\n\nSecurities Investment Business (Licence Applications and Fees)\nRegulations (2026 Revision)\n\nSCHEDULE 1\n\nc\nRevised as at 31st December, 2025\nPage 13\n\nTo be signed and submitted by two senior officers of the applicant\nI (full name and address)\n\nand\n\nI (full name and address and position)\n\nDeclare that we are duly authorised to make this application.\n\nWe confirm that we have read and understood the provisions of the Securities Investment\nBusiness Act (2020 Revision) and the Regulations made under it and the Anti-Money\nLaundering Regulations (2025 Revision) and we declare that the business in respect of\nwhich this application is made will be conducted in accordance with the provisions of the\nLaw and the Regulations.\n\nWe declare the particulars provided in the application to be accurate in all material respects\nto the best of our knowledge and belief.\n\nSignatures\n\nDate.\n\nSCHEDULE 1\nSecurities Investment Business (Licence Applications and Fees)\nRegulations (2026 Revision)\n\nPage 14\nRevised as at 31st December, 2025\nc\n\nANNEX 1\nDETAILS TO BE INCLUDED IN SECTION A STATEMENT\nA.\nBackground\n(1) A brief resum\u00e9 of the applicant\u2019s history and reasons for seeking a securities\ninvestment business licence.\nSECTION H: DECLARATI ON\n(2) Where applicable, a structure chart showing all group, holding company,\nsubsidiary and affiliate relationships, including details of the jurisdictions in\nwhich such entities are domiciled and operate. Indicate also any regulatory\nauthorities to which any of the entities report.\n(3) Where applicable, a brief outline of the major sources of income for the group.\nB.\nThe business objectives of the applicant \u2014\n(1) A description of the types of services\/products to be offered;\n(2) Outline of marketing strategy and methods, including the market to which\nservices and products are to be directed;\n(3) Any other relevant information\nC.\nA list of companies with whom the applicant has or intends to have agency\nagreements.\nD.\nDetails of any sub-contracting arrangements for services or advice to be bought in\nfrom third parties or other group companies.\nE.\nOutline of management and staff structure of the applicant, showing total number of\nstaff and senior officers and managers and their responsibilities. For senior employees\nwho will be dealing directly with clients other than in a purely administrative or\nclerical capacity (e.g. brokers, investment advisors, investment managers), include\ntheir curricula vitae.\nF.\nSystems and Controls\nProvide an outline of\n(1) how compliance and quality control is secured and separation of functions\nachieved;\n(2) any major computer applications that will be used;\n(3) internal audit functions;\n(4) systems and procedures to secure compliance with the Money Laundering\nRegulations; and\n(5) governance structure and controls at board level.\n\nSecurities Investment Business (Licence Applications and Fees)\nRegulations (2026 Revision)\n\nSCHEDULE 1\n\nc\nRevised as at 31st December, 2025\nPage 15\n\nG.\nIn the case of applicants with less than 10 staff members, information regarding the\narrangements made to ensure that the interests of clients will be safeguarded in the\nevent of death, incapacity, holidays and illness.\n\nSCHEDULE 2\nSecurities Investment Business (Licence Applications and Fees)\nRegulations (2026 Revision)\n\nPage 16\nRevised as at 31st December, 2025\nc\n\nSCHEDULE 2\n(Regulation 4)\nFEES PAYABLE IN RESPECT OF A SECURITIES INVESTMENT\nBUSINESS LICENCE\n\nItem\nRegulated activity\nApplication\nfee\nFee\npayable\non first\ngrant\nAnnual\nrenewal\nfee\n(a)(i)\nBroker dealer\n1,000\n10,000\n10,000\n(a)(ii)\nIf broker member\n500\n3,000\n3,000\n(b)\nSecurities arranger\n1,000\n5,000\n5,000\n(c)\nSecurities manager\n1,000\n10,000\n10,000\n(d)\nSecurities advisor\n1,000\n10,000\n10,000\n(e)\nMarket maker\n1,000\n10,000\n10,000\n(f)\nEach additional licence after\nthe first licence is granted for\n(a), (c), (d) or (e)\n500\n4,000\n4,000\n(g)\nRestricted licence (for all\ntypes\/categories of licences\nfor regulated activity except\nfor \u2014\n(a) a market maker; and\n(b) securities arranger\n1,000\n5,000\n5,000\n(h)\nLicence under (a)(i), (c), (d)\nor (e) where a licence is held\nby the applicant (or the parent\nof the applicant) under any\nother of the regulatory laws\n500\n4,500\n4,500\n\nSecurities Investment Business (Licence Applications and Fees)\nRegulations (2026 Revision)\n\nSCHEDULE 2\n\nc\nRevised as at 31st December, 2025\nPage 17\n\nPublication in consolidated and revised form authorised by the Cabinet this 28th\nday of January, 2026.\nKim Bullings\nClerk of Cabinet\n\nSecurities Investment Business (Licence Applications and Fees)\nRegulations (2026 Revision)\n\nENDNOTES\n\nc\nRevised as at 31st December, 2025\nPage 19\n\nENDNOTES\nTable of Legislation history:\nSL #\nAct\/Law #\nLegislation\nCommencement\nGazette\n76\/2024\n\nSecurities Investment Business (Licence Applications and\nFees) (Amendment) Regulations, 2024\n1-Jan-2025 LG47\/2024\/s42\n\n56\/2020\nCitation of Acts of Parliament Act, 2020\n3-Dec-2020\nLG89\/2020\/s1\n6\/2003\n\nSecurities Investment Business (Licence Applications and\nFees) Regulations 2003\n29-Jul-2003\nG15\/2003\/s18\n\nENDNOTES\nSecurities Investment Business (Licence Applications and Fees)\nRegulations (2026 Revision)\n\nPage 20\nRevised as at 31st December, 2025\nc\n\n(Price: $4.00)","akn_extracted_at":"2026-06-22 15:40:08.89316+00","cms_id":"2003-0016","law_type":"subordinate","year":"2003","number":"16","title":"Securities Investment Business (Licence Applications and Fees) Regulations","status":"in_force"},"provenance":{"files":[{"file_id":"5210","expr_id":"308","kind":"akn_xml","filename":"2003-0016_2026 Revision.akn.xml","source_url":null,"storage_path":"\/Users\/q\/kyleg-data\/working\/SUBORDINATE\/2003\/2003-0016\/2003-0016_2026 Revision.akn.xml","content_md5":"7db0b6d099dcd5fca707f629eb45199b","byte_size":"24883","http_last_modified":null,"fetched_at":"2026-06-22 15:40:09.077296+00"},{"file_id":"615","expr_id":"308","kind":"pristine_pdf","filename":"2003-0016_2026 Revision.pdf","source_url":"\/cms\/images\/LEGISLATION\/SUBORDINATE\/2003\/2003-0016\/2003-0016_2026 Revision.pdf","storage_path":"\/Users\/q\/kyleg-data\/pristine\/SUBORDINATE\/2003\/2003-0016\/2003-0016_2026 Revision.pdf","content_md5":"af46ce00bbbe501e8b26238dd7813ffd","byte_size":"528537","http_last_modified":null,"fetched_at":"2026-06-21 23:09:37.846001+00"},{"file_id":"616","expr_id":"308","kind":"working_pdf","filename":"2003-0016_2026 Revision.pdf","source_url":"\/cms\/images\/LEGISLATION\/SUBORDINATE\/2003\/2003-0016\/2003-0016_2026 Revision.pdf","storage_path":"\/Users\/q\/kyleg-data\/working\/SUBORDINATE\/2003\/2003-0016\/2003-0016_2026 Revision.pdf","content_md5":"af46ce00bbbe501e8b26238dd7813ffd","byte_size":"528537","http_last_modified":null,"fetched_at":"2026-06-21 23:09:37.846001+00"}],"paragraph_count":19,"latest_history":null},"quality":{"expr_id":"308","doc_id":"308","quality_state":"needs_review","quality_score":"76","needs_human_review":"t","deterministic_categories":"{duplicate_text,page_header_footer_noise}","llm_categories":"{truncated_text,other}","repair_actions":"{collapse_duplicate_text,manual_review,reextract_full_text,strip_page_furniture}","finding_severity_counts":"{\"low\": 1, \"medium\": 1}","finding_summary":"Sample appears truncated mid\u2011document; 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