LICENSING
Helping your business to secure Financial
Related Licenses in onshore and offshore
jurisdiction worldwide.
BBS provides full range advisory and consultancy for international financial businesses and entrepreneurs in obtaining the relevant licenses to operate their business ventures effectively.
The permitted activities of a licensed Labuan fund management companies are as follows:
Management services
- Acting or offering to act as portfolio manager on behalf of the clients for a portfolio of securities including funds (*Note: Including any foreign fund that has obtained approval from its home regulator of an IOSCO member country).
- Managing activities in the acquisition or disposal of a portfolio of securities including funds (*Note: Including any foreign fund that has obtained approval from its home regulator of an IOSCO member country).
- Managing clients’ discretionary account including Labuan private funds
Investment advices
- Conducting securities analysis and making investment recommendations based on client’s investment objectives and financial situation.
- Providing advice concerning securities including the issuance or promulgation of research report and analysis.
- Providing consultancy and advisory services relating to corporate finance and financial planning matters for corporate clients.
Administrative services
- Making submissions on behalf of clients to Labuan FSA in respect of securities including any other reporting requirements
- Issuing any documents which are deemed to be a prospectus under the LFSSA/LIFSSA and the LCA.
Dealing in securities
- Quoting two-way prices and dealing in securities.
- Arranging for the sale or purchase of securities including that are not listed on a stock market of a stock exchange, issued by, belonging to or on behalf of clients.
- Underwriting of securities and placement out of such underwritten securities to be commensurated with the adequacy for its financial resource. Hence, the Labuan fund manager shall ensure that its risk management plan also clearly sets out the extent of financial requirements to sustain its operational business based on the risk appetite or tolerance levels in relation to the fund management strategies. This has to be reviewed at least on a yearly basis in line with its business plan.
- Other dealing in securities as permitted under section 2 of LFSSA/LIFSSA.
Any other activity which may be permitted by Labuan FSA from time to time.
For the eligibility of the applicant, the following needs to be submitted:
Provide a business plan covering the business intentions, types of services to be provided, target market, three years revenue projections and manpower, including the equity structure of company in regards to the percentage of shareholding.
Demonstrate the existence of both adequate financial resources and insurance coverage.
The applicant, proposed directors and principal officer including any other relevant person are fit and proper persons as per the Guidelines on Fit and Proper Person issued by Labuan FSA.
Subject to the merit of each application, the applicant may be required to provide additional information to Labuan FSA.
The annual license fee payable for Labuan Securities License is RM5,000 upon the grant of its license. The subsequent payment of annual license fee payable on or before 15 January of each year.
The annual license fee payable for Labuan Securities License is RM5,000 upon the grant of its license. The subsequent payment of annual license fee payable on or before 15 January of each year.
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