Comoros International Brokerage and clearing house License_Guideline
Comoros International Brokerage and clearing house License
The International Business Company Act 2005 sets the framework for the incorporation, regulation and supervision of IBCs in Anjouan (Union of the Comoros).
The International Brokerage & Clearing House License introduced in 2007 allows for the license holder to engage in activities such;
- Stock Brokerage
- Securities Brokerage
- Financial Advisory
- Asset Management
- Fund Management
- Custody Services
- Transaction Clearing
- Payment Processing
- Currency Trading (FOREX)
- Issuance of Securities
- Underwriting of Securities
|The entity making the application should be an International Business Company (IBC) in Comoros
|The licensee will need at least 1 (One) natural person Fit and Proper Directors of any jurisdiction.
|The Licensee must establish and maintain an appropriate and effective compliance function within the firm which operates independently of all operational and business line functions and senior or supervisory management.
|The Licensee shall establish an internal audit / audit committee in order to undertake the internal audit function of the company and which shall be independent for the management of the company or outsource.
|The applicant must have indemnity insurance coverage or a fidelity bond acceptable to the Anjouan Offshore Finance Authority.
|Minimum Capital Requirements
The Applicant must have the prescribed minimum paid-up capital and is able to meet the prescribed minimum net liquid capital requirement in cash or readily marketable securities.
The prescribed minimum paid-up capital is EUR 250,000 (Approximately USD 280,000)
- Licences are to be renewed annually on payment by the applicant of the annual renewal licence fee subject to adhering to the local laws.
- Internal Audit is a requirement, but it is not a requirement to file the Reports.
- The Licensee must maintain appropriate policies of insurance for the purpose of indemnifying such licensee against any liability that may be incurred as a result of any act or omission by the licensee or any of its officers or employees in the conduct of the licensee’s International Brokerage and clearing house business.
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- WhatsApp: +248 2525217
- Skype: vf-international.com
- Email: firstname.lastname@example.org