The Capital Market administers the Securities Markets Order, 2013 (SMO) and its supplementary legislation the Securities Markets Regulations, 2015 (SMR). The SMO and SMR provides a legal and regulatory framework for the licensing and supervision of market operators such as securities exchanges, clearing house, trading facilities, credit rating agencies; capital market intermediaries such as dealers, fund managers, and investment advisers; securities products and the collective investment schemes.
The types of licences available for the capital market intermediaries are Capital Market Services Licence and Representative's Licence which allow licensees to conduct the following regulated activities: -
Note: Please refer to Schedule, PART II, Activities Constituting Investment Business in the SMO for more information
Additionally, the SMO includes provisions to ensure investors protection and increase investors' confidence.
BDCB, as member of the International Organization of Securities Commissions (IOSCO) and a full signatory to the IOSCO Multilateral Memorandum of Understanding, the unit is also responsible in ensuring continuous alignment to the best international standards and practices set by the IOSCO.
11/10/2021 12:01 PM |
Capital Market: Types of Licences, Capital Requirements and
Notice and Guidelines
Notices:TitleReference NumberDate of IssuanceNotice on Outsourcing for Capital Markets Services Licence HoldersNotice No. CMA/N-1/2020/1515 Apr 2020Notice on Providing Market Access to a Foreign MarketNotice No. CMU/N-2/2019/1404 Nov 2019Notice on Licensing Examination [Amendment No.1]Notice No. CMU/N-1/2018/1113 May 2019Notice on Peer to Peer Financing Platform OperatorsNotice No. CMU/N-1/2019/1310 Apr 2019Notice on Offering of Debentures to Retail InvestorsNotice No. CMU/N-1/2018/1205 Sep 2018Corrigendum Notice on Offering of Structured ProductsNotice No. CMU/N-3/2017/807 Aug 2018Notice on Licensing ExaminationNotice No. CMU/N-1/2018/1106 Jul 2018Notice on Offering of Debentures [Amendment No.1]Notice No. CMU/N-3/2017/805 June 2018Notice to Vary the Requirements of Regulation 40, SMRNotice No. CMU/N-4/2017/913 December 2017Notice on Offering of DebenturesNotice No. CMU/N-3/2017/813 December 2017Public Offering Registration Requirement for Investment-linked Insurance ContractsNotice No. CMU/N-2/2017/706 October 2017Commencement of Securities Markets Regulations, 2014Notice No. CMS/4/201528 January 2015Registration of Investment-Linked Insurance ContractsNotice No. CMS/3/201419 November 2014Withdrawal of Exemptions Granted Under The Repealed Securities Order, 2001 and Mutual Funds Order, 2001Notice No. CMS/2/201425 August 2014Exemption from Public Offering Registration RequirementNotice No. CMS/1/201425 August 2014Guidelines:TitleReference NumberDate of IssuanceGuideline on Handling of Conflict of Interest upon Promoting Researh ReportGuideline No. CMU/G-2/2020/924 December 2020Guideline on Outsourcing for Capital Markets Services Licence HoldersGuideline No. CMU/G-1/2020/815 April 2020Corrigendum - Guideline on Conducting the Regulated Activity of Giving or Offering Investment AdviceGuideline No. CMU/G-6/2019/125 March 2020Guideline to Persons Seeking for Exemption Under Section 158(2)(b) and 159(1)(f), Securities Markets Order, 2013 From Holding A Capital Markets Services License and Capital Markets Services Representative's Licence Respectively To Provide Investment Advice Upon Client's Request (Amendment No. 1)Guideline No. CMU/G-3/2017/3 – Amendment No. 101 January 2020Guideline on Providing Market Access to a Foreign MarketGuideline No. CMU/G-2/2019/704 November 2019Guideline on Conducting the Regulating Activity of Giving or Offering Investment AdviceGuideline No. CMU/G-6/2019/101 November 2019Guideline on Conducting Islamic Investment Business - Dealing and Arranging Deals in InvestmentsGuideline No. CMU/G-5/2017/514 December 2017Guideline on Application to Carry on Islamic Investment BusinessGuideline No. CMU/G-4/2017/414 December 2017Guideline to Persons Seeking for Exemption Under Section 158(2)(b) and 159(1)(f), Securities Markets Order, 2013 From Holding A Capital Markets Services License and Capital Markets Services Representative's Licence Respectively To Provide Investment Advice Upon Client's RequestGuideline No. CMU/G-3/2017/304 December 2017Guideline on Licensing and Recognition Application for Collective Investment SchemesGuideline No. CMU/G-2/2017/217 November 2017Guideline on Application for Capital Markets Services License and Capital Markets Services Representative's LicenseGuideline No. CMU/G-1/2017/103 November 2017
Commencement of Securities Markets Regulations, 2014
Exemption from Public Offering Registration Requirement
Guideline on Application to Carry on Islamic Investment Business
Guideline to Persons Seeking for Exemption Under Section 158(2)(b) and 159(1)(f), Securities Markets Order, 2013 From Holding A Capital Markets Services License and Capital Markets Services Representative's Licence Respectively To Provide Investment Advice Upon Client's Request
Guideline on Licensing and Recognition Application for Collective Investment Schemes
Guideline on Application for Capital Markets Services License and Capital Markets Services Representative's License
Process for Licensing or Recognition Applications
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