Public Notice – Compliance with the New Capitalisation Requirements

Notice is hereby given to licensees of the International Financial Services Commission (the “Commission”) that the transition period for licensees to comply with the fully paidup and unimpaired capital (“capital requirement”) established pursuant to regulation 4 (2) of the International Financial Services Commission (Licensing) (Amendment) Regulations, 2016, expires on 1st July 2018. In this respect, if licensees have not yet done so, they are required to take immediate steps to comply with the capital requirement on or before 1st July 2018.