Regulation on Capital Markets (Fees), 2012

Citation
Regulation 8 of 2012
Date
25 June 2012
Language
English
Type
Legislation
Rwanda

Regulation on Capital Markets (Fees), 2012

Regulation 8 of 2012

Pursuant to the Law N° 11/2011 of 18/05/2011 establishing the Capital Markets Authority especially in its articles 3 & 4Pursuant to the Law N° 01/2011 of 10/02/2011 regulating the Capital market, especially in its article 74;Pursuant to the Law N° 40/2011 of 20/09/2011 regulating the Collective Investment Schemes especially in its article 64;The Capital Market Authority hereinafter referred to as the “AUTHORITY”, decrees:

Chapter 1
Preliminary

Article 1 – Purpose

These regulations are meant to guide the market players on fees that the Capital Market Authority shall be charging on different services given.

Article 2 – Interpretation

In these Regulations, unless the context otherwise requires:“Act” means the Law N° 01/2011 of 10/02/2011 regulating the Capital Market in Rwanda;“Authority” means the Capital Markets Authority;“Capital Markets business” has the meaning as assigned to it by the Act.

Article 3 – Scope of Regulations

These regulations apply to persons applying for authorization to carry out in the Republic of Rwanda, capital markets business that the Authority has powers to regulate by virtue of the Capital Markets Act.

Article 4 – Fees

Every application for authorization to carry out capital markets business shall be accompanied by the fees prescribed in the annexes to these regulations.

Article 5 – Waiver of fees

The Authority may, if it deems fit, waive the requirement to pay the prescribed fees in respect of any application.

Article 6 – Repealing inconsistent provisions

All prior regulatory provisions contrary to this regulation are hereby repealed.

Article 7 – Commencement

This regulation shall come into force on the date of its publication in the Official Gazette of the Republic of Rwanda.

Annex 1

Licensing fees

Regulated activityApplication feeAnnual license fee
1.Securities Exchange1,000,0001000,000
2.Securities Broker600,000600,000
3.Securities Sponsor500,000500,000
4.Investment Advisor500,000500,000
Investment manager500,000500,000
Investment bank500,0001000,000
Custodian500,0001000,000
Clearing Houses500,0001000,000
Securities Dealers500,000500,000
Registration of Collective Investment Schemes500,000500,000
Credit Rating Agencies500,000500,000
Collective Investment Schemes500,0001000,000

Annex II

Other fees

1.Corporate Bond and Commercial papers0.025% of the total value of the bond
2.Bonus and Rights Issues0.025% of the issue
3.Prospectus /Information Memorandum Evaluation fees0.025% of the total offer
4.Collective Investment Schemes prospectus evaluation fee0.05% of the total offer
5.liquidation fees for schemes0.05% of the total assets
6.Other Capital market business and services not provided for in these regulationsTo be determined by the Authority
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History of this document

25 June 2012 this version
Commenced
06 June 2012
Assented to