Montserrat Investment Adviser License_Guidelines

Montserrat Investment Adviser License

The Securities Act of 2008, provides regulations on Montserrat Investment Adviser License. The license is regulated by Financial Services Commission Montserrat and the Eastern Caribbean Securities Regulatory Commission.

In relation to a collective investment scheme, means a person who is engaged by the management or investment company under a commercial arrangement not being a mere contract of employment to supply the company with advice as to the merit of investment opportunities or information relevant to the making of judgments about the merits of investment opportunities;

A foreign investment adviser that desires to give advice on securities or holds himself out as carrying on the business of giving advice on securities must comply with this regulation

Subject to the Securities Exchange License, an applicant a can be able to carry on the below businesses:

  1. a broker dealer;
  2. Limited service broker;
  3. an investment adviser;
  4. a custodian;
  5. a principal of a broker dealer, limited service broker or corporate investment adviser; or
  6. a representative of a broker dealer, limited service broker or investment adviser,

Permitted Activities

No person shall carry on business in Montserrat giving advice on securities, or hold himself out as carrying on that business, unless he is a licensed investment adviser. A person is regarded as carrying on business giving advice on securities if he, by way of business:

  1. advises others concerning investment in securities;
  2. issues analyses or reports concerning specific securities; or
  3. manages a portfolio of securities for another person
  4. without holding property of the other person; and
  5. on terms that preclude him from doing so.

A person is not regarded as carrying on business giving advice on securities if that person:

  1. is a broker dealer;
  2. is a financial institution licensed under the Banking Act;
  3. is a lawyer or a professional accountant who gives advice on securities as an incident to the practice of that person’s profession;
  4. gives advice on securities only in a newspaper, magazine, journal or other periodical publication
  5. which is generally available to the public; and
  6. which does not have as its principal or only object the provision of advice, or the issue of analyses or reports, concerning securities.

Legal Requirements



Element Requirement(s)
Entity Requirements
  • Partnership
  • Corporation
  • Liability Company
  • Any other entity as maybe approved by the commissioner
Director’s Requirements The licensee will need at least 2 (two) natural person Fit and Proper Directors of any jurisdiction
Shareholder requirements The licensee will need at least 2 shareholders
Authorised Representative The applicant must employ a principal licensed or authorised by the Commission who will actively participate in, and who will be responsible for the supervision of, its business
Auditor A licensee shall appoint annually an auditor who must be a chartered accountant, a certified public accountant, a member of the Institute of Chartered Accountants of the Eastern Caribbean (ICAEC) or some other suitably qualified person, satisfactory to the Commission
Insurance Requirement Every licensee, other than an accredited principal and representative, shall, to the satisfaction of or on terms prescribed by the Commission, effect and maintain appropriate policies of insurance on such terms and conditions as may be determined by the Commission 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 securities business or its business as a custodian or management company of a collective investment scheme.
Compliance Officer, Money-laundering Reporting Officer and Money Laundering Compliance Officer The law has not yet defined the need of a Compliance Officer
Montserrat Office The applicant will operate an office in Montserrat.
Minimum Capital Requirements EC$250,000.00

Ongoing Obligations

  • A licensee shall within 12 months of the end of the financial year, forward the audited financial statements referred to in subsection to the Commission unless prior written approval for an extension has been granted by the Commission. The audited financial statements referred to in subsection shall cover a period of not more than eighteen months beginning on the date the licensee was incorporated, or if the licensee has previously prepared audited financial statements, beginning at the end of the period covered by the most recent audited financial statements.

About Valsen Fiduciaries

Valsen Fiduciaries is a licensed independent global service provider of a broad range of fiduciary, administrative, legal, corporate secretarial and support services.

    1. Company formations and Administration
    2. Assistance with Bank Account opening
    3. Collective Investment Setup and Administration
    4. Intellectual Property Registrations and Maintenance.
    5. Trusts and Foundations setup and administration
    6. Online Payment Gateway Solutions
    7. Banking Licenses and PSP, E-Money, E- Wallet Licenses
    8. Yacht and aircraft registrations.
    9. Cryptocurrency Solutions (ICO, STO, Crypto Exchanges etc)

The Valsen Advantage

  • We will advise you on the optimal legal structure for your requirements, size, expectations and circumstances. We have extensive knowledge of a wide range of securities dealer licenses in all major jurisdictions.
  • Valsen will assist to complete every form for each process in the best way we know how (Based on our many years’ experience with various regulators and service providers across the world)
  • We are very hands on in the post filing period checking with re regulator and service providers and updating you regularly. Any queries raised by the regulators and service providers during processing will be quickly synthesized by us and we shall craft the right responses to move the process forward fast.
  • We have a full in-house compliance support for all compliance requirements with the regulator and service providers

Our Contact Details

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  • Tel: +248 4321018
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