Financial Dealers Licensing Act [CAP70] - with Amendments.pdf

Financial Dealers Licensing Act [CAP70] - with Amendments.pdf

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LAWS OF THE REPUBLIC OF VANUATU Consolidated Edition 2018 FINANCIAL DEALERS LICENSING [CAP. 70] 1 Commencement: 31 May 1971 CHAPTER 70 FINANCIAL DEALERS LICENSING ACT QR 9 of 1971 QR 3 of 1978 Act 10 of 1988 Act 39 of 2005 Act 7 of 2012 Act 11 of 2017 Act 35 of 2017 ARRANGEMENT OF SECTIONS PART 1 PRELIMINARY PROVISIONS 1. Interpretation PART 2 PROVISIONS FOR REGULATING THE BUSINESS OF DEALING IN SECURITIES 2. Licensing of dealers in securities 3. Saving for certain transactions 4. Applications for a principal’s licence 4A. Application for a representative’s licence 4B. Period of licence 4C. Register of licensees 5. Deposits or guarantees required in connection with applications for principal’s licences 5A. Fit and proper criteria 6. Refusal and revocation of licences 7. Applicant or holder of licence to have opportunity of making representations and objections before licence refused or revoked 7A. Licensee to give notice of certain changes to Commissioner 8. Rules with respect to conduct of business of licensed dealers 9. Information to be furnished to Commissioner of holders of licences 10. Publication of names of holders of principal’s licences PART 3 GENERAL PROVISIONS FOR THE PREVENTION OF FRAUD 11. Penalty for fraudulently inducing persons to invest money 11A. Penalty Notice 12. Restriction on distribution of circulars relating to investment PART 3A MONITORING AND ENFORCEMENT 12A. Commissioner may require information and documents relating to licensee 12B. Commissioner may request information and documents 12C. On site inspections PART 3B INFORMATION SHARING 12D. Meaning of confidential information 12E. Disclosure of confidential information 12F. Disclosure to foreign government agency PART 4A INSIDER TRADING 15A. Interpretation 15B. Prohibited conduct by insiders 15C. Exception for underwriters 15D. Exceptions when acting under a legal requirement 15E. Certain arrangements exempted 15F. Powers of Court 15G. Civil liability for contravention of this Part PART 4B SECURITIES MARKET PRACTICES 15H. Market manipulation PART 5 SUPPLEMENTARY PROVISIONS 16. False statements 17. Offences committed by corporations 18. Services of notices 19. Power to make rules 19A. Guidelines 19B. Indemnity from liability 20. Commissioner may delegate powers FINANCIAL DEALERS LICENSING ACT
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