Restriction on the Advertisement of Activities
Requiring a Licence, Authorisation, or Registration
FSC/3/PN/013
It is hereby notified for general information that in accordance with:
1. Section 74(1) of the Financial Services Commission Act, Act No. 8 of 2023 (the Act), no person other than a person licensed, authorised, or approved under the Act shall publish or cause to be published an advertisement in connection with the conduct of an activity or provision of a service which requires a license, approval, authorisation or registration under the Act; and
2. Section 74(2) of the Act, no persons licensed, authorised, or approved under a relevant enactment shall publish or cause to be published an advertisement in connection with the conduct of an activity or provision of a service which requires a license, approval, authorisation, or registration under the Act in a manner which is unclear, false, or misleading in any material particular.
Any person or entity failing to comply with this Notice, may result in the Financial Services Commission pursuing administrative sanction(s), including the imposition of monetary fines, as set out in the Act.
It is the duty of the public to keep abreast of updates regarding the restriction on the advertisement of activities where they have not been licensed for the activity by the Commission.
FINANCIAL SERVICES COMMISSION
31st May 2023