On May 16, MAU FSC issued circular on renewal of annual licenses.
MAU FSC issued Circular Letter CL20250516 on renewal of licenses for 2025/2026.
Follows MAU FSC Jun. 2024 issued reminder re annual licenses renewal see #214808.
Overview
Reminded all Licensees and Registered/Authorised/Approved persons who are required to pay annual fees that due date for payment of license fees is Jul. 1, 2025.
Date set as per the Financial Services (Consolidated Licensing and Fees) Rules.
Quantum of fees payable specified in Financial Services (Consolidated Licensing, Fees) Rules 2008, as amended; licensees able to pay fees, fees of clients who are licensees of MAU FSC using One Platform from Jun. 2, 2025 by Automatic Payment Instruction.
Management Companies which have Deposit Accounts with MAU FSC, will also be able to pay their fees from their respective Deposit Accounts.
Should licensees encounter issues in renewing licenses via FSC One Platform by due date, they may use alternative method which will allow prompt renewal of licenses.
Latter requires to send relevant amount by bank transfer ensuring funds are received at MAU FSC's bank by due date (bank details in Annex 1); and then send excel copy of relevant list(s) for which payment is being made to the email address provided.
Insurance companies requested to bring contents of Circular Letter to attention of intermediaries working with them.
