Full Service Dealer
The most comprehensive investment dealer licence in Mauritius — enabling dealing in securities for own account and on behalf of clients, with full advisory and execution capabilities.
A Full Service Dealer licence is the broadest category of Investment Dealer licence issued by the FSC under the Securities Act 2005. It authorises the holder to deal in securities both for its own account (proprietary trading) and on behalf of clients, provide investment advice in connection with dealing activities, and operate as a market maker in specified securities. The Full Service Dealer is the Mauritius equivalent of a full-service broker-dealer, combining execution, advisory, and principal trading capabilities under a single licence. This makes it the licence of choice for integrated securities firms, prime brokers, and institutions seeking the full range of market-facing activities.
Permitted Activities
A Full Service Dealer may execute client orders, engage in proprietary trading, act as market maker, provide investment advice in connection with transactions, underwrite securities, and participate in primary market placements — the full spectrum of broker-dealer activities.
Capital Requirements
Full Service Dealers are subject to the highest minimum capital requirements among the three dealer categories, reflecting the principal risk associated with proprietary trading and market making activities. Capital must be maintained at all times.
Transaction Monitoring
Full Service Dealers must implement robust transaction monitoring systems capable of detecting market abuse, front-running, and AML/CFT red flags. Systems must be approved by the compliance function and reviewed periodically.
Clearing and Settlement
Full Service Dealers must have appropriate clearing and settlement arrangements in place, either through direct membership of clearing systems or via approved clearing agents. PrimeLuxe assists with the documentation of clearing arrangements for FSC approval.
Compliance Framework
A comprehensive compliance framework is mandatory — including a compliance officer, AML/CFT programme, market conduct policy, conflicts of interest policy, best execution policy, and client classification procedures.
Licensing Process
Full Service Dealer applications are among the most scrutinised by the FSC, with particular focus on capital adequacy, technology infrastructure, compliance frameworks, and the qualifications of key persons. PrimeLuxe manages the full application process.
Ready to establish your Dealer?
Our team will guide you through every step — from initial structuring advice through to incorporation, licensing, and ongoing administration.