Registrants Disclosure and Filing Obligations in the Securities Market

In this week’s article, we will discuss the disclosure and filing obligations of Registrants under section 51 of the Securities Act, 2012 (“SA 2012”). According to the legislation, Registrants are defined as persons registered or required to be registered under Part IV of the Act, these include entities conducting business activities of Investment Advisers, Broker-Dealers and Underwriters.

Investment Adviser, Broker-Dealer and Underwriter

An Investment Adviser provides investment advice in exchange for a fee while a Broker-Dealer, in addition to providing investment advice, buys and sells securities on behalf of its clients, as well as executes trades on its own behalf. Activities performed by Broker-Dealers include Repurchase Agreement Selling, Collective Investment Scheme and Wealth Management and Discretionary and Non-Discretionary Trading. On the other hand, an Underwriter provides services in connection to the distribution of securities. Within these Registrant categories, individuals can act on behalf of the entity and comprise the following:

Download PDF