Licenses & Registrations

CMDA has the mandate under the Maldives Securities Act to license and regulate capital market intermediaries. CMDA regulates the market by ascertaining the fit and propriety of the companies and individuals applying for licenses to undertake regulated capital market activities.

Licensing ensures an adequate level of investor protection and provides sufficient safeguards to protect investors from possible default by market intermediaries or problems arising from the insolvency of such intermediaries. It instills confidence among the investors by giving assurance that the licensed organizations and their representatives are competent and credible to conduct such regulated activities.

 

Licensed Entities - View Details

                                    
Stock Exchange Company License - 1 License  
Central Depository License - 1 License

Dealers License - 2 License
Dealer's Representative License  - 2 License
Custodian License - 2
Investment Adviser License - 3 License       

Registered Entities - View Details


Shariah Adviser Registration | 1 Registration

Investment Fund Registration | 1 Registration

Information Packages on Licenses & Registrations

 Type  Package
Stock Exchange License Stock Exchange Company Licensing Regulation
Regulation on Conduct of Central Depository Regulation on Licensing & Conduct of Central Depository
Dealers License

Dealer / Dealer's Representative Licensing Regulation 
Application Requirements & Procedures
Application Checklist

Dealer's Representative License

Dealer/Dealer's Representative Licensing Regulation
Application Requirements & Procedures
Application Checklist

Credit Rating Agency License Rules on Credit Rating Agencies
Application Requirements & Procedures
Application Checklist
Custodian License Regulations on Institutions providing Custodial Services
Principal Adviser Registration Guideline on Principal Advisers
Application Requirements & Procedures
Shariáh Adviser Registration  Regulation on registration of Shariáh Advisers
Application Requirements & Procedures
Investment Adviser License Regulation on Investment Advisers
Application Requirements & Procedures
Application Checklist
Other Forms Clearance Form
Employer Notification Form

Application Forms

Type Form
Stock Exchange Company License Application for the license to establish a Stock Exchange Company
Central Depository License Application for license to operate a Central Depository
Dealers License Application form for Dealers License
Application form for renewal of Dealers License
Dealer's Representative License Application form for Dealer's Representative License
Application form for renewal of Dealer's Representative License
Credit Rating Agency License Application for registration as a CMDA recognized Credit Rating Agency
Custodian License Application for license to provide Custodial Services (for institutions licensed by the MMA and CMDA)
Application for license to provide Custodial Services (for institutions not licensed by the MMA and CMDA)
Principal Adviser Registration Application Form
Other Forms Clearance Form
Employer Notification Form
Shariah Adviser Application for Shariah Adviser Registration
Investment Adviser Application for Investment Adviser License (Corporate)
Application for Investment Adviser License (Individual)

Ongoing Compliance

Regulation of Conduct of Securities Business English | Dhivehi
Regulation of Anit-Money Laundering in Securities Related Transactions English | Dhivehi

Licensing Examinations

CMDA Institute conducts examinations to assist interested parties to qualify for licenses to conduct the following capital market activities.

  • Investment Adviser License
  • Dealers Representative (broker) License
  • Shariah Advisers Registration
  • Principal Adviser Registration

 

Click here for more information on licensing examination.