PUBLIC NOTICE - INVESTMENT ADVISORS

1.   All Investment Advisors are directed to submit applications for licensing/exemption to operate as Non-Bank Financial Institutions (“NBFIs”) on or before October 31, 2014 as provided for under the NBFIRA Market Intermediary Licensing Rules 2012, and the Guidance Note issued in September 2012. Investment Advisors who are no longer operating are required to notify the Authority, in writing that they are no longer operating an Investment Advisory business within 30 days from the date of this notice.

2.    Kindly be informed that operating an Investment Advisory business without an exemption contravenes financial services laws.

3.   The Public is warned not to deal with Investment Advisors who have not been licensed, exempted or registered by NBFIRA.

4.   The Capital Market Intermediary Rules are available on the NBFIRA website, www.nbfira.org.bw.

Sincerely yours,

_____________________

Mr. Michael Tlhagwane

ACTING CHIEF EXECUTIVE OFFICER