The licensing fais Completing your FAIS license application

The licensing “fais” Completing your FAIS license application forms (FSB forms) Matt-D Consulting

WHICH FORMS MUST I COMPLETE? o FSP 1 n n Everyone must complete this form Provide basic details of business structure, contact persons, banking account (NB: note the requirements in respect of a “trust account” – not normally applicable to a financial planner) Matt-D Consulting

WHICH FORMS MUST I COMPLETE? o FSP 2 n n Everyone must complete this form Indicate “what” the license is required for – “product based” “Financial planners” will apply for items in Category I – important to consider the appropriate items and understand differences (see definitions on form and in Act) Anyone wishing to “manage investments” will apply for a license under Category II Matt-D Consulting

WHICH FORMS MUST I COMPLETE? o FSP 3 n Complete one form for EACH of the following: p Directors p Shareholders p Members p Partners p Trustees Matt-D Consulting

WHICH FORMS MUST I COMPLETE? o FSP 4 n n Complete in respect of EACH key individual Must show fit and proper status of each key individual, to be assessed by FSB Matt-D Consulting

WHICH FORMS MUST I COMPLETE? o FSP 5 n n n Complete in respect of EACH representative Only for record-keeping by FSB FSP responsible for assessing representative’s fit and proper status and keeping register Matt-D Consulting

WHICH FORMS MUST I COMPLETE? o FSP 5 A n Complete in respect of each key individual of each representative (i. e. where representative is a juristic person) Matt-D Consulting

WHICH FORMS MUST I COMPLETE? o FSP 6 n n n Everyone must complete this form Details of compliance officer Very important: detail regarding how compliance officer will function independently Matt-D Consulting

WHICH FORMS MUST I COMPLETE? o FSP 7 n n n Operational ability needs to be shown Note the number of compliance and FICA questions See example FICA requirement – internal rules Matt-D Consulting

WHICH FORMS MUST I COMPLETE? o FSP 8 n n Financial soundness must be shown Subject to exemption in Notice 96 of 2003 Matt-D Consulting

WHICH FORMS MUST I COMPLETE? o FSP 9 n n Details of external auditor to be provided Subject to exemption in Notice 96 of 2003 Matt-D Consulting

WHICH FORMS MUST I COMPLETE? o FSP 10 n n Details of nominee company or independent custodian Only relevant to “investment managers” and “LISPS” Matt-D Consulting

WHICH FORMS MUST I COMPLETE? o FSP 10 A n n Details of shareholders, directors/trustees of nominee company or independent custodian Only relevant to “investment managers” and “LISPS” Matt-D Consulting

WHICH FORMS MUST I COMPLETE? o FSP 11 n Only needed for FSP’s involved in forex investment business Matt-D Consulting

WHICH FORMS MUST I COMPLETE? o FSP 12 n Complete only if an exemptions is being applied for Matt-D Consulting

WHICH FORMS MUST I COMPLETE? o FSP 13 n n Only submit if in-house compliance officer will be used and compliance officer not yet approved by FSB Application for approval as a compliance officer Matt-D Consulting

WHICH FORMS MUST I COMPLETE? o FSP 14 A n n Everyone must complete this form Checklist of forms and declaration to be signed Matt-D Consulting

WHICH FORMS MUST I COMPLETE? o FSP 14 B n Summary of fees payable to FSB (if applying directly to FSB) Matt-D Consulting