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Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002)


Financial Advisory And Intermediary Services Regulations, 2003

Chapter VI : Matters relating to Foreign Forex Services Providers and Clearing Firms

14. Approval of foreign entities


(1) Procedure


A forex services provider seeking, in accordance with a provision of the Forex Code, an approval by the Registrar of a clearing firm or a foreign forex services provider, must submit an application for approval to the Registrar in accordance with section 3(2) of the Act, containing at least the following information:

(a) Full particulars as regards the name and physical location and all other identification particulars of the relevant clearing firm or foreign forex services provider;
(b) full particulars as regards any authorisation required bv such , firm or provider for the conduct of business in the country in which it is located, and of the terms of any such authorisation so wanted; and
(c) full particulars as regards the nature of the regulatory environment under which the firm or provider operates in the country concerned.