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

Determination of Fees Payable to the Registrar of Financial Services Providers

Table of Fees

 

 

In this Schedule-

 

"Act"

means the Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002), including any measure referred to in the definition of ‘this Act’ in section 1(1) of the Act,

 

"fee"

includes VAT payable on the amount thereof,

 

"section"

means a section of the Act,

 

and any word or expression to which a meaning is assigned in the Act, unless the context otherwise indicates, has the meaning so assigned to it.

 

SERVICES REQUIRED

FEES PAYABLE TO THE REGISTRAR FOR DIRECT APPLICATION

FEES PAYABLE TO THE REGISTRAR THROUGH RECOGNISED REPRESENTATIVE BODIES LESS 60%

1. Recognised representative bodies


1.1 Application by a representative body for recognition by the Financial Services Board in terms of section 6(4) of the Act.

R20 000

N/A

1.2 Delegation of a power to a representative body by the registrar, and recognition by the Financial Services Board (section 6(3) and (4), respectively, of the Act).

R5 000

N/A

1.3 Additional services rendered relating to recognised bodies.

R500 per hour

N/A

2. Licensing and matters incidental thereto


2.1 Application for the issue of a licence as a financial services provider (excluding an administrative FSP and a discretionary FSP) for the rendering of advice and/or intermediary service.

R1 000

R400

2.2 Application for the issue of a licence as a discretionary FSP.

R10 000

R4 000

2.3 Application for the issue of a licence as a discretionary FSP in addition to a licence referred to in 2.1 and 2.4.

R9 000

R3 600

2.4 Application for the issue of a licence as an administrative FSP.

R30 000

R12 000

2.5 Application for the issue of a licence as an administrative FSP in addition to a licence referred to in 2.1 and 2.2.

R15 000

R6 000

2.6 Application for the issue of a licence as an administrative FSP or discretionary FSP for a person who immediately prior to the date contemplated in section 7(1) of the Act as an investment manager (including a LISP) approved in terms of section 4(l)(a) of the Stock Exchanges Control Act, 1985 (Act No 1 of 1985), or section 5(1)(a) of the Financial Markets Control Act, 1989 (Act No 55 of 1989), as the case may be.

R500

N/A

2.7 Application for approval as a compliance officer:


a) Exercise of the functions referred to in section 2(c)(i), (ii) and (iii) of the Determination of Criteria and Guidelines for Approval of Compliance Officers, 2003;

R700

R280

b) Exercise of other functions referred to in the said Determination.

R300

R120

2.8 Application for approval of a key individual of a financial services provider.

R150 per key individual

R60 per key individual

2.9 Application for approval of a financial services provider’s auditor in terms of section 19 of the Act.

R150

R60

2.10 Amendment of a licensing restriction regarding a limitation on the financial product in respect of which advice and/or intermediary service is rendered.

R750

R300

2.11 Amendment of a licensing condition.

R500

N/A

2.12 Application for exemption from any provision of the Act (excluding exemption in terms of section 12 of the Act) submitted with an application for a licence as financial services provider.

R700

N/A

2.13 Application for exemption from any provision of the Act, after licensing.

R900

N/A

2.14 Application by a financial services provider for approval of an additional key individual.

R150 per key individual

N/A

2.15 Application for a change in name of a financial services provider.

R150

N/A

2.16 Additional certified copy of licence certificate in terms of section 8(5)(a)(ii)of the Act.

R50 per copy

N/A

2.17 Application for approval of a nominee company of an administrative FSP or a discretionary FSP where such an application is made separately from the applications referred to in paragraphs 2.2-2.5.

R5 000

R2 000

2.18 Application for approval of a clearing firm or foreign forex services provider of a forex services provider.

R700

R280