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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, 2006

Table of Fees 2006

 

 

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,

 

"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%

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.

R19 135

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).

R4 760

N/A

1.3 Additional services rendered relating to recognised bodies.

R550 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 200

R480

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

R9 560

R3 824

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.

R8 520

R3 408

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

R28 000

R11 200

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.

R13 160

R5 264

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(1)(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 the issue of a licence as a hedge fund FSP in addition to a licence referred to in 2.1, 2.2 and 2.4 above.

R2 000

R800

2.8 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;

R875

R350

b) Exercise of other functions referred to in the said Determination applicable to appointment of a Compliance Officer

R300

R120

c) Exercise of other functions referred to the appointment of a Compliance Officer where such officer is representing a compliance practice and replace a Compliance Officer

R100

R40

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

R220 per key individual

R88 per key individual

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

R140

R56

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

R720

R288

2.12 Amendment of a licensing condition.

R450

N/A

2.13 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.

R4 200

N/A

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

R4 800

N/A

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

R220 per key individual

R88 per key individual

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

R250

R100

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

R50 per copy

N/A

2.18 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.

R4 740


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

R670

R268

2.20 Application for reprinting of licence certificate

R150

N/A