FSP Name

FSP No.

Component

Current reporting period

Previous reporting period

LIQUID ASSETS

1.

Cash

Capable of being converted without any penalty on capital into cash within 7 days

Capable of being converted without any penalty on capital into cash within 30 days

2.

100% of market value of a participatory interest in a money market portfolio

Capable of being converted without any penalty on capital into cash within 7 days

Capable of being converted without any penalty on capital into cash within 30 days

[Note: The total assets referred to in line 1 and 2 that are capable of being converted into cash within 30 days may not constitute more than 50% of the total assets in line 1 and 2]

3.

70% of the market value of a participatory interest in a collective investment scheme, other than a participatory interest in a money market portfolio or CIS hedge fund, provided that participatory interest are capable of being converted into cash within 7 days

4.

70% of the market value of a security listed on a licensed exchange provided it does not constitute more than 50% of total liquid assets

5.

TOTAL LIQUID ASSETS

ANNUAL EXPENDITURE

6.

Total annual expenditure

(including sales costs, finance costs and operational costs)

7.

Less staff bonuses

8.

Less employees’ and directors’, partners’ or members’ share in profit

9.

Less emoluments of directors, members, partners or sole proprietor

10.

Less other appropriation of profits to directors, members and partners

11.

Less remuneration that is linked to—

that in the absence of such revenue the FSP has no obligation to pay the remuneration

12.

Less depreciation

13.

Less bad debt

14.

Less any loss resulting from the sale of assets

15.

TOTAL ADJUSTED ANNUAL EXPENDITURE

CALCULATION

16.

Divide total adjusted annual expenditure by 52 (no. of weeks per year)

17.

Multiply the amount reflected in line 16 with—

(e)        4, in the case of a Category IV FSP

18.

Total liquid assets required

(Amount reflected in line 17)

19.

Deduct total liquid assets required from total liquid assets

(Line 5 minus line 18)

Management Declaration

This declaration must be signed by the Chief Financial Officer of the FSP or in the absence of such a person, a person of equivalent status, or the provider in the case of a provider being a sole proprietor (responsible person).

I, ……………………………………………………………….…………………………, (name of responsible person) declare that the information provided in this form is true and correct.

I am aware that the information provided may be subject to verification by the Registrar of Financial Services Providers, and should I submit false, incorrect or misleading information to the Registrar, this may impact on my compliance with the fit and proper requirements contemplated in section 6A of the Act.