FSCA FSCA
Forex and CFD Brokerage Licensing
If you are looking to establish a Forex and CFD brokerage in South Africa, you will need to obtain a license from the Financial Sector Conduct Authority (FSCA). The FSCA is the regulatory body responsible for overseeing the licensing and supervision of financial service providers in South Africa.
To obtain a Forex and CFD brokerage license from the FSCA, you will need to meet certain requirements. These requirements include having a registered company in South Africa, a minimum capital requirement, and a qualified and experienced management team. You will also need to demonstrate that you have appropriate risk management systems and internal controls in place.
Once you have met the necessary requirements, you can apply for a Forex and CFD brokerage license from the FSCA. The application process involves submitting various documents, including a business plan, financial statements, and compliance policies and procedures.
The FSCA will review your application and conduct a thorough assessment of your business to ensure that you meet all the necessary requirements. If your application is successful, you will be granted a Forex and CFD brokerage license, which will allow you to operate legally in South Africa.
Obtaining a Forex and CFD brokerage license from the FSCA is a complex process that requires careful planning and preparation. At License Guide (South Africa), we have a team of experts who can assist you with the entire licensing process, from initial planning to final approval. Contact us today to learn more about how we can help you obtain your Forex and CFD brokerage license from the FSCA.
Outsourced Compliance
You now have the option to outsource your Compliance and AML Officer function to approved individuals from Licence Guide (South Africa).
According to the Code on Outsourcing of Compliance Function, the compliance officer of a Securities Dealer licensee must be located in South Africa and meet specific requirements.
The Financial Sector Regulation Act (FSCA) of South Africa mandates that all Securities Dealer License applicants and licensees must employ a local, experienced Compliance and Money Laundering Officer or outsource the Compliance function to an approved outsourced service provider recognized by the FSCA.
Our skilled and knowledgeable Compliance Officers have undergone evaluation and approval by the FSCA to offer services related to the Compliance Function to licensees.
Serviced Offices
Our company provides assistance to clients in establishing a serviced office rental in South Africa, as it is a mandatory requirement by the FCSA. We offer a range of services, including locating and setting up suitable premises that meet the FSCA’s requirements for conducting business operations and record-keeping.
We also provide additional services such as purchasing computer hardware to provide a complete setup package for our clients’ South Africa office.
Our goal is to help our clients efficiently operate their business in compliance with the FSCA’s regulations and requirements.
About FSCA
The FSCA’s purpose is to function as the market conduct regulator within the Twin Peaks regulatory model in South Africa, which was implemented through the Financial Sector Regulation Act. FSCA mandate covers all financial institutions that offer financial products or services, as defined by the Financial Sector Regulation Act. The FSCA’s strategic objectives outline our mandate and include the following:
- Safeguarding financial customers by ensuring that they receive appropriate financial products and services.
- Regulating and overseeing the conduct of financial institutions to promote fair competition in the financial sector.
- Preventing and detecting financial crimes and misconduct to enhance the integrity of the financial sector.
- Ensuring that all South Africans have access to suitable financial products and services to promote financial inclusion.
- Identifying and mitigating systemic risks that may arise from financial institutions’ conduct to contribute to the stability of the financial system.
Our strategic objectives serve as a guide for our work as we strive to maintain the highest standards of market conduct regulation in South Africa’s financial sector.
