A Financial Service Provider (FSP) is a company that provides financial advice and/or intermediary services (such as brokerages and insurance firms).
Who is required to register as an FSP?
The Financial Sector Conduct Authority (FSCA) or the equivalent in your country must licence your FSP. You must be registered as an FSP Key Individual or Representative.
What exactly is an FSP Licence?
Certain financial advisers are sometimes permitted to function as representatives or important individuals for the firm for which they work, in which case the company is the registered Financial Services Provider (FSP) License holder.
What exactly is an FSP number?
“An FSP number is an indicator that the holder of the FSP number fulfils the severe standards imposed by the FSCA in order to be licensed to provide financial services and advice,” Mitchell explains.
What is the FSp’s new name?
The Financial Services and Markets Authority
The Financial Sector Conduct Authority (“FSCA”) has taken the position of the Financial Services Board (“FSB”).
Qualifications to Become an FSP in South Africa
When applying to become a Financial Service Provider, a certain criterion is employed. You will be evaluated based on the following criteria, whether you are an individual or a corporation.
You must possess attributes of honesty and integrity.
You must acquire knowledge, expertise, and qualifications in the field.
Capability to operate
Financial stability is essential in the corporate world.
Continue your professional growth.
How much time does it take to obtain an FSP licence?
The FSB’s processing period for an application might range between 6 and 12 weeks. So don’t squander your time compiling the programme. After all, when it comes to starting your own business, time is money.
How to Obtain a South African FSP License
A FSP License is a permit received from the FSCA. This licence allows certain financial advisers to function as representatives or important individuals for the firm for whom they work, even though the company is the real registered Financial Services Provider (FSP) License holder.
A Financial Service Provider (FSP) is a company that provides financial advice and/or intermediary services. It is made up of key personnel who are accountable for the FSP and all of its representatives.
