FSP license

[sandi_mfeka]

I'd like to start a financial service business. However, I'm aware I need to register for an FSP license... My question is, would it be possible to rent an FSP license of an already existing company and use it for my business without registering for one from scratch? If so, how can I go about it.

Your assistance would be appreciated!

 

[6spdmanual]

I'd like to start a financial service business. However, I'm aware I need to register for an FSP license... My question is, would it be possible to rent an FSP license of an already existing company and use it for my business without registering for one from scratch? If so, how can I go about it.

Your assistance would be appreciated!

Nope you can’t do that. Each company has their own FSP number. The FSCA won’t allow that.

 

[mercurial]

I'd like to start a financial service business. However, I'm aware I need to register for an FSP license... My question is, would it be possible to rent an FSP license of an already existing company and use it for my business without registering for one from scratch? If so, how can I go about it.

Your assistance would be appreciated!

Sounds legit :erm:

 

[sandi_mfeka]

Nope you can’t do that. Each company has their own FSP number. The FSCA won’t allow that.

What If I were to form a partnership with a company that has an fsp license?

 

[6spdmanual]

What If I were to form a partnership with a company that has an fsp license?

Then this company should be the one dealing with the the customers and provide the financial services they are registered for. You’re not allowed to conduct any financial services if you’re not registered to do so.

 

[sandi_mfeka]

Then this company should be the one dealing with the the customers and provide the financial services they are registered for. You’re not allowed to conduct any financial services if you’re not registered to do so.

Thank you for the response!

 

[Natas]

Depends on the service/products you want to offer. Some FSP's as an example, offer white label unit trusts funds. They use their FSP license to issue unit trusts that carry someone else's brand.

FSP's are licensed for different kinds of products/services (category) and they are authorised based on the experience they have in the firm. For each category they need to have someone there will the requisite experience. you also need to think if you want to offer products or want to be an intermediary.