Subject Title - INSETA

Understanding the process step by step1Submitapplication2Registrarconsidersapplication3Registrargrantsapplication3ARegistrarimposesconditions onlicenceThe applicant lodges an application with the Registrar tobecome an authorised financial services provider. The relevantforms must be completed and submitted. The requiredsupporting documents must be submitted.The Registrar will consider the application and may requireadditional information.The Registrar may consider additional information obtainedfrom external sources, provided the applicant was givenopportunity to comment on the information.Once the Registrar has all the required information, a decisionis made to either grant the application or refuse it.The Registrar may impose conditions and/or restrictions onthe FSP licence with regard to: all facts and information available to the Registrarpertaining to the applicant and any key individual ofthe applicant. the category of financial services which the applicantcould appropriately render or wishes to render. the category of financial services providers in whichthe applicant will be classified in relation to the fit andproper requirements. any guidelines provided to the Registrar by theAdvisory Committee or the Board.If after date of granting the licence: a key individual is replaced by a new key individual ora new key individual is appointed or takes up office there is a change in the personal circumstances of akey individual which affects his fitness and proprietynegativelyhe is prohibited from managing and overseeing the licensee'sbusiness in relation to the rendering of financial services,unless the Registrar has approved an application by the keyindividual and published it in the Gazette.102 © INSETA - Section 1 12a