Subject Title - INSETA

A FSP may request additional product categories to be added to its licenceand it may also have more than one licence because the structure of thebusiness may be such that products are grouped together, which makes itlogical to have a specific licence for that part of the business. The FAIS Actrequires that a certified copy of the FSP licence must be displayed in aprominent and durable manner within every business premises of the FSP. 12810.1.2 Different types of conditionsThere are a few standard conditions that appear in each licence – forexample:"I. The licence authorises the licensee to carry on business in respect offinancial advisory and/or intermediary services as ordinary financial servicesprovider/discretionary FSP administrative FSP in respect of the followingfinancial product/products:________2. Further conditions/restrictions:1. The financial services provider must inform the Registrar in writing, byfacsimile or in an appropriate electronic format, within 15 days after the changehas taken place, of any change in respect of business information of thefinancial services provider as provided in Form FSP1, FSP3, FSP4, FSP9, FSP10,FSP10A or FSP11, respectively, of the Application Form which was submitted bythe provider for purposes of obtaining a licence, and in particular relating to theprovider's representatives, auditor, compliance officer or any foreign clearingfirm or foreign forex service provider involved (if any) and nominee company orindependent custodian involved or the shareholders, directors or trustees of anysuch company or custodian (if any).2. The financial services provider must at all times during the currency of theprovider's licence maintain the services of any key individual or key individualsmentioned in the information submitted on the said Application Form, and mustas regards changes in respect of such information relating to a key individual,or appointment of a new key individual, of the provider, in addition to actingalso in such cases in accordance with the procedure and time limit set out inCondition 1, also ensure full compliance with Section 8(4)(b) of the Act, theprovisions of which must be regarded as included in this Condition.3 The financial services provider must within 15 days of the datecontemplated in Section 7 of the Act, submit a copy of the register kept interms of Section 13(3) of the Act to the Registrar, and must thereafter inaccordance with the procedure and time limit set out in Condition 1, inform theRegistrar of any change effected to the details as contained in that register.4. The financial services provider must not in any manner change the name of128 Section 8(8) of the FAIS Act© INSETA - Section 1 12a 193