Subject Title - INSETA

Submitting documentsEmploymenthistoryOperationalabilityGeneralA detailed CV must be attached, indicating theexperience that the applicant has gained within thelast five (5) years. Full details of the person‟sresponsibilities must be provided to illustrate that theperson‟s experience is relevant to the category offinancial services and subcategory of financialproducts being offered/rendered.Reference letters from previous employers must besubmitted.Details of experience for the categories of financialservices and the subcategories of financial productsin respect of which the sole proprietor will berendering financial services and the key individualwill be managing or overseeing, must be provided.Reference letters from previous employers regardingresponsibilities of the applicant in the variouscategories must be submitted.The key individual and sole proprietor must have theoperational ability to fulfil the responsibilities imposedon the licensee and its key individuals by the Act.If the applicant is both key individual and arepresentative, a separate form (FSP 5) must becompleted.The applicant needs to sign an indemnity, authorisingthe FSB to verify all information.Once the Registrar is satisfied that the applicant meets all the requirementsfor the key individual role in the FSP, the Registrar will grant or refuse theapplication.The Registrar may impose restrictions or additional conditions on the FSPlicence, which may include specific conditions regarding the key individual.An example of a condition (in terms of Section 8(4)(b)) is the following:A person may be approved for the position as key individual subjectto the successful completion of the first level regulatory exam by acertain date.26 © INSETA - Section 1 12a