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ARTICLE · 22 AUGUST 2019

South Africa Forex License

G. Vrikis & Associates LLC
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The Financial Services Board of South Africa (FSB), now renamed to Financial Sector Conduct Authority (FSCA), is a supervisory body of financial services industry in South Africa

South AfricaFinance and Banking
G. Vrikis & Associates LLC
G. Vrikis & Associates LLC
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The Financial Services Board of South Africa (FSB), now renamed to Financial Sector Conduct Authority (FSCA), is a supervisory body of financial services industry in South Africa under the Financial Advisory and Intermediary Services Act 37 of 2002 (FAIS Act). The company that intends to conduct Forex business on a discretionary basis must obtain a Category I or Category II Discretionary FSP license with FSCA.

Overview

Annual levy paid by a licensed FSP is calculated by FSCA depending on the total gross premiums (as reported by an auditor/accounting officer) and on number of Key Individuals and Representatives in FSP.

Entities registered both in and outside South Africa can apply for a license with FSCA.

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