Broker and Dealer Companies
- Must be a member of an approved securities exchange
- Must be a company incorporated under the companies Act
- Must have a minimum paid up capital of F$30,000
- Must lodge a bank guarantee with the securities exchange
- Must have suitably qualified staff
- Must have suitably equipped premises
- Must have adequate facilities to comply with settlement arrangement of the securities exchange
- Must have suitable directors and shareholders
- Must not carry on any other business other than that for which he is licensed nor any activities which are not ancillary to that business
Application fee: F$1,500
Individual Brokers and Dealers
- Must be a member of an approved securities exchange
- Must have a minimum net worth of F$30,000
- Must lodge a bank guarantee with the securities exchange
- Must have appropriate qualifications and experience
- Must have suitably equipped premises
- Must have adequate facilities to comply with settlement arrangement of the securities exchange
- Must not carry on any other business other than that for which he is licensed nor any activities which are not ancillary to that business
Application fee: F$1,500
Investment Adviser Companies
- Must have a minimum paid up capital of F$30,000
- Must have suitably qualified staff
- Must have suitably equipped premises
- Must have suitable directors and shareholders
- Application fee: F$1,000
Individual Investment Advisers
- Must have a minimum net worth of F$30,000
- Must have suitably equipped premises
- Must have appropriate qualifications and experience
Application fee: F$250
Representatives of Brokers/Dealers/Investment Advisers
Only natural persons can be licensed as representatives. Applicants:
- Must have a diploma or certificate or higher qualification in related subject from a tertiary institution or completed study program approved by the CMDA; or
- Must have been dealing or giving securities advice for a continuous period of 2 years prior to 1997
Application fee: F$75
Renewal fee: F$25
Unit Trust Licence
To be granted a unit trust licence, the applicant must satisfy the requirements of the Unit Trusts Act, 1978. For additional information please contact the CMDA.
Application fee: F$1500
Representatives of Unit Trusts
See CMDA Notice No. 08/2000
Application fee: F$75
Renewal fee: F$25