FSP Licensing

[@PrinceLekhuleni-y6m]

My lady, on behalf of everyone. Thank you for taking your time and sharing such information. I had to write my RE1 in Dec, got carried over by vibes. Today is the 1st, my attitude is changed. Got 80% on my RE5 1st attempt. Aiming for 90%+ on RE1 1st attempt

[@PRASH32947]

Amazing content! Thank you so much for these videos ...

[@Greatestmasterpiece]

In a case of a sole proprietorship is the license display the same?

[@rlptraining6785]

HI! Yes, the displlay rules apply to all FSPs regardless of the ownership structure

[@Greatestmasterpiece]

Can a license application be declined if the KI does not indicate if he's going to operate as a sole proprietorship

[@KutlwanoMbolekwa]

@@Greatestmasterpiece According to my understanding, when registering for an FSP licence the proprietor will be required to indicate whether it is a sole proprietorship or not. Then the FSP has to indicate it's Key individual/s, so according to my understanding the Commissioner will automatically be able to identify a Key individual operating as a sole proprietor. But going beyond my understanding and stating factual information, if the Commissioner requires that sort of information and the FSP/sole proprietor fails to provide it, then the application will be declined.

[@KutlwanoMbolekwa]

Hi there, quick question, how is a Key individual not a juristic person if that Key individual is the sole proprietor of that FSP?

[@rlptraining6785]

Ooh this is my favourite question of the day, and makes me think that you are an over-thinker? The concept of a juristic rep (JR) is more aimed at simplifying the admin around the representatives of the JR and will not be applicable in the scenario you proposed. I would love to discuss this with you. Send us an email to [e-mail] and we'll arrange a quick Zoom explanation at no charge