Fees & Charges

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