National Supervisory Authority & Licensing Qualification Dossier • Latin America & Africa
FSCA
South AfricaFinancial Sector Conduct Authority
Source / Native Reference: 南非金融部门行为监管局
- Supervisory tier
- Tier-2
- License classes
- 2
- Licensed records
- 65
- Active / regulated
- 46
Statutory Supervisory Mandate & Scope
China Securities Regulatory Commission (CSRC) (CSRC) is the Tier-1 statutory financial markets and securities supervisory authority in China. It grants and supervises financial services licences across broker-dealers, investment advisers, asset managers, and market operators, enforcing initial and ongoing prudential capital requirements, segregated client asset rules, market conduct standards, and public register disclosures.
Prudential Tier Assessment
Tier-2Tier-2 national capital markets, securities, and derivatives supervisory authority in South Africa, IOSCO member standards-aligned.
National licensing qualifications & statutory authorisation classes (FSCA)
Authorisation categories, permitted institutional and retail activities, minimum initial capital adequacy, and ongoing prudential solvency rules enforced by FSCA in South Africa.
| License class / code | Official designation | Permitted institutional & retail activities | Minimum initial / base capital | Ongoing prudential & solvency rule |
|---|---|---|---|---|
| Category 1 / Principal Broker-Dealer | Full-Scope Securities & Derivatives Dealer (Market Maker / Principal) | Dealing as principal or market maker in securities, FX, CFDs, futures, options, and underwriting. | USD $150,000 – $500,000 equivalent minimum paid-up capital | Risk-weighted capital adequacy + minimum liquid capital buffer ≥ 25% of annual fixed overheads. |
| Category 2 / Agency Broker & Asset Manager | Securities Brokerage (Agency / STP) & Discretionary Portfolio Management Licence | Order execution, reception and transmission of client orders, discretionary portfolio management, and investment advisory. | USD $75,000 – $150,000 equivalent minimum paid-up capital | Strict client money segregation, best-execution monitoring, and quarterly regulatory financial returns. |
Investor compensation, client money segregation & digital-asset regime
Statutory counterparty protections, custody reconciliation mandates, and virtual-asset licensing status under FSCA.
National Investor Protection / Compensation Scheme (South Africa)
- Maximum coverage per client
- Subject to statutory national investor protection fund limits and segregated trust priority
- Eligible counterparties & scope
- Retail clients of licensed securities and investment brokerage firms.
FSCA Client Money & Safe Custody Segregation Rules
- Reconciliation & audit cadence
- Daily reconciliation of segregated client trust bank accounts against client trading ledger balances.
- Approved custodian requirements
- Client funds and securities must be held in bankruptcy-remote statutory trust accounts at licensed commercial banks or central securities depositories.
FSCA Digital Asset / Tokenized Securities & VASP Regulatory Framework
- Travel Rule, custody & stablecoin rules
- FATF Recommendation 16 Travel Rule enforcement and institutional qualified custody standards.
Primary Governing Statutes & Rulebooks
- Securities and Capital Markets Act of South Africa
- FSCA Licensing, Prudential Capital Adequacy & Conduct of Business Rules
- Client Money & Custody Asset Segregation Regulations (South Africa)
- IOSCO Principles of Securities Regulation & National AML/CFT Rulebook
Regulatory Reporting & Audit Obligations
Quarterly capital adequacy returns and annual IFRS audited financial statements submitted to FSCAAnnual independent auditor attestation on Client Money and Safe Custody complianceTransaction reporting, market abuse surveillance (MAR), and AML/CFT suspicious activity reporting
Cross-Border Equivalence & Passporting
Operates under South Africa national jurisdiction and IOSCO MMoU cross-border supervisory cooperation.
Supervised institutions & FSCA licence records in our database
65 licence records referencing FSCA (46 regulated/registered, 18 flagged with warnings/revocations).
| Institution | Licence number | Status | Licensed legal entity | Effective date | Verification |
|---|---|---|---|---|---|
| Absa Group | 1986/004794/06 | Regulated | ABSA BANK LIMITED | 2024-02-09 | |
| African Bank Limited | 46094 | Regulated | AFRICAN BANK LTD | 2015-11-08 | |
| Bank Zero | MBOOO1 | Regulated | BANK ZERO MUTUAL BANK | 2020-10-20 | |
| Bidvestbank | 25466 | Regulated | BIDVEST BANK LIMITED | 2006-10-08 | |
| Discovery Bank | 48657 | Regulated | DISCOVERY BANK LIMITED | 2017-10-10 | |
| TymeBank | Number pending check | Regulated | TYME BANK LTD | 2018-07-24 | |
| Investec | 1969/004763/06 | Regulated | INVESTEC BANK LIMITED | 2004-12-02 | |
| Standard Bank PLC | Number pending check | Regulated | Standard Bank PLC | — | |
| BAM(Global network record) | FSP 51619 | Regulated | Binance Bahrain BSC © | — | |
| AvaTrade(Global network record) | 45984 | Regulated | AVA CAPITAL MARKETS (PTY) LTD | 10/11/2015 | |
| FxPro(Global network record) | 45052 | Regulated | FXPRO FINANCIAL SERVICES LTD | 2015-07-07 | |
| ThinkMarkets(Global network record) | 49835 | Exceeded scope | TF GLOBAL MARKETS (SOUTH AFRICA) (PTY) LTD | 2019-02-05 | |
| AUS GLOBAL(Global network record) | 52171 | Registered | AUS GLOBAL ZA (PTY) LTD | 2022-03-11 | |
| AVA(Global network record) | 45984 | Regulated | AVA CAPITAL MARKETS (PTY) LTD | 2015-10-11 | |
| easyMarkets(Global network record) | 54018 | Regulated | EF WORLDWIDE (PTY) LTD | 28/06/2024 | |
| Exness(Global network record) | 51024 | Regulated | EXNESS ZA (PTY) LTD | 2020-12-11 | |
| Trade Nation(Global network record) | 49846 | Regulated | TRADE NATION FINANCIAL (PTY) LTD | 2019-05-02 | |
| VELOCITY(Global network record) | 43295 | Regulated | VELOCITY TRADE FINANCIAL SERVICES (PTY) LTD | 2011-11-08 | |
| Viverno(Global network record) | 49479 | Regulated | BDSWISS MARKETS SA (PTY) LTD | 2018-10-10 | |
| XM(Global network record) | 49976 | Regulated | XM ZA (PTY) LTD | 2019-09-13 | |
| FXCM(Global network record) | 46534 | Regulated | STRATOS SOUTH AFRICA (PTY) LTD | 2016-02-09 | |
| ICM(Global network record) | 53234 | Regulated | ICM CAPITAL SA (PTY) LTD | 2023-09-18 | |
| IG(Global network record) | 41393 | Regulated | IG MARKETS SOUTH AFRICA LIMITED | 13/04/2010 | |
| Tickmill(Global network record) | 49464 | Regulated | TICKMILL SOUTH AFRICA (PTY) LTD | 2019-10-09 | |
| Capex(Global network record) | 37166 | Regulated | JME Financial Services (Pty) Ltd | 2018 | |
| CBCX(Global network record) | 49700 | Registered | CBCX MARKETS (PTY) LTD | 2019-05-07 | |
| CPT Markets(Global network record) | 45954 | Regulated | CPT MARKETS (PTY) LTD | 2015-06-09 | |
| DBG Markets(Global network record) | 41920 | Registered | DBG MARKETS ZA (PTY) LTD | 2010-09-14 | |
| FP Markets(Global network record) | 50926 | Regulated | FP MARKETS (PTY) LTD | 2022-05-17 | |
| IronFX(Global network record) | 45276 | Exceeded scope | NOTESCO SA (PTY) LTD | 2014-07-15 | |
| OnEquity(Global network record) | 53187 | Regulated | ONEQUITY (PTY) LTD | 2023-12-18 | |
| STARTRADER(Global network record) | 52464 | Registered | STARTRADER INTERNATIONAL PTY LTD | 2022-09-23 | |
| TRADE.COM(Global network record) | 47857 | Suspected clone | LEADCAPITAL MARKETS LIMITED | 2019-02-05 | |
| Yellow(Global network record) | FSP 53790 | Regulated | Yellow Card Financial South Africa (Pty) Limited | 2023 | |
| Al Baraka Bank Pakistan(Global network record) | 1989/003295/06 | Regulated | ALBARAKA BANK LIMITED | 2005-11-08 | |
| ATRIAFINANCIAL(Global network record) | 36060 | Suspected clone | ATRIAFINANCIAL SA (PTY) LTD | 2008-09-09 | |
| Banxso(Global network record) | 37699 | Revoked | BANXSO (PTY) LTD | 2009-03-11 | |
| FXGM(Global network record) | 47709 | Regulated | NAXEX INVEST LTD | 2017-04-04 | |
| GMI(Global network record) | 48296 | Suspected clone | OM BRIDGE (PTY) LTD | 2017-06-06 | |
| IUX(Global network record) | 53103 | Regulated | IUX MARKETS ZA (PTY) LTD | 2023-08-18 | |
| Klips(Global network record) | 47742 | Regulated | KLIPS SA (PTY) LTD | 2017-02-07 | |
| MAKE(Global network record) | 53179 | Regulated | MAKE CAPITAL MARKET (PTY) LTD | 2023-10-17 | |
| Moneta Markets(Global network record) | 47490 | Regulated | MONETA MARKETS (PTY) LTD | 2016-11-08 | |
| SIKHULA(Global network record) | 2017/315029/07 | Regulated | SIKHULA VENTURE CAPITAL (PTY) LTD | 2017 | |
| VT Markets(Global network record) | 50865 | Regulated | VT MARKETS (PTY) LTD | 2020-09-09 | |
| WELTRADE(Global network record) | 50691 | Exceeded scope | WELTRADE SA (PTY) LTD | 2021-05-13 | |
| BROKSTOCK(Global network record) | 51404 | Exceeded scope | BROKSTOCK SA (PTY) LTD | 2021-05-13 | |
| CXM(Global network record) | 52108 | Regulated | JAROCEL PTY LTD | 08-04-2022 | |
| DNKR(Global network record) | 49288 | Regulated | DNKR ZA (Pty) Ltd | 2018-07-10 | |
| ELLAND(Global network record) | 52127 | Exceeded scope | ELLAND ROAD CAPITAL (PTY) LTD | 2022-02-10 | |
| EMAR(Global network record) | 53070 | Exceeded scope | EMAR MARKETS (PTY) LTD | 2023-08-18 | |
| IFX(Global network record) | 48021 | Exceeded scope | IFX Brokers Holdings (Pty) Ltd | 2017-06-06 | |
| KHWEZI(Global network record) | 44816 | Exceeded scope | KHWEZI FINANCIAL SERVICES(PTY)LTD | 2013-11-12 | |
| KHWEZI(Global network record) | 44816 | Exceeded scope | KHWEZI FINANCIAL SERVICES(PTY)LTD | 2013-11-12 | |
| Naqdi(Global network record) | 51598 | Suspected clone | Naqdi Group (PTY) LTD | 2021-10-06 | |
| NRDX(Global network record) | 49648 | Regulated | NRDX (PTY) LTD | 2018/10/10 | |
| RAISE(Global network record) | 50506 | Regulated | RAISE GLOBAL SA (PTY) LTD | 2020/10/06 | |
| RAZE(Global network record) | 53229 | Offshore | RAZE MARKETS SOUTH AFRICA (PTY) LTD | 2023-12-18 | |
| RED(Global network record) | 46044 | Suspected clone | RED PINE CAPITAL (PTY) LTD | 2015-12-08 | |
| ROCKETX(Global network record) | 52142 | Regulated | ROCKETX (PTY) LTD | 2023-11-05 | |
| Sharenet(Global network record) | 41688 | Regulated | Sharenet | — | |
| SOOLIKE(Global network record) | 53244 | Regulated | SOOLIKE CAPITAL MARKETS (PTY) LTD | 2024-02-22 | |
| TIBIGLOBE(Global network record) | 50012 | Exceeded scope | TIBIGLOBE (PTY) LTD | 2019-09-12 | |
| TMGM(Global network record) | 53180 | Exceeded scope | EPFX (PTY) LTD | 2023-10-17 | |
| VIDA(Global network record) | 42734 | Exceeded scope | VIDA GLOBAL MARKETS (PTY) LTD | 2011-07-12 |
FSCA (South Africa): institutional licensing & due diligence FAQ
Key statutory capital, compensation, custody segregation, and verification answers for compliance teams.
What are the primary licensing classes and minimum capital requirements under FSCA (South Africa)?
FSCA (Financial Sector Conduct Authority) supervises financial institutions in South Africa under Securities and Capital Markets Act of South Africa and FSCA Licensing, Prudential Capital Adequacy & Conduct of Business Rules. Key statutory authorisation classes include: Category 1 / Principal Broker-Dealer (Full-Scope Securities & Derivatives Dealer (Market Maker / Principal) — min. capital: USD $150,000 – $500,000 equivalent minimum paid-up capital); Category 2 / Agency Broker & Asset Manager (Securities Brokerage (Agency / STP) & Discretionary Portfolio Management Licence — min. capital: USD $75,000 – $150,000 equivalent minimum paid-up capital). Ongoing prudential supervision requires strict adherence to capital adequacy and liquidity buffers.
Does FSCA provide statutory investor compensation and mandatory client asset segregation?
Under FSCA's framework, investor protection is governed by National Investor Protection / Compensation Scheme (South Africa) with maximum coverage of Subject to statutory national investor protection fund limits and segregated trust priority (Retail clients of licensed securities and investment brokerage firms.). For client money and custody assets, supervised firms must comply with FSCA Client Money & Safe Custody Segregation Rules, performing daily reconciliation of segregated client trust bank accounts against client trading ledger balances. with client funds and securities must be held in bankruptcy-remote statutory trust accounts at licensed commercial banks or central securities depositories..
How does FSCA regulate digital assets, crypto exchanges (VASPs/CASPs), and stablecoins?
FSCA's digital-asset regime is structured around FSCA Digital Asset / Tokenized Securities & VASP Regulatory Framework (Regulates security tokens, crypto derivatives, and licensed digital asset intermediaries in South Africa.). Custody and AML/CFT compliance obligations require: FATF Recommendation 16 Travel Rule enforcement and institutional qualified custody standards.
How can I verify an institution's FSCA licence number and check our 65 recorded licence entries?
Our database currently tracks 65 licence records referencing FSCA (46 marked regulated or registered). To verify a counterparty at the primary source, open FSCA's official public register (https://www.fsca.co.za/), search by the exact reference number and legal entity name, and confirm that the firm's domain and permitted activities match its statutory authorisation.
Related regulatory & market structure briefings
Research and compliance analysis from FinLexicon Wiki relevant to FSCA and South Africa.
Statutory Law & Custody Architecture
Statutory Client Asset Segregation & Insolvency Waterfalls: Comparative Legal Architecture of FCA CASS 7, SEC Rule 15c3-3, SIPA, and EU MiFID II Custody Regimes (2026)
A definitive statutory and insolvency-law reference comparing UK FCA CASS 7 statutory trusts, US SEC Rule 15c3-3 customer reserve formulas and SIPA liquidations, EU MiFID II Article 16(8)-(10) title-transfer prohibitions, and Japanese FIEA Article 43-2 trust bank mandates.
Derivatives Margin & Prudential Regulation
ISDA 2026 SIMM Risk Weights, Uncleared Margin Rules (UMR) Thresholds & VM/IM Collateral Eligibility
ISDA Standard Initial Margin Model (SIMM) refers to a parametric, sensitivity-based methodology calibrated across a 10-day margin period of risk (MPOR) at a 99% confidence interval to calculate regulatory initial margin for non-centrally cleared over-the-counter (OTC) derivatives under BCBS-IOSCO Uncleared Margin Rules (UMR).
Prudential Regulation & Capital Standards
Expanded Risk-Based Approach (ERBA) Basel III Endgame Standard: Statutory Definition, Regulatory Scope & Compliance Deadlines (-4.8% Cat I/II CET1 Change Benchmark)
Expanded Risk-Based Approach (ERBA) Basel III Endgame Standard (BASEL-ERBA-2026) stands at -4.8% (Cat I/II CET1 Change) (Source: Federal Reserve / OCC / FDIC, 2026-10-20), governing exact rule citations, covered entities
Market Microstructure & Derivatives Taxonomy
Expanded Risk-Based Approach (ERBA) Basel III Endgame Standard: Balance-Sheet Netting Mechanics & RWA Capital Weight Calculation (-4.8% Cat I/II CET1 Change Benchmark)
Expanded Risk-Based Approach (ERBA) Basel III Endgame Standard (BASEL-ERBA-2026) stands at -4.8% (Cat I/II CET1 Change) (Source: Federal Reserve / OCC / FDIC, 2026-10-20), governing multilateral netting compression and T
Statutory licensing classes, base capital rules, and investor protection summaries for FSCA (South Africa) are maintained for institutional benchmarking and do not constitute legal advice. Always verify current rulebooks and active firm authorisations directly on FSCA’s official public register.