Licensing and Registration registers managers of local Collective Investment Schemes after being satisfied that they meet the fit and proper requirements and conditions for registration, supervise such schemes on an on-going basis to ensure that they comply with the duties imposed by the Act at all times and take the necessary regulatory action against those who do not comply, which include unregistered entities or persons.
Licensing and Registration is also responsible for the approval of foreign collective investment schemes and portfolios should it comply with the conditions in terms of which foreign collective investment schemes may solicit investments in the Republic.
Registration is responsible for:
- applications for new managers of collective investment schemes in securities, hedge funds, property and participation bonds;
- additional collective investment schemes in securities, hedge funds, property and participation bonds
- additional portfolios of collective investment schemes in securities, hedge funds, property and participation bonds
- the approval of foreign collective investment schemes for marketing in South Africa, categorized as a collective investment scheme in security or a hedge fund
- additional sub-funds for foreign collective investment schemes
- amendments to local and foreign collective investment schemes/portfolios
- change in shareholding of local managers
- approval of directors of local managers
- amalgamations of local collective investment schemes and portfolios
- terminations of local collective investment schemes and/or portfolios