The financial business
activities, as listed in the Second Schedule of the Financial Services Act are:
This list is not exhaustive and the
FSC Rules may provide for other financial business activities.
The FSC ensures, prior to licensing
any Non-Banking Financial Institution (NBFI), that the applicant
meets the "fit and proper" criteria and fulfils certain prudential
requirements and conditions of operations. Applicants are
required to apply rules of corporate governance and adopt clear
measures to prevent conflict of interest and to prevent financial
crimes and money laundering.
The FSC ensures inter alia
that applicants have in place the necessary compliance functions,
appropriate internal control measures and continuous internal audit
and monitoring system, it has adequate resources in terms of
qualified personnel and equipment.
Applying for a licence - Other
Register of Licensees