Over-The-Counter Derivatives Licenses: Explore new opportunities with Couzyn Hertzog and Horak Attorneys

Expert Legal Compliance in the Financial Services Sector: Couzyn Hertzog and Horak Attorneys
June 24, 2024
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Couzyn Hertzog and Horak Attorneys stands ready to assist Forex brokerages and niche providers of bespoke financial products in navigating the evolving derivatives market landscape.

Prospective Over the Counter Derivative Providers (ODPs) must adhere to stringent licensing and regulatory frameworks set forth by the Financial Sector Conduct Authority (FSCA) and the Prudential Authority (PA). ODPs, while not classified as accountable institutions under FICA, fall under FSCA regulation according to the FMA Regulations.

Trust our expertise to navigate these regulatory landscapes effectively, ensuring your business meets all necessary requirements for success in the derivatives market.

Our field of expertise include the following to assist prospective and existing ODP providers:

  • New OTC licence applications to the FSCA;
  • Develop and manage OTC frameworks, Anti Money Laundering (AML) and Counter-terrorist Financing (CFT) measures, reporting duties to Financial Sector Conduct Authority (FSCA);
  • Non-compliance directives, administrative penalties and remedial measures by FSCA;
  • Advice and assistance with Standardised Contracts via Central Counterparties (CCPs) (not yet enacted into law);
  • Directives by FSCA and the PA regarding OTC frameworks subject to the Financial Markets Act, Financial Sector Regulation Act, Financial Advisory and Intermediary Services Act (FAIS), FIC Act, the Financial Sector Regulation Act: Joint Standards for margin requirements, PASA Act and Financial Markets Act Conduct Standard 2 of 2018;

For more information, contact Marc de Bruyn at marcdb@couzyn.co.za. Visit our website at www.couzyn.co.za.

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