Implementation Of Licence Fees, Renewal Of Licence Fees And Annual Sustaining Fees
Reference is made to the Statutory Instruments No. 48 and 49 which were published on the Government Gazette dated 27 March 2020.
The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) has, with the approval of the Ministry of Finance and Economic Development (MFED), amended the Securities (Persons Operating a Securities Infrastructure Business) Regulations and the Securities (Institutions Licensing) Regulations to provide for the payment of licensing fees and annual sustaining fees as outlined in Schedule 5 and Schedule 6 of the above mentioned Regulations respectively,
SCHEDULE 5
LICENSING FEES
(reg 4(5))
|
Non-Bank Financial Institution |
Licence Application Fee |
Licence Renewal Fee |
Annual Sustaining Fee |
Late Renewal Fee |
|
Asset Manager |
P12 000 |
P7 200 |
P6 000 |
P350 per day up to 90 days |
|
Central Securities Depositories |
P96 000 |
P57 600 |
P48 000 |
P350 per day up to 90 days |
|
Securities Exchanges |
P100 000 |
P60 000 |
P50 000 |
P350 per day up to 90 days |
|
Securities Brokers/Dealers |
P50 000 |
P30 000 |
P25 000 |
P350 per day up to 90 days |
|
Transfer Agents/Transfer Secretaries |
P10 000 |
P6 000 |
P5 000 |
P350 per day up to 90 days |
|
Central Counter Party |
P100 000 |
P60 000 |
P50 000 |
P350 per day up to 90 days |
|
Participant/Market Maker |
P10 000 |
P6 000 |
P5 000 |
P350 per day up to 90 days |
|
Custodian |
P12 000 |
P7 200 |
P6 000 |
P350 per day up to 90 days |
|
Investment Advisor |
P8 000 |
P4 800 |
4 000 |
P350 per day up to 90 days |
|
Controller |
P250 |
|||
|
Key Person |
P250 | |||
SCHEDULE 6
LICENSING FEES
(reg 4(5), reg 7(4), reg 8(2), reg 10(2), reg 12(1) and (3))
|
Non-Bank Financial Institution |
Licence Application Fee |
Licence Renewal Fee |
Annual Sustaining Fee |
Late Renewal Fee |
|
Central Securities Depositories |
P96 000 |
P57 600 |
P48 000 |
P350 per day up to 90 days |
|
Securities Exchanges |
P100 000 |
P60 000 |
P50 000 |
P350 per day up to 90 days |
|
Central Counter Party |
P100 000 |
P60 000 |
P50 000 |
P350 per day up to 90 days |
|
Clearance and Settlement System other than a Central Securities Depository |
P96 000 |
P57 600 |
P48 000 |
P350 per day up to 90 days |
|
Controller |
P250 |
|||
|
Key Person |
P250 |
|||
For further clarification on the above fees, please refer to the Regulations posted on the NBFIRA website or contact Ms K.M. Ntebang at kntebang@nbfira.org.bw and / or Mr Mbiganyi Modise at mmodise@nbfira.org.bw.
Yours sincerely
_______________
Juliana White (Ms)
DIRECTOR - CAPITAL MARKETS
