Custody of Financial Instruments

Fintech Regulation A ((Chapter 1, Section 3 (i))

The condition or action of holding financial instruments in one’s own name on behalf of third parties, or to hold money or currency on behalf of third parties derived from the flows or disposal thereof or delivered for the acquisition thereof or to guarantee transactions with such instruments.

Application Fee: $2,500.00

The application fee is reduced to $1,500.00 if applying in conjunction with other FINTECH Licenses.

Applicable Rules:

FinTech Licensing Application Forms:

Requirements:

(1) That it has the systems and procedures necessary to comply with the information obligations
established by Section 4 of this Chapter;

(2) That it has the corporate governance and risk management required by Section 8 of this Chapter;

(3) That it has the operational capacity to support the processing of the operations performed through its systems or infrastructure;

(4) That it has the guarantees required by Section 6 of this Chapter; and

(5) That it has the equity required by Section 7 of this Chapter.