FINTECH Licenses

The RFSA is authorized to issue licenses for various FINTECH activities under the authority of the Próspera FinTech Regulation A. The objectives of this Próspera FinTech Regulation A are:

(1) To generate trust in relation to financial technology entities, the products, and services they offer and the operation of the financial system as a whole;

(2) To prevent unfair practices;

(3) To protect the user of financial technology services;

(4) To promote innovation;

(5) To foster financial inclusion; and

(6) To reduce the risk of money laundering and terrorist financing operations.

Covered Regulated Industry Persons may only provide the following services if they are enrolled in the Financial Technology Service Providers Registry, maintained by the GSP through the RFSA:

  1. Crowdfunding Platform (Chapter 1, Section 3 (q))

the physical or virtual place through which those who have investment projects or financing needs: (1) disseminate, communicate, offer, or promote those projects or needs, or the characteristics thereof; or (2) contact, or obtain contact information from, those who have the resources available or the intention to participate in, or satisfy, those projects or needs.

  • Alternative Transaction System (Chapter 1, Section 3 (bb))

the physical or virtual place that allows its participants to quote, offer, or trade financial instruments or publicly traded securities.

  • Brokerage of Financial Instruments (Chapter 1, Section 3 (n))

the facility, agency, or act of buying or selling financial instruments for third parties, in any of the following ways: (1) by acquiring or disposing of financial instruments for itself, with the prior intention of selling or buying those same instruments to or from the third party; or (2) by acquiring or selling financial instruments on behalf of or for such third party.

  • Order Routing (Chapter 1, Section 3 (j))

to receive and route orders from third parties for the purchase or sale of financial instruments to alternative transaction systems, securities intermediaries, or commodity exchange brokers.

  • Credit Advisory (Chapter 1, Section 3 (f))

a person, facility or agency that provides assessments or recommendations to third parties regarding the capacity or probability of payment of persons or entities, or their identity, for the purpose of obtaining loans or financing.

  • Investment Advisory (Chapter 1, Section 3 (g))

a person, facility or agency that provides assessments or recommendations to third parties regarding the advisability of making certain investments or transactions in financial instruments or investment projects.

  • Custody of Financial Instruments (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.

FinTech Licensing Application Forms:

A-3 RFSA Fintech Reg A Application

A-4 RFSA Fintech Reg A Standard Deferral Application

A-5 RFSA Fintech Reg A Waiver-Exemption Petition