Botswana - Obtain Stockbroker License

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Procedure

Apply In-Person

1. The application for Stockbroker License shall be made to the Botswana Stock Exchange (BSE). BSE Contact & Map Location Details
2. The application shall be made in writing, using a prescribed form (BSE Form 1) and shall be accompanied by all the supporting documentation as listed on the stockbroker registration checklist , copies of the application form and checklist are obtainable at the BSE receptionist desk and are not available online.
3. Submit the completed application file to the BSE Registrar office for consideration.
4. Upon receipt of the application, the Registrar will check for discrepancies or ineligibility in the application documents. If a discrepancy that cannot be immediately corrected which exists in any of the documents, the application and all the submitted documents will be returned to the applicant and should not be re-submitted until the discrepancy has been rectified/corrected.
5. If the registrar is satisfied that all the requirements have been met for the application, he/she will register the application and advise the applicant to pay the applicable fee.
6. Pay the applicable fees as per the Authority’s preferable mode of payment, and present the proof of payment to be verified by the registrar, the applicant will be issued with a payment receipt and an acknowledgment slip as a proof of submission of the application and for inquiry referencing if the need arises.
7. The application file is then forwarded to the BSE committee for assessment and consideration.
8. After the successful screening of the submitted documents, the committee shall forward its recommendation regarding the application to the registrar.
9. Notice of the decision (Approval, Deferral, or Rejection) for the application will be communicated to the client in writing or phone.
10. If approved, the registrar shall register the applicant as a broker with the BSE and drawn up the stockbroker license for withdrawal by the applicant.
11. While collecting the license, the applicant will be required to produce their identification document and the BSE acknowledgment slip/ approval letter to be validated by the registrar office and pay a prescribed license fee.
    

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Required Documents

• Valid applicable identification document.
• BSE stockbroker registration checklist.
  

Office Locations & Contacts

Botswana Stock Exchange (BSE)
Address: 4th Floor | Fairscape Precinct |Plot 70667Fairgrounds,
Gaborone
Botswana
Telephone: +267 367 4400
Fax: +267 318 0175
Private Bag 00417
Email: [email protected]/ [email protected]
BSE Contact & Map Location Details
BSE Website

Eligibility

Persons of 25 years and above who wishes to carry on business as a stockbroker in Botswana are eligible to apply.

Fees

Please consult with the Botswana Stock Exchange (BSE) office.

Validity

• The validity of the license will be mentioned on the certificate and shall remain valid for that period of time unless suspended, cancelled, or revoked by the authority.
• The license should be renewed at least thirty days before it expires.
  

Documents to Use

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Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

Please explain processing time taken in obtaining the document/certificate.

Related Videos

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

Please provide other instructions related to the certificate/documents.
E.g. The state office holds birth records since January 1908.

Required Information

• Name of company.
• Registered office.
• Date of incorporation.
• Location, address and telephone number of principal office.
• Location, address and telephone number of branch offices.
• Details of capital structure.
• Directors Details.
• Particulars of other directorship(s) of the directors and secretary.
• Particulars of shares held by directors or secretary in other companies.
• Business references.
• Profile of the chief executive and key employees in the applicant company.
• List the office facilities of the applicant.
• Declaration by the applicant.
  

Need for the Document

The Stockbroker License is a document that authorizes the holder to engage in business of buying or selling of securities as an agent for investors in return for a commission.

Information which might help

The Authority may suspend or revoke a license, for such period or until the occurrence of such event as the Authority may specify if a licensed person:

• Goes into liquidation or an order is issued for the winding up of the licensed person;
• Carries out any activity outside the scope of the licensed or approved activities;
• Has a receiver or a manager appointed on all or a substantial part of the property of the company;
• Ceases to carry on the licensed business for a period of more than thirty days unless it has obtained the approval of the Authority to do so;
• Any of its directors or key employees has not, in the opinion of the Authority, performed their duties honestly and fairly;
• Has contravened or failed to comply with any condition applicable in respect of the license;
• Fails to comply with a direction of the Authority;
• Fails to provide the Authority with such information as it may require;
• Provides false or misleading information;
• For any other reason, is no longer fit and proper person to hold a license; or
• Is in breach of any other provision under the Botswana Stock Exchange Act.
  

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
E.g. Birth Certificate can be used as proof of identity.

External Links

Botswana Stock Exchange (BSE)

Others

More information which might help people.