Financial Services Provider (FSP)

A Financial Services Provider (FSP) is any person who, as a regular feature of their business, furnishes advice or renders an intermediary service to clients in respect of financial products. To operate legally, an FSP must hold a licence issued by the FSCA.

Each FSP must appoint at least one key individual to manage and oversee the financial services rendered, and is responsible for the conduct of its representatives. The FSP carries the regulatory obligations for record-keeping, complaints handling, conflict-of-interest management and compliance.

There are different categories of FSP licence (Category I to IV) depending on the type of services provided, ranging from giving advice to managing investments on a discretionary basis.