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Financial Products Apply knowledge of the financial products and services environment
Which licence category applies to an administrative FSP (for example, a LISP that administers investments across multiple product suppliers)?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) Category IIA (hedge fund).
- b) Category IV (assistance business).
- c) Category III (administrative FSP).Correct
- d) Category I (advice/intermediary).
Why this is the answer
An administrative FSP / LISP that administers investments on behalf of clients across product suppliers operates under a Category III licence. Category IV deals with assistance business (e.g. certain funeral schemes).
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