CHAPTER 29 / 55 · Paid
FS-5.1 SRO.
Recognition or declaration under Financial Services Act section 33. Fees are determined case by case.
Approx. 12 min with exercisesLaw cut-off: 20 September 2026Our approach
By the end of this chapter
- Describe the shop in one paragraph from the first file on the desk.
- Decide the promoter’s next asks: which stay on this letter, which need another paper.
- Keep neighbouring permissions off this desk.
- Cite the enabling section and treat the licence letter as the book.
FSC · FS-5.1 · Declaration or recognition
1. A professional association seeking SRO status’s shop
A professional association seeking SRO status is the desk this chapter is for. Declaration or recognition of a self-regulatory organisation.
The first file on the desk is this. A body of intermediaries wants the Commission to recognise it as an SRO for conduct rules. FS-5.1 / FSA section 33, with fees agreed in the case.
Three facts have to stay true of that book. First, the letter is the activity specified. This is a declaration or recognition under Financial Services Act 2007, Section 33. A company name is not a permission.
Second, neighbouring papers stay off this desk. Not a securities exchange licence (SEC-1.1) and not a management licence.
Third, the assumptions stay in the file. Fictional association. Cut-off 20 September 2026.
Financial Services Act 2007, Section 33. See the register note · Open the published text ↗.
2. A week with A professional association seeking SRO status
Monday. The promoter walks in with “A professional association seeking SRO status.” Write the facts before anyone names a code: A body of intermediaries wants the Commission to recognise it as an SRO for conduct rules.
Tuesday. The team writes the activity in the words of the licence letter, not the brass plate. Declaration or recognition of a self-regulatory organisation.
Wednesday. They record what this permission is used for. FS-5.1 / FSA section 33, with fees agreed in the case.
Thursday. They write what the letter does not cover. Recognition is not an exchange licence and not a dealer licence for members.
Friday. They lock the assumptions. Fictional association. Cut-off 20 September 2026. The file is ready for the application, not for a slogan on a slide.
The other files on this desk should look like that first one: a named person, a specified activity, and a letter that matches the work. That is what FS-5.1 is used for. The Act matters when A professional association seeking SRO status applies, when the Commission writes conditions onto the letter, and when the same promoter telephones with a different idea.
3. What the same promoter asks next
The facts are fictional. The method is the course: keep the shop you have just watched, and ask which desk is now doing the work.
This licence
A professional association seeking SRO status
A body of intermediaries wants the Commission to recognise it as an SRO for conduct rules.
Why it fits. FS-5.1 / FSA section 33, with fees agreed in the case.
Different paper
The same promoter asks for securities exchange licence (SEC-1.1)
The slide says the FS-5.1 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Recognition is not an exchange licence and not a dealer licence for members.
Different paper
The same promoter asks for management licence
The slide says the FS-5.1 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Recognition is not an exchange licence and not a dealer licence for members.
| The promoter asks A professional association seeking SRO status to… | This licence? | Why |
|---|---|---|
| A professional association seeking SRO status | Yes | FS-5.1 / FSA section 33, with fees agreed in the case. |
| The same promoter asks for securities exchange licence (SEC-1.1) | No | Keep the neighbouring paper off this desk. Recognition is not an exchange licence and not a dealer licence for members. |
| The same promoter asks for management licence | No | Keep the neighbouring paper off this desk. Recognition is not an exchange licence and not a dealer licence for members. |
4. Papers that sit beside this one
Not a securities exchange licence (SEC-1.1) and not a management licence. Name the other desk when the work changes: a securities exchange licence (SEC-1.1); a management licence.
- a securities exchange licence (SEC-1.1)
- a management licence
Neighbouring codes have their own chapters. Do not import their books into this letter.
5. The letter and the file
A body capable of exercising self-regulatory functions as section 33 contemplates. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. Fees as at 1 July 2026: Processing and annual fees to be determined by the Commission in each case. Status at cut-off: Published SRO category as at 1 July 2026.
Who may hold it. A body capable of exercising self-regulatory functions as section 33 contemplates. Case-by-case fees are a directory fact.
Published criteria. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. FS-5.1 criteria. Governance, membership rules and enforcement capacity belong in the file.
Rules, codes and circulars. CL20260107 does not invent a tariff where the schedule says “to be determined”.
6. How to cite FS-5.1
| Coordinate | As at 20 September 2026 |
|---|---|
| Directory code | FS-5.1 SRO |
| Legal nature | Declaration or recognition |
| Enabling law | Financial Services Act 2007 · Section 33 |
| Fees as at 1 July 2026 | Processing and annual fees to be determined by the Commission in each case. No rupee or USD pair is printed on the 1 July 2026 row. |
| Status at cut-off | Published SRO category as at 1 July 2026. |
The structured library card keeps the same coordinates for search. Open FS-5.1 in the reference library.
FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Register noteFinancial Services Act 2007 ↗Register noteFSC licensing and fees amendment rules 2026 ↗Register noteFSC Circular Letter CL20260107 — review of fees and renewal of licences ↗Register noteFSC rules and regulations directory ↗Register noteSecurities Act 2005 ↗Register note
PAUSE & REFLECT
Check your understanding.
Three questions to make the ideas stick. Your score is saved on this browser; this is a learning exercise, not a qualification.
Follow the sources.
Each title opens the published text. The register note records the edition used for this course.
- FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗ All published category codes, fees, forms and licensing-criteria columns; consolidation as at 1 July 2026 · Register note
- Financial Services Act 2007 ↗ Sections 2, 14, 14A, 16–18, 25, 33, 71A, 72, 77, 77A, 77B, 77C, 78, 79A; Second Schedule Parts I–III; Fifth Schedule · Register note
- FSC licensing and fees amendment rules 2026 ↗ Rule 3 and replacement First Schedule; rule 4 commencement · Register note
- FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗ 1 July 2026 fee review; annual-fee due date 30 September 2026; FSCOne alternative arrangements · Register note
- FSC rules and regulations directory ↗ Consolidated licensing and fees rules; sector-specific rules including Securities (Licensing) Rules and Family Office Rules · Register note
- Securities Act 2005 ↗ Sections 9–11, 29–30, 53, 86, 97–101, 155(2)(xc) · Register note
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