Licensing process for portfolio managers and trustees
The process for SFMA to license portfolio managers and trustees comprises the following steps: self-registration, preparing the application, transmitting the application to a supervisory organisation, and transmitting the application to SFMA together with the confirmation from the supervisory organisation.
This SFMA page gives applicants and supervised institutions a practical view of the licensing process for portfolio managers and trustees topic. It explains when a licence, approval, notification or registration may be needed, what information should be prepared, and which changes may require contact with the authority.
Step 1: Self-registration on the EHP
The review focuses on whether the applicant is organised in a way that is suitable for licensing process for portfolio managers and trustees within the Portfolio managers and trustees area. SFMA will normally look at governance, financial resources, responsible persons, risk controls, compliance arrangements, auditability, outsourcing and whether the planned activity can be carried out without creating avoidable risks for clients, investors, policyholders or market integrity.
'Self-registration' explanatory video
The review focuses on whether the applicant is organised in a way that is suitable for licensing process for portfolio managers and trustees within the Portfolio managers and trustees area. SFMA will normally look at governance, financial resources, responsible persons, risk controls, compliance arrangements, auditability, outsourcing and whether the planned activity can be carried out without creating avoidable risks for clients, investors, policyholders or market integrity.
Step 2: Preparing application
Applications should be submitted with the current forms, declarations and supporting documents required for the activity. A complete file usually shortens the review because the authority can assess the business model, responsible persons, financial position, internal rules and legal basis without repeated follow-up questions.
Licence application explanatory video part 1 – Preparing the application
Applications should be submitted with the current forms, declarations and supporting documents required for the activity. A complete file usually shortens the review because the authority can assess the business model, responsible persons, financial position, internal rules and legal basis without repeated follow-up questions.
Licence application explanatory video part 2 – Completing the application
Applications should be submitted with the current forms, declarations and supporting documents required for the activity. A complete file usually shortens the review because the authority can assess the business model, responsible persons, financial position, internal rules and legal basis without repeated follow-up questions.
Step 3: Transmitting the licence application to a supervisory organisation
Applications should be submitted with the current forms, declarations and supporting documents required for the activity. A complete file usually shortens the review because the authority can assess the business model, responsible persons, financial position, internal rules and legal basis without repeated follow-up questions.
Licence application explanatory video part 3 – Assigning and submitting the application
Applications should be submitted with the current forms, declarations and supporting documents required for the activity. A complete file usually shortens the review because the authority can assess the business model, responsible persons, financial position, internal rules and legal basis without repeated follow-up questions.
Step 4: Checking of the licence application and confirmation from the SO
Applications should be submitted with the current forms, declarations and supporting documents required for the activity. A complete file usually shortens the review because the authority can assess the business model, responsible persons, financial position, internal rules and legal basis without repeated follow-up questions.
Step 5: Transmitting the application and SO confirmation to SFMA
Applications should be submitted with the current forms, declarations and supporting documents required for the activity. A complete file usually shortens the review because the authority can assess the business model, responsible persons, financial position, internal rules and legal basis without repeated follow-up questions.
Latest information
Applications should be submitted with the current forms, declarations and supporting documents required for the activity. A complete file usually shortens the review because the authority can assess the business model, responsible persons, financial position, internal rules and legal basis without repeated follow-up questions.
Preparing a complete file
Applicants should keep the submission concise but complete: describe the activity, legal structure, people responsible, control framework, financial resources, relevant documents and any cross-border elements. Where uncertainty remains, the issue should be highlighted early rather than left to emerge during review.