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REGISTRATION OF A SUB-BROKERAGE COMPANY
Description
BMG has 10 years of experience in providing services for the creation, registration, license for sub-brokerage activities, securities trading activities in Ukraine. BMG has successfully implemented more than 1000 projects, opened more than 100 financial institutions and received more than 300 licenses for financial activities, incl. license for sub-brokerage.
BMG sub-brokerage activity company registration services:
- Sub-brokerage activity company registration period: 1-2 months
- License for sub-brokerage period for sub-brokerage activities: 1-3 months
- Type of service: registration of a turnkey sub-broker activity company
- Guarantee: we guarantee the registration of a sub-broker activity
- Payment method: by agreement
- Sub-broker activity company registration cost: request a cost
- Experience since 2008
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Sub-brokerage activity
Sub-brokerage activity is the activity of an investment firm in accepting orders from clients for the conclusion of derivative contracts and transactions with financial instruments at the expense of clients and providing the corresponding orders for execution by another investment firm that carries out brokerage activities.
Registration of sub-brokerage activities
In order to create, register a sub-broker activity company, a securities trader, it is necessary to go through the main stages:
- Registration of a legal entity
- Adjustment to investment firm standards
- Obtaining approval for membership in SRO – a self-regulatory organization in the securities market
- Obtaining a license for sub-brokerage activities
- Membership in a self-regulatory organization (SRO)
- Entry in the register of financial companies
- Registration with the financial monitoring service
License for sub-brokerage activity
Sub-broker activity in the stock market is carried out solely on the basis of a License for sub-brokerage issued by the National Securities and Stock Market Commission.
Obtaining a license for sub-brokerage activity is a complex procedure and requires the fulfillment of a number of licensing conditions.
Conditions for obtaining a License for sub-brokerage activity:
- Sub-broker SRO membership
- Authorized capital of a sub-broker
- Sub-broker’s premises
- Certification of sub-broker employees
- Sub-broker manager
- Sub-broker’s chief accountant
- The financial condition of the owner of the sub-broker
- Business reputation of the sub-broker
Membership in a self-regulatory organization (SRO) of a Sub-broker
One of the conditions for obtaining a License for sub-brokerage activity is membership in at least one association of professional participants in the securities market and / or a self-regulatory organization that unites professional participants in the securities market in the relevant type of professional activity and inclusion of the sub-brokerage company in the state register of financial institutions that provide financial services in the securities market.
Authorized capital of the Subbroker
A securities trader can obtain a License for sub-brokerage activity, subject to the paid-in authorized capital:
- The size of the initial capital of an investment company that carries out professional activities in trading financial instruments, namely, sub-brokerage activities, cannot be less than UAH 1.5 million.
Also, obtaining a License for sub-brokerage activity requires the following requirements:
- The share of the authorized capital of a sub-broker owned by another securities trader cannot exceed 10 percent
- The share of a sub-broker together with related parties in the authorized capital of the Central Securities Depository cannot be more than 5 percent
- The share of a sub-broker in the authorized capital of a depository institution cannot be more than 5 percent
Sub-broker's office
The total area of the premises of a sub-broker, its separate subdivision must be at least 20 square meters. m.
In case of organizing sub-brokerage activities as part of specialized structural divisions that are an integral part of its internal organizational structure and have a different location, the area of the premises for each such division must be at least 10 square meters. m.
Certified employees of the Subbroker
The condition for obtaining a License for sub-brokerage activity is to have certified specialists already at the time of the procedure for licensing sub-brokerage activities.
For a sub-broker, upon obtaining a License for sub-brokerage activity, the qualification requirements are as follows:
- At least three certified specialists (including senior officials) and two certified specialists (including senior officials) for a separate unit carrying out any of these activities.
Head of Subbroker
The head of the Sub-broker (its separate and/or specialized structural divisions) when carrying out sub-broker activities cannot simultaneously work in other professional participants of the stock market.
The head of the Sub-Broker (other than a bank) must have at least three years of experience in the stock market, including at least one year of experience as a senior official in the stock market.
Chief Accountant of the Subbroker
The chief accountant of the Subbroker must meet the following professional requirements:
- Have a complete higher education (specialist, master)
- Have a document on advanced training by training according to the standard program of professional training of accountants for professional participants in the stock market, approved by the decision of the National Commission on Securities and Stock Market, and attestation in the manner determined by the Regulations on the Procedure for Training and Attestation of Specialists on Stock Market Issues. In the absence of such a document, within three months after being hired for the position of chief accountant, undergo advanced training. Attend this refresher course at least once every three years
- Not to have an outstanding or unexpunged conviction for crimes against property, in the field of economic and official activities, and also not to be deprived of the right to hold certain positions and engage in certain activities
- Have at least two years of work experience as an accountant or chief accountant in a financial institution or at least five years in any other institution
Financial condition of the owner of the Subbroker
A sub-broker and its owners with substantial participation must meet the following requirements.
The financial (property) condition of an individual direct owner with a significant participation in a securities trader must meet the requirements for the availability of own funds in an amount greater than the amount of funds contributed to the applicant's authorized capital.
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REGULATORY ACTS REGULATING ACTIVITIES
Regulatory framework
01. Law of Ukraine on Capital Markets and Organized Commodity Markets
02. Licensing conditions for professional activities in the capital market
03. Rules (conditions) for carrying out securities trading activities: brokerage, dealership, underwriting, securities management
SECURITIES TRADER REGISTRATION PROCEDURE
Stages of creating a securities trader
01. Company registration
Preparation of statutory documents, coordination of the position of director, registration of a legal entity
02. Reduction to standards
Formation of authorized capital, staff training, audit, development of rules and regulations
03. Participation in SRO
Preparation of a package of documents for participation in the SRO, receiving recommendations from other participants, participation in the SRO
04. Obtaining a license
Development of rules, audit, preparation of documents for the license, issuance of a license to trade in securities
WHAT CONDITIONS MUST BE FULFILLED
Requirements for the establishment of a securities trader
ORGANIZATIONAL AND LEGAL REQUIREMENTS
THE AMOUNT OF THE AUTHORIZED CAPITAL
- The amount of initial capital of an investment company engaged in professional activities in securities trading (trading in financial instruments), namely sub-brokerage, brokerage, financial instrument portfolio management activities, investment advice, and / or placement activities without a guarantee, provided that such an investment firm shall not have the right to receive and dispose of clients’ funds and financial instruments, must meet the requirements of its size and calculation procedure established by the National Securities and Stock Market Commission, and may not be less than UAH 1.5 million.
- The amount of initial capital of an investment company engaged in professional activities in securities trading (trading in financial instruments), namely sub-brokerage, brokerage and / or financial instrument portfolio management activities, provided that such investment firm has the right to receive and dispose of funds and financial instruments of clients, must meet the requirements of its size and the procedure for its calculation, established by the National Commission on Securities and Stock Market, and may not be less than 4 million hryvnias.
- The initial capital of the investment company, in all other cases, namely the implementation of professional activities in underwriting, dealership, must meet the requirements of its calculation, and the amount of such initial capital may not be less than 22 million hryvnias.
OFFICE REQUIREMENTS
The total area of the securities trader’s premises (except for the bank) and its separate subdivision must be at least 20 sq.m.
PARTICIPATION IN SRO
REQUIREMENTS FOR STAFF
- At least three certified specialists (including senior officials) and two certified professionals (including senior officials) – for a separate unit that conducts any of these activities.
For a securities trader (except for a bank) when obtaining a license to trade in securities (license for sub-brokerage) to conduct several types of professional activities in securities trading at the same time, the qualification requirements are as follows:
- At least four certified specialists (including senior officials) and three certified professionals (including senior officials) – for a separate unit that conducts these activities.
REQUIREMENTS FOR THE HEAD
REQUIREMENTS FOR THE CHIEF ACCOUNTANT
- Have a complete higher education (specialist, master)
- Have a document on professional development by training in a standard program of professional training of accountants of professional stock market participants, approved by the National Commission on Securities and Stock Market, and certification in the manner prescribed by the Regulations on training and certification of stock market specialists. In the absence of such a document within three months after hiring as chief accountant to undergo training. To pass this advanced training at least once in three years
- Not to have an outstanding or unresolved criminal record for crimes against property, in the field of economic and official activities, as well as not to be deprived of the right to hold certain positions and engage in certain activities
- Have at least two years of experience as an accountant or chief accountant in a financial institution or at least five years in any other institution
WHAT YOU NEED TO GET STARTED
- Data on founders and final beneficiaries.
- Data on the Premises (physical address where the company will be located).
- Data on the Head, Chief Accountant, Responsible for financial monitoring (may be the person of the Director / Chief Accountant): copy of passport and identification, diploma, employment record book.
- Data on staff.
- The planned name of the Company.
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WHY CHOOSE US?
About Us
We know that the result is important for you, not the process. More than 10 years of work in the market, more than 1000 successfully implemented projects, we know how to get the desired result on time
Experience
More than 10 years of experience, more than 1000 successful projects throughout Ukraine
Professionalism
We have practitioners with over 5 years of experience.
Warranty
We guarantee the implementation of a particular project in the contract
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