EU / UK / Australia — the basis on which we offer services to clients resident outside South Africa, and the regulatory implications for such clients.
This Cross-Border Services Disclosure explains the basis on which Makeba Markets (Pty) Ltd (FSP 53160), a Category I Financial Services Provider licensed in South Africa, offers its services to clients resident outside South Africa, including in the European Union, the United Kingdom, and Australia, and the regulatory implications for such clients.
The Company is authorised and regulated by the Financial Sector Conduct Authority of South Africa. The Company is not licensed or authorised by the European Securities and Markets Authority, any EU national competent authority, the UK Financial Conduct Authority, or the Australian Securities and Investments Commission, save as may be separately disclosed. Services are offered to clients in these jurisdictions in reliance on applicable exemptions, reverse solicitation principles, or other lawful cross-border arrangements, as assessed and maintained by the Company's compliance function.
Clients resident in the European Union are serviced under the Company's South African FSCA licence. Such clients should be aware that the Company is not subject to EU-wide retail investor protections such as those under MiFID II, and that certain EU-specific safeguards (including ESMA leverage limits, negative balance protection mandates, and investor compensation schemes) may not automatically apply, save to the extent voluntarily adopted by the Company or otherwise required.
Clients resident in the United Kingdom are serviced under the Company's South African FSCA licence. The Company is not authorised by the UK Financial Conduct Authority. UK clients should note that protections available under the UK regulatory framework, including access to the Financial Ombudsman Service and the Financial Services Compensation Scheme, do not apply to services provided by the Company.
Clients resident in Australia are serviced under the Company's South African FSCA licence. The Company is not licensed by the Australian Securities and Investments Commission. Australian clients should note that protections under the Australian regulatory framework, including access to the Australian Financial Complaints Authority, do not apply to services provided by the Company.
Regardless of country of residence, clients of the Company have recourse to the FAIS Ombud in South Africa in respect of complaints concerning the Company's conduct, in accordance with our Complaints Handling Policy. Clients may also have access to consumer protection or dispute resolution mechanisms available generally in their home jurisdiction, independent of the Company's regulatory status there.
By opening an Account, a client resident outside South Africa acknowledges that they have read this Disclosure, understand that the Company is regulated in South Africa and not in their country of residence, and accept the consequent differences in regulatory protection.
This Disclosure is reviewed periodically and updated to reflect changes in the Company's cross-border permissions, licensing status, or Applicable Regulations in the relevant jurisdictions.