Forex regulation changes. In a report by the FCA late last year on the 6th of December, they had proposed several changes to Forex market regulations. The FCA was not alone in this, as several other financial regulators had similar proposals. CySEC also had some changes in mind, which was troubling coming from the most.

Forex regulation changes

Sam Seiden: An Important Rule To Consider When Scanning For Trading Opportunities In Forex

Forex regulation changes. LMAX Exchange is the first to commit to FX Global Code. The change of heart follows reassurance that Principle 17 on pre-hedging will be subject to comment after final release. 06 Apr Regulation.

Forex regulation changes


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The retail forex industry is advancing rapidly as the popularity of trading currencies and commodities online continues to boom. The general overview of regulated forex brokers and the role of internal compliance teams is evolving right alongside this growth. A number of developments in particular have emerged, pointing to more transparency within the regulatory framework itself.

During this time, CySEC has collected information from Cyprus Investment Firms CIFs and assessed these firms according to a number of factors, including their trading volume and market share. This gives CySEC a clearer overview of the structure of the industry, enabling it to better monitor the industry as a whole as well as the brokers within it. In addition, CySEC tends to assign a relationship manager to a number of its regulated investment firms in order to help with clarifying compliance guidelines, amongst other things.

Through this relationship, it is expected that investment firms and CySEC will cooperate and resolve issues amicably and transparently. This development provides greater accountability, which ultimately benefits the client as there is increased transparency within the regulated forex market.

It is important to note here that selecting a licensed and regulated broker provides clients with security and trust. Examining the overall framework shows us that the Markets in Financial Instruments Directive MiFID — which is the regulatory structure followed by all EU-based investment firms, including companies engaged in forex services — has gone through considerable reform in recent years.

These regulatory changes are seen as a positive development for the industry in general since they bring greater transparency and accountability to the market, which means more credibility for those regulated companies that are proactive in following such procedures.

Going forward, we expect the forex industry and regulators to continue to open up communications and tighten compliance systems, thereby ensuring better protection for traders and all stakeholders. The main purpose of this new reporting obligation is to fight against the offshore tax evasion, as well as provide minimum set of standards and framework in order to increase efficiency. It is a new reporting requirement for financial institutions in participating counties, including Cyprus, and aims at fighting against tax evasion and protecting the integrity of tax systems.

Since Cyprus is an early adopter with the regulation transposed into law from January of this year, all local financial institutions including regulated investment firms engaged in forex activities, are required to comply with the said requirements of the CRS. Our Quarterly Report incorporates unique data on trading volumes and traders, in-depth insights, special guest articles, regional information, regulations, updates and much more.

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Finance Magnates Newsletter Insights, breaking news, market analysis and articles delivered to your inbox daily. Bloomberg Share this article. Eleana Massoura The retail forex industry is advancing rapidly as the popularity of trading currencies and commodities online continues to boom. Looking towards MiFID II Examining the overall framework shows us that the Markets in Financial Instruments Directive MiFID — which is the regulatory structure followed by all EU-based investment firms, including companies engaged in forex services — has gone through considerable reform in recent years.

Looking towards CRS The main purpose of this new reporting obligation is to fight against the offshore tax evasion, as well as provide minimum set of standards and framework in order to increase efficiency. Got a news tip? Let Us Know Found a mistake? Notify of new replies to this comment. Expanding from an Exchange-Centric Model. What Should you be Doing? Sign up for our newsletter and get all the hottest news in your inbox daily. I would also like to receive business enhancing offers and promotions.

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