ESMA identified the need for regulators to significantly improve their supervision relating to cross-border activities to retail clients.
EU license passport
The rule of course applies not only to Cyprus FX and CFD brokers, but those licensed in any other EU country.
The TPR application window was reopened on September 30, with EU licensed firms having until December 30 to apply.
The FCA expects a firm seeking authorisation to have an active place of business in the UK to effectively supervise its UK activities.
CNMV is looking at the practices of many licensed foreign FX and CFD brokers offering services to Spanish traders.
The FCA banned 24option and TradeATF from the UK in a first-of-its-kind move against passporting brokers.
A number of Retail FX brokers which hold one of the two licenses are currently scrambling to acquire the other before the transition period ends.
In a first-ever-of-its-kind move, UK financial regulator The FCA has removed the “passporting” rights of a number of Cyprus based, […]