fxnet homepage : bit.ly/13s3FM1 Regulation matters! At FxNet we believe that one of the most important criteria for clients when choosing a Forex Broker is their regulatory status and under which laws such regulation is under! As such at FxNet, we have taken the measures to acquire the below EU regulatory status and licenses as well as memberships of the below competent authorities as well as professional and governmental bodies: Regulators: CySEC (Cyprus Securities and Exchange Commission) The Cyprus Securities and Exchange Commission better known as CySEC, is the financial regulatory agency of the Republic of Cyprus. Since Cyprus became a member of the European Union in 2004, CySEC has become part of European MiFID regulation, giving firms registered in Cyprus access to all European markets.FxNet Ltd is licensed and regulated under CySEC with license number 182/12 and is able to freely provide investment and ancillary services for a number of financial instruments. The CySEC is responsible for the supervision and control of the Cyprus Stock Exchange, Licensed Investment Services companies, collective investment schemes, investment consultants and mutual fund management companies. It is the body which grants operational licences to investment firms, brokerage firms and brokers. Licenses: As a regulated company within the EU, FxNet has also been able to acquire a number of licenses, through the EU Cross Border services, for numerous EEA member states as follows: United Kingdom – FSA (Financial Services Authority) The Financial Services Authority (FSA) is a quasi-judicial body responsible for the regulation of the financial services industry in the United Kingdom. Its board is appointed by the Treasury, although it operates independently of government. It is structured as a company limited by guarantee and is funded entirely by fees charged to the financial services industry. Germany – BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht) The Federal Financial Supervisory Authority (German: Bundesanstalt für Finanzdienstleistungsaufsicht) better known by its abbreviation BaFin is the financial regulatory authority for Germany. It is an independent federal institution with headquarters in Bonn and Frankfurt and falls under the supervision of the Federal Ministry of Finance (Germany). BaFin supervises about 2,700 banks, 800 financial services institutions and over 700 insurance undertakings. France – ACP (Autorite de Controle Prudentiel) The French Prudential Supervisory Authority (Autorité de Contrôle Prudentiel - ACP) is an independent administrative authority, which monitors the activities of banks and insurance companies in France. It operates operating under the auspices of the French central bank, Banque de France. Spain – CNMV (The Comisión Nacional del Mercado de Valores) The CNMV is the agency in charge of supervising and inspecting the Spanish Stock Markets and the activities of all the participants in those markets. CNMV was created by the Securities Market Law, which instituted in-depth reforms of this segment of the Spanish financial system. Law 37/1998 updated the aforementioned Law and established a regulatory framework that is fully in line with the requirements of the European Union and favours the development of European Stock Markets. Norway – FINANSTILSYNET (Financial Supervisory Authority of Norway) The Financial Supervisory Authority of Norway is a Norwegian government agency responsible for supervision of financial companies within Norway based on law and regulations from Storting, the Norwegian Ministry of Finance and international accounting standards. The agency is located in Oslo and subordinate the Ministry of Finance. It was established in 1986 through a merger of the Bank Inspection Agency, the Broker Control Agency and the Norwegian Insurance Council. Netherlands – AFM (Autoriteit Financiële Markten) The Netherlands Authority for the Financial Markets was set up on 1 March 2002 as the successor to the Securities Board of the Netherlands. As part of the legislation that created the AFM, its responsibilities were greatly expanded to cover all financial products, including savings, investments, loans, insurance and accounting. fxnet homepage : bit.ly/13s3FM1 Professional and governmental bodies: MiFID (Markets in Financial Instruments Directive) The Markets in Financial Instruments Directive 2004/39/EC, as subsequently amended, is a European Union law that provides harmonised regulation for investment services across the 30 member states of the European Economic Area (the 27 Member States of the European Union plus Iceland, Norway and Liechtenstein)FxNet Ltd is fully compliant with MiFID regulation, since the latter has been introduced by the Investment Services and Activities and Regulated Markets Law of 2007 (Law 144(I)/2007) The main objectives of the Directive are to increase competition and consumer protection in investment services. As of the effective date, 1 November 2007, it replaced the Investment Services Directive. fxnet homepage : bit.ly/13s3FM1 ICF (Investors Compensation Fund) FxNet Ltd is a member of the Cyprus Investors Compensation Fund. A fund that has been in place to secure the claims of the covered client against investment firms which are members of the said fund. Client claims for compensation may be exercised through the fund following the failure of a member firm to compensate the client. Such claims can be up to Euro 20,000.00 fxnet homepage : bit.ly/13s3FM1
Posted on: Thu, 18 Jul 2013 18:36:39 +0000
Trending Topics
Recently Viewed Topics
© 2015