Global brokerage group, Equiti announced on Wednesday that it has received an OTC Derivatives and Foreign Exchange Spot Markets license from the UAE Securities and Commodities Authority (SCA), thus further strengthening its licensing in the Middle East.
The license was granted to Equiti Securities Currencies Brokers LLC, which is a subsidiary of Equiti Group. It has gained the status of a Catagory One status under the SCA’s licensing regime.
“Equiti is thrilled to be one of the first global brokers to be awarded this new category license by the UAE’s Securities and Commodities Authority,” said Iskandar Najjar, Equiti Group’s Co-Founder and CEO.
“Our vision is to create a best-in-class client experience, and regional oversight by the UAE’s global standard of regulation
Regulation
Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority (FCA), the US’ Securities and Exchange Commission (SEC), Australian Security and Investment Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC) are the most widely dealt with authorities in the FX industry.In its most basic sense, regulators help ensure the filing of reports and transmission of data to help police and monitor activity by brokers. Regulators also serve as a countermeasure against market abuse and malpractice by brokers. Brokers adhering to a list of mandated rules are authorized to provide investment activities in a given jurisdiction. By extension, many unauthorized or unregulated entities will also seek to market their services illegally or function as a clone of a regulated operation.Regulators are essential in snuffing out these scam operations as they prevent significant risks for investors.In terms of reporting, brokers are also required to regularly file reports about their clients’ positions to the relevant regulatory authorities. The most-recent regulatory push in the aftermath of the Great Financial Crisis of 2008 has delivered a material shift in the regulatory reporting landscape.Brokers typically outsource the reporting to other companies which are connecting the trade repositories used by regulators to the broker’s systems and are handling this crucial element of compliance.Beyond FX, regulators help reconcile all matters of oversight and are watchdogs for each industry. With ever-changing information and protocols, regulators are always working to promote fairer and more transparent business practices from brokers or exchanges.
Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority (FCA), the US’ Securities and Exchange Commission (SEC), Australian Security and Investment Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC) are the most widely dealt with authorities in the FX industry.In its most basic sense, regulators help ensure the filing of reports and transmission of data to help police and monitor activity by brokers. Regulators also serve as a countermeasure against market abuse and malpractice by brokers. Brokers adhering to a list of mandated rules are authorized to provide investment activities in a given jurisdiction. By extension, many unauthorized or unregulated entities will also seek to market their services illegally or function as a clone of a regulated operation.Regulators are essential in snuffing out these scam operations as they prevent significant risks for investors.In terms of reporting, brokers are also required to regularly file reports about their clients’ positions to the relevant regulatory authorities. The most-recent regulatory push in the aftermath of the Great Financial Crisis of 2008 has delivered a material shift in the regulatory reporting landscape.Brokers typically outsource the reporting to other companies which are connecting the trade repositories used by regulators to the broker’s systems and are handling this crucial element of compliance.Beyond FX, regulators help reconcile all matters of oversight and are watchdogs for each industry. With ever-changing information and protocols, regulators are always working to promote fairer and more transparent business practices from brokers or exchanges.
Read this Term is core to achieving this. Equiti Group is extremely pleased to contribute to the UAE’s flourishing success and its progressively developing financial sector.”
Also, the broker pointed out that the SCA has stringent requirements for the license that includes higher paid-up capital. All the requirements put the license on par with any other top-tier global financial market regulator.
Strengthening the Licensing Arsenal
Equiti Group is one of the heavily regulated broker groups. Apart from the UAE, it is licensed in several jurisdictions including the United Kingdom, Jordan, Kenya, Seychelles and Armenia.
The announcement further revealed that the UAE entity of the group already employs around 80 staff members in several roles.
“With the addition of our new UAE SCA license, our clients in the region can be confident that they are dealing with one of the most well-regulated and progressive brokers in the Middle East,” Mohamed Al-Ahmad, the CEO of Equiti Securities Currencies Brokers and Co-founder of Equiti Group, said.
Gaurang Desai, Equiti Group’s Managing Director of Strategy, said: “The UAE has always been a pioneer in drafting regulation and in leading the way in developing the industry across multiple asset classes; more recently digital assets.
“We are excited to collaborate with the regulatory bodies in developing a safe, sustainable and globally comparable investment industry in the UAE.”
Global brokerage group, Equiti announced on Wednesday that it has received an OTC Derivatives and Foreign Exchange Spot Markets license from the UAE Securities and Commodities Authority (SCA), thus further strengthening its licensing in the Middle East.
The license was granted to Equiti Securities Currencies Brokers LLC, which is a subsidiary of Equiti Group. It has gained the status of a Catagory One status under the SCA’s licensing regime.
“Equiti is thrilled to be one of the first global brokers to be awarded this new category license by the UAE’s Securities and Commodities Authority,” said Iskandar Najjar, Equiti Group’s Co-Founder and CEO.
“Our vision is to create a best-in-class client experience, and regional oversight by the UAE’s global standard of regulation
Regulation
Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority (FCA), the US’ Securities and Exchange Commission (SEC), Australian Security and Investment Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC) are the most widely dealt with authorities in the FX industry.In its most basic sense, regulators help ensure the filing of reports and transmission of data to help police and monitor activity by brokers. Regulators also serve as a countermeasure against market abuse and malpractice by brokers. Brokers adhering to a list of mandated rules are authorized to provide investment activities in a given jurisdiction. By extension, many unauthorized or unregulated entities will also seek to market their services illegally or function as a clone of a regulated operation.Regulators are essential in snuffing out these scam operations as they prevent significant risks for investors.In terms of reporting, brokers are also required to regularly file reports about their clients’ positions to the relevant regulatory authorities. The most-recent regulatory push in the aftermath of the Great Financial Crisis of 2008 has delivered a material shift in the regulatory reporting landscape.Brokers typically outsource the reporting to other companies which are connecting the trade repositories used by regulators to the broker’s systems and are handling this crucial element of compliance.Beyond FX, regulators help reconcile all matters of oversight and are watchdogs for each industry. With ever-changing information and protocols, regulators are always working to promote fairer and more transparent business practices from brokers or exchanges.
Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority (FCA), the US’ Securities and Exchange Commission (SEC), Australian Security and Investment Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC) are the most widely dealt with authorities in the FX industry.In its most basic sense, regulators help ensure the filing of reports and transmission of data to help police and monitor activity by brokers. Regulators also serve as a countermeasure against market abuse and malpractice by brokers. Brokers adhering to a list of mandated rules are authorized to provide investment activities in a given jurisdiction. By extension, many unauthorized or unregulated entities will also seek to market their services illegally or function as a clone of a regulated operation.Regulators are essential in snuffing out these scam operations as they prevent significant risks for investors.In terms of reporting, brokers are also required to regularly file reports about their clients’ positions to the relevant regulatory authorities. The most-recent regulatory push in the aftermath of the Great Financial Crisis of 2008 has delivered a material shift in the regulatory reporting landscape.Brokers typically outsource the reporting to other companies which are connecting the trade repositories used by regulators to the broker’s systems and are handling this crucial element of compliance.Beyond FX, regulators help reconcile all matters of oversight and are watchdogs for each industry. With ever-changing information and protocols, regulators are always working to promote fairer and more transparent business practices from brokers or exchanges.
Read this Term is core to achieving this. Equiti Group is extremely pleased to contribute to the UAE’s flourishing success and its progressively developing financial sector.”
Also, the broker pointed out that the SCA has stringent requirements for the license that includes higher paid-up capital. All the requirements put the license on par with any other top-tier global financial market regulator.
Strengthening the Licensing Arsenal
Equiti Group is one of the heavily regulated broker groups. Apart from the UAE, it is licensed in several jurisdictions including the United Kingdom, Jordan, Kenya, Seychelles and Armenia.
The announcement further revealed that the UAE entity of the group already employs around 80 staff members in several roles.
“With the addition of our new UAE SCA license, our clients in the region can be confident that they are dealing with one of the most well-regulated and progressive brokers in the Middle East,” Mohamed Al-Ahmad, the CEO of Equiti Securities Currencies Brokers and Co-founder of Equiti Group, said.
Gaurang Desai, Equiti Group’s Managing Director of Strategy, said: “The UAE has always been a pioneer in drafting regulation and in leading the way in developing the industry across multiple asset classes; more recently digital assets.
“We are excited to collaborate with the regulatory bodies in developing a safe, sustainable and globally comparable investment industry in the UAE.”
Source: https://www.financemagnates.com/forex/brokers/equiti-gains-otc-category-one-license-from-uaes-sca/