Changes in regulatory requirements reach off-shore destinations
For the last two years, we have been witnessing growing regulatory requirements in Europe and, more recently, in Australia as well. Many brokers have decided to open or use existing regulated offshore branches to offer an alternative to clients. Recent changes in Bahamian regulations show that even in safe havens, the business and regulatory environment is inevitably changing. Is this a new trend that will affect the whole FX/CFD industry?
Recent propositions for Bahamian regulations bring important questions to the table. Firstly, everybody would like to know if other offshore jurisdictions will follow the same approach. Secondly, it is not clear yet what the rationale is behind the decision of the Bahamian regulator.
Some Jurisdictions Lack Benefits for Traders?
At first, it may look as though the Bahamas may want to become a more reputable destination for brokers. Since these countries have started to accept FX/CFD brokers and dealers with open arms, the reputation following them has not been very positive. Offshore destinations at best have always been linked to tax avoidance strategies rather than regulatory requirements. In other words, those companies that did not want to pay taxes (or pay much lower taxes) chose offshore destinations. But, there have always been many negative opinions about doing business in such places, especially with consistent accusations of Money Laundering.
"Some jurisdictions were highly popular in the past, but now they've become what we call in our law firm the 'Plan B' jurisdictions – Barbados, Bermuda, Bahamas, and Belize. These serve as a nice place to register the business, but lack a real benefit to the traders or the brokers," told Finance Magnates Tal Itzhak Ron, Chairman, and CEO, Tal Ron, Drihem & Co., Law Firm
With growing regulatory pressure all over the globe, owning a license in offshore destinations seems to be inevitable today. Although no one can be sure in which regions we will see further restrictions next.
To get the full article and the bigger-picture on the regulatory trends for off-shore destinations, get our latest Quarterly Intelligence Report.
For the last two years, we have been witnessing growing regulatory requirements in Europe and, more recently, in Australia as well. Many brokers have decided to open or use existing regulated offshore branches to offer an alternative to clients. Recent changes in Bahamian regulations show that even in safe havens, the business and regulatory environment is inevitably changing. Is this a new trend that will affect the whole FX/CFD industry?
Recent propositions for Bahamian regulations bring important questions to the table. Firstly, everybody would like to know if other offshore jurisdictions will follow the same approach. Secondly, it is not clear yet what the rationale is behind the decision of the Bahamian regulator.
Some Jurisdictions Lack Benefits for Traders?
At first, it may look as though the Bahamas may want to become a more reputable destination for brokers. Since these countries have started to accept FX/CFD brokers and dealers with open arms, the reputation following them has not been very positive. Offshore destinations at best have always been linked to tax avoidance strategies rather than regulatory requirements. In other words, those companies that did not want to pay taxes (or pay much lower taxes) chose offshore destinations. But, there have always been many negative opinions about doing business in such places, especially with consistent accusations of Money Laundering.
"Some jurisdictions were highly popular in the past, but now they've become what we call in our law firm the 'Plan B' jurisdictions – Barbados, Bermuda, Bahamas, and Belize. These serve as a nice place to register the business, but lack a real benefit to the traders or the brokers," told Finance Magnates Tal Itzhak Ron, Chairman, and CEO, Tal Ron, Drihem & Co., Law Firm
With growing regulatory pressure all over the globe, owning a license in offshore destinations seems to be inevitable today. Although no one can be sure in which regions we will see further restrictions next.
To get the full article and the bigger-picture on the regulatory trends for off-shore destinations, get our latest Quarterly Intelligence Report.
A graduate of the Warsaw School of Economics, Sylwester received an MA specializing in finance and banking. As Finance Magnates' research associate and STA certified analyst, he leaves no stone unturned. Sylwester is the previous minority partner of an NFA registered US forex broker, and since 2003, has participated in many forex projects.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
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Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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