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.
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FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
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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.
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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!
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.
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👉 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.
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👉 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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FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24
Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24