Regulations Take Center Stage at iFX Expo International 2017
- Finance Magnates reports live from the annual industry event in Cyprus.
The second panel at the iFX Expo International 2017 is titled: "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 ( 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 ( Read this Term, Regulation, Reputation." Industry experts explain and debate the latest developments and the best ways to tackle regulatory concerns in various jurisdictions.
[gptAdvertisement]'Regulators manage risks just like brokers. They will only kill the industry if they need the power' #forex #regulation @iFXEXPO @Cappitech pic.twitter.com/KbdzbmNBgn
— Finance Magnates (@financemagnates) May 24, 2017
Maor Lahav, COO of Panda: "We need the regulators, it’s a must. The issues are that unregulated will beat the regulated ones. Regulators need to be careful not to push the regulated towards unregulated area. The rules are changing all the time."
Ron Finberg, Business Development, Cappitech: "Regulators don’t really care about the industry. They want to get out as much OTC as they can." Speaking about MiFID II MiFID II MiFID II stands for the Markets in Financial Instruments Directive, and is the second iteration of a sweeping directive. As such it is known as MiFID II. The original Markets in Financial Instruments Directive (MiFID) became effective in November 2007. It was intended as the foundation of the EU’s Financial Services Action Plan, a comprehensive project to create a single European market in financial services. MiFID is intended to create a level playing field for firms to compete in the EU’s fina MiFID II stands for the Markets in Financial Instruments Directive, and is the second iteration of a sweeping directive. As such it is known as MiFID II. The original Markets in Financial Instruments Directive (MiFID) became effective in November 2007. It was intended as the foundation of the EU’s Financial Services Action Plan, a comprehensive project to create a single European market in financial services. MiFID is intended to create a level playing field for firms to compete in the EU’s fina Read this Term he added: "As a broker you have an obligation to really understand what you have to do and what you have to report."
Representing JFD Brokers is Joseph Tsirakkis, the co-founder and Managing Partner of Joseph Tsirakkis LLC and board member of JFD Brokers Ltd. "Regulators try to clean the market from unregulated brokers and to limit regulated ones. Aggressive marketing coming from Cyprus will be over because of the regulator pressure."
Zvi Gabbay, Partner and Head of Capital Markets, Barnea & Co: "Regulators compete over power, and when one regulator set an aggressive tone against an asset as the Israeli regulator does, other regulators wont have any other choice but to follow. If an investor will lose money the regulator will be attentive to that, but if a company will be shut down it’s a different thing for the regulator. does the regulator want to kill the industry? in Cyprus no, but in Israel maybe yes. Financial regulators couldn’t live with the way the game was played. Where a broker makes money when his client loses, this the regulator will never accept."
Peter Tatarnikov, CEO, Financial Commission: "Regulations will never be easier and as time goes all brokers will have to become regulated. Regulators are always behind. Businesses know better about the market."
The second panel at the iFX Expo International 2017 is titled: "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 ( 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 ( Read this Term, Regulation, Reputation." Industry experts explain and debate the latest developments and the best ways to tackle regulatory concerns in various jurisdictions.
[gptAdvertisement]'Regulators manage risks just like brokers. They will only kill the industry if they need the power' #forex #regulation @iFXEXPO @Cappitech pic.twitter.com/KbdzbmNBgn
— Finance Magnates (@financemagnates) May 24, 2017
Maor Lahav, COO of Panda: "We need the regulators, it’s a must. The issues are that unregulated will beat the regulated ones. Regulators need to be careful not to push the regulated towards unregulated area. The rules are changing all the time."
Ron Finberg, Business Development, Cappitech: "Regulators don’t really care about the industry. They want to get out as much OTC as they can." Speaking about MiFID II MiFID II MiFID II stands for the Markets in Financial Instruments Directive, and is the second iteration of a sweeping directive. As such it is known as MiFID II. The original Markets in Financial Instruments Directive (MiFID) became effective in November 2007. It was intended as the foundation of the EU’s Financial Services Action Plan, a comprehensive project to create a single European market in financial services. MiFID is intended to create a level playing field for firms to compete in the EU’s fina MiFID II stands for the Markets in Financial Instruments Directive, and is the second iteration of a sweeping directive. As such it is known as MiFID II. The original Markets in Financial Instruments Directive (MiFID) became effective in November 2007. It was intended as the foundation of the EU’s Financial Services Action Plan, a comprehensive project to create a single European market in financial services. MiFID is intended to create a level playing field for firms to compete in the EU’s fina Read this Term he added: "As a broker you have an obligation to really understand what you have to do and what you have to report."
Representing JFD Brokers is Joseph Tsirakkis, the co-founder and Managing Partner of Joseph Tsirakkis LLC and board member of JFD Brokers Ltd. "Regulators try to clean the market from unregulated brokers and to limit regulated ones. Aggressive marketing coming from Cyprus will be over because of the regulator pressure."
Zvi Gabbay, Partner and Head of Capital Markets, Barnea & Co: "Regulators compete over power, and when one regulator set an aggressive tone against an asset as the Israeli regulator does, other regulators wont have any other choice but to follow. If an investor will lose money the regulator will be attentive to that, but if a company will be shut down it’s a different thing for the regulator. does the regulator want to kill the industry? in Cyprus no, but in Israel maybe yes. Financial regulators couldn’t live with the way the game was played. Where a broker makes money when his client loses, this the regulator will never accept."
Peter Tatarnikov, CEO, Financial Commission: "Regulations will never be easier and as time goes all brokers will have to become regulated. Regulators are always behind. Businesses know better about the market."