Alpari receives CySEC license

Alpari Investments Ltd., presumably a daughter or sister company of one of the Alpari group of companies, has just received a CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term license. License number 129/10 has been granted to the company a few days ago and the company, which already has offices in Cyprus, will soon become operational.

To be honest, I have no idea why they even need that license as they are already license by the FSA in the UK which automatically allows them to passport its activity across Europe including Cyprus. Granted this is a whole different company (though ownership is probably similar or identical as with the rest of the companies in the group) perhaps this company is going to be either dealing with a different type of activity or will eventually become the center of Alpari's European operations. Perhaps UK is too expensive to run such a HQ.

Official statement from Alpari as was sent to me:

Alpari in Cyprus will concentrate on such regions as Eastern Europe and CIS mostly. With CySEC license we can provide our customers with the same level of reliability of a regulated company but with a bit more flexible conditions. This would better accomodate needs of customers from these regions.