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.
The Menace of Clones: Malta’s Regulator Warns against Fake "Documents and Emails"
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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