SVG is Tightening the Screws. More Solutions From UTIP
Friday,10/02/2023|12:07GMTby
FM
This shift has seriously worried the market and sparked heated debates on how to respond.
The jurisdiction of St. Vincent and the Grenadines (SVG) has been attractive to owners of high-risk projects over the years as it offered the most reasonable price-performance ratio and the lowest level of bureaucracy and paperwork. But the latest news raised concerns about regulatory changes in the Forex industry.
Background
At the beginning of 2023, the FCA required Forex companies to provide certified copies of the licenses issued by the countries of their operation. Moreover, the deadline for granting licenses turned out to be tight, with only 2 months after the requirement was published.
This shift has seriously worried the market and sparked heated debates on how to respond to the regulator's claims.
UTIP solutions
UTIP Technologies experts have already dealt with similar issues, so there are certain options for resolving difficulties in favor of our clients. Let's take a closer look.
The first option is to comply with the regulator's requirements and provide copies of the license or legal opinion.
A legal opinion is a document issued by a law firm stating that a company does not require a license to conduct certain activities in the specified jurisdiction. It is accompanied by references to national legislation and market regulators' acts, along with legal counsel's comments.
The second option is to relocate the OTC business to a jurisdiction with more lenient requirements. Our clients often choose the Marshall Islands, located in the Pacific Ocean.
The jurisdiction of the Marshall Islands has several advantages over one of St.Vincent and the Grenadines. Registering a company in the Marshall Islands is much faster, as it requires fewer documents from the owner.
Moreover, the jurisdiction's regulator, GLOFSA, does not require licensing of Forex companies, and it doesn’t perform audits of their activities. There are also some conventional benefits of unregulated jurisdictions, including zero taxation and privacy.
It costs 20-25% more to register a company in the Marshall Islands than in St. Vincent and the Grenadines. However, the speed of filing and the lack of licensing requirements are quite enough to cover the costs.
UTIP provides support in registering a company under unregulated jurisdiction
Based on our interaction with existing and potential clients, the option with an offshore jurisdiction seems to be the most preferable and desirable in terms of price-to-time ratio.
That's why it is recommended for trading operations. In this regard, if it is important for you to register under unregulated jurisdiction, UTIP Technologies experts are ready to provide assistance, as well as to offer a wide range of other services.
The jurisdiction of St. Vincent and the Grenadines (SVG) has been attractive to owners of high-risk projects over the years as it offered the most reasonable price-performance ratio and the lowest level of bureaucracy and paperwork. But the latest news raised concerns about regulatory changes in the Forex industry.
Background
At the beginning of 2023, the FCA required Forex companies to provide certified copies of the licenses issued by the countries of their operation. Moreover, the deadline for granting licenses turned out to be tight, with only 2 months after the requirement was published.
This shift has seriously worried the market and sparked heated debates on how to respond to the regulator's claims.
UTIP solutions
UTIP Technologies experts have already dealt with similar issues, so there are certain options for resolving difficulties in favor of our clients. Let's take a closer look.
The first option is to comply with the regulator's requirements and provide copies of the license or legal opinion.
A legal opinion is a document issued by a law firm stating that a company does not require a license to conduct certain activities in the specified jurisdiction. It is accompanied by references to national legislation and market regulators' acts, along with legal counsel's comments.
The second option is to relocate the OTC business to a jurisdiction with more lenient requirements. Our clients often choose the Marshall Islands, located in the Pacific Ocean.
The jurisdiction of the Marshall Islands has several advantages over one of St.Vincent and the Grenadines. Registering a company in the Marshall Islands is much faster, as it requires fewer documents from the owner.
Moreover, the jurisdiction's regulator, GLOFSA, does not require licensing of Forex companies, and it doesn’t perform audits of their activities. There are also some conventional benefits of unregulated jurisdictions, including zero taxation and privacy.
It costs 20-25% more to register a company in the Marshall Islands than in St. Vincent and the Grenadines. However, the speed of filing and the lack of licensing requirements are quite enough to cover the costs.
UTIP provides support in registering a company under unregulated jurisdiction
Based on our interaction with existing and potential clients, the option with an offshore jurisdiction seems to be the most preferable and desirable in terms of price-to-time ratio.
That's why it is recommended for trading operations. In this regard, if it is important for you to register under unregulated jurisdiction, UTIP Technologies experts are ready to provide assistance, as well as to offer a wide range of other services.
SMX's 1900% Surge Since November Is Not a Momentum Trade; It's Based on Transformative and Deliverable Techology
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
