Regulatory Alerts2024-05-22
FSCA Communication 19 of 2024 on Multilateral Trading Facilities and Exchanges
The Financial Sector Conduct Authority clarifies that the existing Financial Markets Act currently does not permit or license Multilateral Trading Facilities, recognizing only traditional exchanges. Because the Act lacks specific licensing and ongoing obligations for MTFs, investors trading on these platforms may lack critical protections and a level playing field. Entities operating as MTFs are therefore advised to obtain legal advice to ensure their activities comply with the Act and maintain investor safeguards.
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