Regulatory Alerts2022-09-23
Supplementary Guidance – Regulatory Framework for Authorised Persons dealing in OTC Leveraged Products for Retail Clients
The Financial Services Regulatory Authority (FSRA) issues this supplementary guidance to formalize licensing conditions and operational requirements for authorized persons offering over-the-counter leveraged products to retail clients. The regulator mandates stringent experience and qualification criteria for senior executives and compliance officers, while explicitly discouraging start-up operations from seeking approval due to insufficient track records. Additionally, the guidance prohibits copy or mirror trading services unless the firm holds specific asset management permissions and implements robust risk management systems alongside full anti-money laundering compliance.
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