Regulatory Alerts2023-12-13
Added · Updated
Supplementary Guidance on Regulatory Framework for Authorised Persons Dealing in OTC Leveraged Products for Retail Clients
The Financial Services Regulatory Authority (FSRA) has formalised licensing and operational conditions for authorised persons offering over-the-counter leveraged products to retail clients. The guidance mandates specific experience, qualifications, and fit-and-proper criteria for key personnel while discouraging start-ups lacking a track record. Authorised persons must also implement effective copy and mirror trading systems, maintain robust anti-money laundering compliance, and conduct ongoing due diligence to safeguard retail clients from substantial losses.
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