Home Regulators
ASIC
Who is the ASIC?
Founded in July 1998, the Australian Securities & Investments Commission(ASIC) is now positioned as the national corporate regulator supervising Australia’s corporations, markets, and financial services in accordance with the Australian Securities and Investments Commission Act 2001.
ASIC's role is to regulate company and financial services including banks, credit unions and mortgage and finance brokers, and enforce laws to protect Australian consumers, investors and creditors in a bid to create a fair and equitable financial market.
To be able to operate in Australia or offer financial services to Australians, brokers are required to hold a valid Australian Financial Services (AFS) licence. The most important reason why a multitude of leading forex brokers choose ASIC as their regulatory agency is that it works to protect their interests. Moreover, the brokers also want to make use of the highly lucrative Australian market.
ASIC has become one of the most competent broker regulation standards worldwide. It has quite strict requirements, including risk limitation, bonus prohibition, and consumer enlightenment.
However, in recent times ASIC has become the subject of criticism by consumers, consumer advocates and public officials over its inaction and inefficiencies in protecting consumers from large financial instiutions.
How does the ASIC regulate a forex broker?
1. Safety of Client Funds：
A segregated account at a tier 1 bank.
2. Requirement on Forex Brokers' Initial Capital:
A minimum operational fund of 1 Million USD.
3. Requirement on Forex Brokers' Reports：
Annual audit report; Monthly income statement; Monthly balance sheet; Daily, monthly and annual customer transaction report.
4. Others：
A physical office that can be visited in Australia; Risk limitation; Bonus prohibition; Consumer enlightenment.
RELATED AGENCIES
FSA
Who is the Seychelles FSA?As the Seychelles has become an increasingly popular destination for offshore financial services and capital markets companies, the Seychelles Financial Services Authority (FSA Seychelles) has taken on an increasingly prominent role within the non-bank financial services sector.Established under the Financial Services Authority Act, 2013, FSA is responsible to license, regulate, enforce regulatory and compliance requirements, monitor and supervise the conduct of business in the non-bank financial services sector in the Seychelles. These regulated activities include fiduciary services, capital market & collective investment schemes, insurance, and gambling. FSA is also responsible for the registration of international business companies, foundations, limited partnership and international trust in the Seychelles.How does the Seychelles FSA regulate a forex broker?1. Safety of Client Funds：The Minister may, on the recommendation of the Securties Authority, make regulations with respect to the segregation and safekeeping of clients' money or securities held by licensees on behalf of clients.2. Requirement on Forex Brokers' Reports：Transaction Reports; Audit Reports; Clients Funds Reports; Anti-laundering Reports.
Danish FSA
Who is the Danish FSA?The Danish FSA, also known as the Finanstilsynet, is the regulatory agency for the supervision and licensing of financial entities in Denmark.It was created in 1988 following the merger of the Insurance Supervisory Authority and the Supervisory Authority for Banks and Savings Banks. It had more responsibilities added to its remit when it took over from the Supervisory Authority for Mortgage Credit Institutions in 1990.The Danish FSA is responsible for the smooth functioning majority of Denmark’s financial system, which includes banks, securities markets, money brokers, payment systems, stock exchanges, insurance, pensions, fund management, investment companies, auditors, and all financial market participants that deal with the financial system of the country. Forex brokers, CFD dealers, and businesses that provide a multitude of OTC products come under the direct regulation of the Danish FSA.How does the Danish FSA regulate a forex broker?1. Safety of Client Funds：An investment firm shall, when holding funds belonging to clients, make adequate arrangements to safeguard the rights of clients and, except in the case of credit institutions, prevent the use of client funds for its own account.2. Requirement on Forex Brokers' Reports：Audit Reports; Anti-money laundering Reports.
FKTK
Who is the FKTK?The Financial and Capital Market Commission of Republic of Latvia (FKTK) commences its activities in 2001. FKTK is an autonomous public institution, which carries out the supervision of Latvian banks, credit unions, insurance companies and insurance brokerage companies, participants of financial instruments market, as well as private pension funds, payment institutions and electronic money institutions.FKTK supervises provision of currency exchange (FOREX) services, which are not performed for commercial purposes and have following characteristics – an initial security deposit in advance of a transaction is required, expected transaction settlements are net cash settlements, the investor’s financial results depend on the currency exchange rate fluctuations.FKTK ensures enhancing stability, competitiveness and development of the financial and capital markets as well as protection of the interests of investors, depositors and insured persons.Its mission is to take care for the public interests by regulating and monitoring the functioning of the financial and capital markets, by protecting the interests of investors, depositors and the insured persons, including financial literacy, the development and stability of the financial and capital markets.How does the FKTK regulate a forex broker? 1. Safety of Client Funds：Brokers are required to put clients funds into segregated accounts.2. Requirement on Forex Brokers' Reports：Annual Audit Reports; Daily Transaction Reports.
PFSA
Who is the PFSA?The Polish Financial Supervision Authority (PFSA) is the financial regulatory authority for Poland. The PFSA was formed on 19 September 2006 pursuant to the Financial Market Supervision Act of 21 July 2006.The PFSA supervises the banking, capital, insurance and pension sectors, payment institutions and payment service offices, electronic money institutions and credit unions. It monitors brokerage services on the OTC derivatives market provided by investment firms to clients. The purpose of supervision of the financial market is to ensure its proper functioning, stability, security and transparency, confidence in the financial market, and to ensure that the interests of market participants are protected.How does the PFSA regulate a forex broker?1. Safety of Client Funds：Brokers are required to put clients funds into segregated accounts.2. Requirement on Forex Brokers' Reports：Annual Audit Reports; Daily Transaction Reports.
MFSA
Who is the MFSA?Malta is an ideal destination for businesses to expand presence and is considered to be a promising financial center in Europe.The Malta Financial Services Authority (MFSA) is an autonomous financial regulator overseeing the financial industry in Malta since 2002. It boasts a reputation of well-developed infrastructure and framework, as well as for the sophistication of its financial market.The MFSA supervises the financial behavior of all the licensed Forex Brokerage Firms, Credit institutions, Insurance and Pension Companies, Financial Advisors, Banks, Stock Exchange, and all the related firms that play a role in the entire Maltese Market.Investor protection is the primary concern for MFSA, and the agency has created several departments to help consumers report any cases of financial abuses or broker scams. How does the MFSA regulate a forex broker?Requirement on Forex Brokers' Reports：Transaction Reports; Audit Reports; Clients Funds Reports; Anti-money laundering Reports.
AMF
Who is the AMF?The Financial Authority (Autorité des Marchés Financiers, AMF) and the Prudential Authority (Autorité de Contrôle Prudentiel et de Résolution, ACPR) are the primary financial regulators in France. In its capacity as the stock market regulator, the AMF is responsible for the supervision of financial markets and investment firms. The ACPR, an independent administrative authority under the central bank, the Banque de France, supervises the banking and insurance sectors. France is an EU member state, and financial regulations and operations in France comply with the European MiFID financial harmonization law.How does the AMF regulate a forex broker?1. Safety of Client Funds：Clients funds should be put into segregated accounts.2. Requirement on Forex Brokers' Reports：Audit Reports; Anti-money laundering Reports.
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Company Name: Australian Securities & Investment Commission
Country: Australian
Date of establishment: 1998
Regulating Forex: Yes
Type of organization: Government
RELATED AGENCIES
FSA
Who is the Seychelles FSA?As the Seychelles has become an increasingly popular destination for offshore financial services and capital markets companies, the Seychelles Financial Services Authority (FSA Seychelles) has taken on an increasingly prominent role within the non-bank financial services sector.Established under the Financial Services Authority Act, 2013, FSA is responsible to license, regulate, enforce regulatory and compliance requirements, monitor and supervise the conduct of business in the non-bank financial services sector in the Seychelles. These regulated activities include fiduciary services, capital market & collective investment schemes, insurance, and gambling. FSA is also responsible for the registration of international business companies, foundations, limited partnership and international trust in the Seychelles.How does the Seychelles FSA regulate a forex broker?1. Safety of Client Funds：The Minister may, on the recommendation of the Securties Authority, make regulations with respect to the segregation and safekeeping of clients' money or securities held by licensees on behalf of clients.2. Requirement on Forex Brokers' Reports：Transaction Reports; Audit Reports; Clients Funds Reports; Anti-laundering Reports.
Danish FSA
Who is the Danish FSA?The Danish FSA, also known as the Finanstilsynet, is the regulatory agency for the supervision and licensing of financial entities in Denmark.It was created in 1988 following the merger of the Insurance Supervisory Authority and the Supervisory Authority for Banks and Savings Banks. It had more responsibilities added to its remit when it took over from the Supervisory Authority for Mortgage Credit Institutions in 1990.The Danish FSA is responsible for the smooth functioning majority of Denmark’s financial system, which includes banks, securities markets, money brokers, payment systems, stock exchanges, insurance, pensions, fund management, investment companies, auditors, and all financial market participants that deal with the financial system of the country. Forex brokers, CFD dealers, and businesses that provide a multitude of OTC products come under the direct regulation of the Danish FSA.How does the Danish FSA regulate a forex broker?1. Safety of Client Funds：An investment firm shall, when holding funds belonging to clients, make adequate arrangements to safeguard the rights of clients and, except in the case of credit institutions, prevent the use of client funds for its own account.2. Requirement on Forex Brokers' Reports：Audit Reports; Anti-money laundering Reports.
FKTK
Who is the FKTK?The Financial and Capital Market Commission of Republic of Latvia (FKTK) commences its activities in 2001. FKTK is an autonomous public institution, which carries out the supervision of Latvian banks, credit unions, insurance companies and insurance brokerage companies, participants of financial instruments market, as well as private pension funds, payment institutions and electronic money institutions.FKTK supervises provision of currency exchange (FOREX) services, which are not performed for commercial purposes and have following characteristics – an initial security deposit in advance of a transaction is required, expected transaction settlements are net cash settlements, the investor’s financial results depend on the currency exchange rate fluctuations.FKTK ensures enhancing stability, competitiveness and development of the financial and capital markets as well as protection of the interests of investors, depositors and insured persons.Its mission is to take care for the public interests by regulating and monitoring the functioning of the financial and capital markets, by protecting the interests of investors, depositors and the insured persons, including financial literacy, the development and stability of the financial and capital markets.How does the FKTK regulate a forex broker? 1. Safety of Client Funds：Brokers are required to put clients funds into segregated accounts.2. Requirement on Forex Brokers' Reports：Annual Audit Reports; Daily Transaction Reports.
PFSA
Who is the PFSA?The Polish Financial Supervision Authority (PFSA) is the financial regulatory authority for Poland. The PFSA was formed on 19 September 2006 pursuant to the Financial Market Supervision Act of 21 July 2006.The PFSA supervises the banking, capital, insurance and pension sectors, payment institutions and payment service offices, electronic money institutions and credit unions. It monitors brokerage services on the OTC derivatives market provided by investment firms to clients. The purpose of supervision of the financial market is to ensure its proper functioning, stability, security and transparency, confidence in the financial market, and to ensure that the interests of market participants are protected.How does the PFSA regulate a forex broker?1. Safety of Client Funds：Brokers are required to put clients funds into segregated accounts.2. Requirement on Forex Brokers' Reports：Annual Audit Reports; Daily Transaction Reports.
MFSA
Who is the MFSA?Malta is an ideal destination for businesses to expand presence and is considered to be a promising financial center in Europe.The Malta Financial Services Authority (MFSA) is an autonomous financial regulator overseeing the financial industry in Malta since 2002. It boasts a reputation of well-developed infrastructure and framework, as well as for the sophistication of its financial market.The MFSA supervises the financial behavior of all the licensed Forex Brokerage Firms, Credit institutions, Insurance and Pension Companies, Financial Advisors, Banks, Stock Exchange, and all the related firms that play a role in the entire Maltese Market.Investor protection is the primary concern for MFSA, and the agency has created several departments to help consumers report any cases of financial abuses or broker scams. How does the MFSA regulate a forex broker?Requirement on Forex Brokers' Reports：Transaction Reports; Audit Reports; Clients Funds Reports; Anti-money laundering Reports.
AMF
Who is the AMF?The Financial Authority (Autorité des Marchés Financiers, AMF) and the Prudential Authority (Autorité de Contrôle Prudentiel et de Résolution, ACPR) are the primary financial regulators in France. In its capacity as the stock market regulator, the AMF is responsible for the supervision of financial markets and investment firms. The ACPR, an independent administrative authority under the central bank, the Banque de France, supervises the banking and insurance sectors. France is an EU member state, and financial regulations and operations in France comply with the European MiFID financial harmonization law.How does the AMF regulate a forex broker?1. Safety of Client Funds：Clients funds should be put into segregated accounts.2. Requirement on Forex Brokers' Reports：Audit Reports; Anti-money laundering Reports.
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