Currencies

Currencies

Liquidity Providers

Examples of provisions and initiatives affecting LPs that we have particular familiarity with include:

  • FX Global Code
  • FCA Thematic Review 14/13 on Best Execution and Payment for Order Flow and similar drives in other financial centres
  • FMSB Statement of Good Practice for Surveillance in Foreign Exchange Markets
  • FCA Thematic Review 19/4 on Understanding the Money Laundering Risks in the Capital Markets

 

Retail Brokerages

Examples of provisions and initiatives affecting retail brokerages that we have particular knowledge of include:

  • FCA Guidance on the Treatment of Vulnerable Customers
  • ESMA Q&A re: Provision of CFDs and Other Speculative Products to Retail Investors under MiFID
  • FCA and ESMA Restrictions on the Retail Marketing, Distribution and Sale of CFDs and Similar Speculative Investments
  • FCA Finalised Guidance 15/4: Social Media and Customer Communications

 

Payment Services Firms

Examples of provisions and initiatives affecting payment services firms that we have knowledge of include:

  • FCA Payment Services and Electronic Money Approach Document
  • OFSI General Guidance for Financial Sanctions
  • Payment Services Regulations
  • Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations
  • Dear CEO Letter: Non-Bank Payment Service Providers - Requirements for Safeguarding of Customer Funds

 

C&G Regulatory Solutions has in depth knowledge of regulatory expectations pertaining to the international trading of currencies.

We support the following types of market participant:

  • Wholesale FX liquidity providers
  • Retail FX brokerages
  • Commercial entities that use the currency markets to hedge their risk
  • Buy-side investment managers who trade currencies as a part of their portfolios
  • Cryptocurrency firms seeking to understand any regulatory obligations they may have
  • Payment services and electronic money firms

 

Examples of the types of support we can provide include:

  • Assisting payment services providers in understanding the safeguarding and other requirements contained within the Financial Conduct Authority’s (“FCA”) approach document for payments services and electronic money firms
  • Designing role specific conduct rules training for certified staff involved in the provision of FX services
  • Drafting policies and procedures to meet risk mitigation requirements contained in the European Markets Infrastructure Regulation (“EMIR”) and similar regulations
  • Cryptocurrency firms seeking to understand any regulatory obligations they may have
  • Helping commercial entities understand and complete onboarding paperwork that they have received from prospective brokerages

 

This is non-exhaustive list – we may be able to provide advice and guidance on other topics too. Please contact us for a free, no-obligation, one hour initial consultation to discuss your requirements.