MUFG subsidiary secures investment firm license in the Netherlands

Maria Nikolova

The license is set to ensure that MUFG will be in a position to continue to provide securities services to its clients across Europe after Brexit.

The number of companies opting for EU licenses as a part of their efforts to secure stable services after the United Kingdom leaves the European Union is growing. Today, Mitsubishi UFJ Securities Holdings Co., Ltd., a consolidated subsidiary of Mitsubishi UFJ Financial Group Inc (TYO:8306), announces that its new indirect subsidiary in Amsterdam, MUFG Securities (Europe) N.V., has been granted a license to operate as an investment firm by the Dutch Authority for the Financial Markets.

The company sees the license is a major step towards ensuring that MUFG will be in a position to continue to provide securities services to its clients across Europe after Brexit.

Earlier in December, Mizuho Securities Europe GmbH, established in Frankfurt as a subsidiary of Mizuho International plc – the UK business of Mizuho Securities, was granted a MiFID investment services license by Germany’s financial regulator BaFin. The aim of the move was also to secure smooth and uninterrupted continuation of trading activities with clients in case of a hard Brexit.

Other online trading companies have also opted to secure non-UK licenses in order to prepare themselves for all possible consequences of Brexit. Electronic trading major IG Group Holdings plc (LON:IGG), for instance, has recently confirmed that IG Europe, the Group’s client facing subsidiary in Germany, has received its licence from BaFin. This offers certainty that IG will be able to offer its regulated financial products in all EU member states following the UK’s exit from the EU.

In the meantime, the UK Financial Conduct Authority (FCA) has published a consultation paper on plans to introduce a temporary permissions regime (TPR). The temporary permissions regime will allow EEA firms and funds to continue regulated business in the UK, if the UK leaves the EU in March 2019 without an implementation period in place.

Read this next

Retail FX

eToro is latest platform to suspend Terra’s LUNA, Binance resumes trading

Israeli social trading network eToro has become the latest platform to suspend trading on the Terra (LUNA) cryptocurrency in light of a market-wide downturn.

Industry News

UK court allows ThinkMarkets’ “obscure” B-book claims against IS Prime

“The Judge added that “Think did need to address the concerns expressed” as its counterclaim “suffers from a lack of detail, obscurity and potential inconsistency”.

Retail FX

Brazilian Broker XP launches crypto trading to 3.5M users

XP Inc (XP.O) is set to launch a crypto trading platform, dubbed ‘XTAGE’, as Brazil’s largest broker is looking to tap into the growing interest in trading bitcoin and other digital assets.

Retail FX

easyMarkets adds MT5 as demand for platform continues to grow

easyMarkets has joined a growing group of brokers in switching over to MetaTrader 5 (MT5), becoming the latest retail platform to incorporate the platform into its live trading infrastructure.

Institutional FX

SGX’s FX volume shines in a largely lackluster April

The Singapore Exchange (SGX) notched a healthy gain in its FX and indices volumes, despite seeing a wavering performance across commodity and securities segments.

Industry News

Devexperts webinar: Attracting retail traders with fractional trading

Following the successful webinar on introducing crypto to retail investors, Devexperts is returning to host a new one about fractional trading. 

Digital Assets

Relai to launch bitcoin debit card to unlock BTC via every purchase

To attract more retail investors to the crowdfunding project, Relai has promised 0% fees on transactions on the Relai app for those who invest €5,000 or more.

Digital Assets

Amid crypto meltdown, Tether reduces corporate debts in USDT reserves

Tether, which is closely affiliated with crypto exchange Bitfinex, has drastically reduced its holdings of commercial debt in its reserves over the last six months. Instead, the stablecoin issuer allocated most of its non-fiat reserves to Treasury bills, almost doubling assets in short-term government securities.

Industry News

TrustPay launches SEPA instant payments

” Our clients will now be able to make instant transactions with the immediate settlement of funds, which makes business more effective in today’s fast world.”

<