How offshore jurisdictions are used to onboard retail FX clients to circumvent regulations - An incisive debate - FinanceFeeds

How offshore jurisdictions are used to onboard retail FX clients to circumvent regulations – An incisive debate

From onboarding clients via decoy offshore branches to lack of regulatory jurisdiction. Here are the conflicting practices that involve affiliates accepting deposit payments to personal accounts to bamboozle the merchant services providers and why such practices slip through the net

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Industry News, Retail FX, Week in Review

3 days until MiFID II – FX brokers onboarding clients offshore face losing their CySec license

Companies onboarding clients via subverting the CySec licences that they hold in order to onboard clients to offshore regions such as the Marshall Islands, and in some cases, FinanceFeeds has found that they do so via using personal entities as agencies (!) will no longer be able to do so, as European Union officials prepare to cut off the funds and make it impossible. We analyzed this during the course of 2017, and now the law is coming.