Licensing
Regulation & Registration

The Cyprus Securities and Exchange Commission (CySEC) was established in accordance with section 5 of the Cyprus Securities and Exchange Commission (Establishment and Responsibilities) Law of 2001 as a public legal entity.

CySEC aims to oversee and control the operation of financial exchange markets and the transactions performed within those markets. CySEC may:

• Supervise those who issue securities and list them on the Cyprus Stock Exchange.
• Inspect brokers, companies, investment consultants and mutual fund management companies.
• Issue licenses to operate to brokers, brokerage firms, investment firms and consultants.
• Revoke licenses to operate as and when necessary.
• Impose punitive sanctions on investment consultants, brokers and any other body which fall under the authority of CySEC.

FXTM (ForexTime Limited) is licensed by CySEC to offer the following Investment and Ancillary Services:

• Receiving and transmitting orders.
• Executing orders on behalf of its clients.
• Dealing on own account.
• Portfolio Management.
• Safekeeping of financial instruments and custodianship of cash/ collateral management.
• Granting credits or loans to one or more financial instruments, where the firm granting the credit or loan is involved in the transaction
• Foreign exchange services which are connected to investment services.
• Investment research.

The FSCA (former FSB) is an independent institution established by statute to oversee the South African Non-Banking Financial Services Industry in the public interest. FXTM (ForexTime Limited) holds a category 1 license to act as an Intermediary in Securities and Instruments (Shares, Money market instruments, Bonds, Derivative instruments).

The Financial Sector Conduct Authority (FSCA) of South Africa oversees the non-banking financial services industry and supervises such providers on an on-going basis to ensure that they comply with the duties imposed by the Act. FSCA is responsible for:

• Promoting and maintaining sound financial investments for South Africans.
• The approval of mandates and application forms for discretionary FSPs and Administrative FSPs.
• Taking the necessary regulatory action against non-compliant entities or persons (suspension or withdrawal of licences).
• Conducting onsite visits to FSPs and compliance officers.
• Receiving and analysing financial statements and compliance reports.