NYSE has obtained the most authoritative regulatory license!
On October 24, 2017, NYSE group company officially obtained the regulatory license issued by Latvian financial and capital market committee. The company submitted its application on December 29, 2016, and received the GMod news recently. The license allows NYSE to provide services to customers from Latvia, as well as other countries. The company also plans to expand its business to other EU member states in the future.
Financial Services Authority (FSA)
On April 1, 2013, the Financial Services Authority (FSA) announced on its official website that the Bank of England (the Bank of England) has set up a new financial policy committee (FPC) as a macro Prudential regulator, which is responsible for monitoring and responding to system risks; meanwhile, the FSA will be divided into two new regulators, the financial conduct authority (FCA) and the Prudential Regulation Authority (PRA).
MiFID has been applied throughout the European Union since November 2007. It is the cornerstone of EU financial market regulation, aiming to improve the competitiveness of EU financial market by creating a single market for investment services and activities, and to ensure a highly coordinated protection of financial instruments for investors. Obviously, MiFID has a wider scope, more strict qualification review, let alone a more complete upgraded version of MiFID II. It is the so-called "no compromise", for individuals, and for enterprises. Under the supervision of multi-national regulatory agencies, gmmarks will improve itself more and more, and strive to provide customers with a safer, more professional, more transparent and more stable trading environment for individual stock options!
EEA authorizes companies to operate through EEA passes: all EEA countries (including EU countries as well as Iceland, Liechtenstein and Norway) (EEA) are part of the EU single market and are therefore subject to MiFID act. One of MiFID's provisions is to allow an investment company authorized by any EEA country to provide certain investment services or carry out certain investment activities in another EEA country without additional authorization from other EEA national regulators, which is called "pass". This right applies only to the EEA. At present, the company is preparing for business activities, which will be carried out in the context of compliance with EU and Latvian laws and regulations. This also includes the revised EU financial instrument market guidance (MiFID II) and the EU financial instrument market regulation (MiFIR), which will enter into force on January 3, 2018. NYSE is expected to have its first customers early next year. Now the company is strengthening its team and actively preparing its office in Riga.
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