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#1 11-07-2020 09:44:30

johnedward
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Pepperstone seeking CySEC licence amidst Brexit mess

Pepperstone seeking CySEC licence amidst Brexit mess


http://www.forex-central.net/img/logos/pepperstone-logo.jpg
Australia's Pepperstone brokerage firm is in the process of securing a license from the CySEC (Cyprus Security and Exchange Commission).

Although Pepperstone has not been able to provide too much detail yet, the company confirms that the new license is part of the firm's Brexit plan.

Pepperstone is currently regulated in the Bahamas by the SCB, in the UAE by the DFSA, in the United Kingdom by the FCA and in Australia by the ASIC.

Pepperstone is already present in Cyprus, but the group currently offers its services in Europe via its FCA license, which, thanks to the Brexit transition period, is still valid throughout Europe.

Until now, forex brokers regulated by the FCA could offer their services in European countries. However, with Brexit about to change all that, more brokers have obtained European licenses so that their activities can operate without interruption once the UK has left the Union.

In Australia, the broker's local regulator is also seeking to set up its own intervention measures on products that could limit leverage.

Pepperstone has criticised the proposed regulation, though, saying that the proposed restrictive measures would stifle innovation in Australia.

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