The Vanuatu offshore zone adopts stricter forex regulations

Discussion in 'Wall St. News' started by mlawson71, Mar 7, 2019.

  1. mlawson71

    mlawson71

    The financial regulator in Vanuatu tightens its requirements for all retail forex brokers, registered on the atoll.

    The new regulations come after in 2016 the local Vanuatu Financial Services Commission (VFSC) imposed a minimum capital requirement of 50,000 USD for all retail brokers under its jurisdiction.

    Now VFSC adds to the capital requirement a structural one – all regulated brokers should maintain a physical presence on the island – they should open an office there and have a local director.

    Other measures include some restrictions regarding the crypto offerings.

    And if you're wondering how these regulations are considered "strict" in any way, in comparison their old minimum capital requirement was just 2,000 USD.

    Either way, I wouldn't touch a company registered there with a ten-foot pole.