Forex Brokers’ FCA Authorisation Solutions | Pre-licensing Assessment | Application Management | Post-licensing Risk and Compliance Solutions

We offer a comprehensive set of solutions to help you obtain and maintain an Forex Brokers’ FCA Authorisation, tailored to:

• your business goals and objectives
• your client demographics
• your countries of operation
• the size of your business
• the available human and technology resources
• your risk appetite
• your governance structure
• the products that you offer
• FCA regulated forex brokers’ obligations covering risk and compliance management under financial laws and regulations, the applicable financial licensing requirements, AML/CFT laws, privacy laws, consumer protection laws, and more

We have designed our financial licensing solutions to help you navigate the complexities of the UK forex brokers’ authorisation regime in a commercially oriented and goal-focused manner, providing effective support for all stages of the UK forex brokers’ authorisation process, including but not limited to the following aspects:

• Forex Brokers' licence Guidance: Advising on a wide range of aspects associated with forex brokers’ FCA authorisation as it relates to your specific situation
• Pre-licensing assessment: Covering compliance gap analysis as well as risk and compliance assessment
• Pre-licensing support:
• Drafting the necessary policies and procedures to help you comply with the forex brokers’ FCA authorisation conditions and financial markets' regulations
• Developing internal controls to help you meet your obligations under the UK forex brokers’ authorisation regime
• Forex Brokers’ FCA Authorisation Application Support: Covering the entire licensing process
• Post-licensing Support: Covering
• Ongoing compliance advice
• Comprehensive second-line risk and compliance support, including leading the implementation of your risk management framework (RMF), compliance management framework (CMF), compliance monitoring program (CMP), compliance calendar and checklist, ongoing risk assessments, internal and external reporting, outsourced providers' management, and more
• AML/CFT advice
• AML/CFT compliance management
• Compliance assurance solutions, including compliance assurance program (CAP) development, implementation, and internal control testing

 

Jurisdictional Coverage of our Forex Brokers’ Authorisation Solutions

We can help you apply for an forex brokers’ FCA authorisation or its equivalents in the following jurisdictions:

• Australia: For more information on the Australian forex brokers’ FCA authorisation equivalent – the Australian Financial Services Licence (AFSL) for Forex Brokers, you can visit our Australian Forex Brokers’ Licence page.

• New Zealand: For more information on the New Zealand forex brokers’ FCA authorisation equivalent – Financial Service Provider (FSP) Registration for Forex Brokers, you can visit our New Zealand FSP Registration page.

• United Kingdom: For more information on the United Kingdom forex brokers’ FCA authorisation equivalent – FCA Authorisation for Forex Brokers under the Financial Services and Markets Act 2000 (FSMA), you can visit our UK Brokers’ Authorisation page.

• Singapore: For more information on the Singapore forex brokers’ FCA authorisation equivalent – Capital Markets Services (CMS) Licence for Forex Brokers, you can visit our Capital Markets Services (CMS) Licence page.

• Prominent Financial Centres and Offshore Tax Havens: We also offer UK forex brokers’ authorisation solutions for prominent financial centres and offshore tax havens, including but not limited to:

  • United States: Where forex brokers are regulated by the Commodity Futures Trading Commission (CFTC) under the Commodity Exchange Act and must obtain NFA Membership as Retail Foreign Exchange Dealers (RFEDs) or Futures Commission Merchants (FCMs).

  • Belize: Where forex brokers are regulated by the International Financial Services Commission (IFSC), requiring a licence under the IFSC Act.

  • Cyprus: Where forex brokers are regulated by the Cyprus Securities and Exchange Commission (CySEC), requiring a licence under the Investment Services and Activities and Regulated Markets Law.

  • Seychelles: Where forex brokers are regulated by the Seychelles Financial Services Authority (FSA), requiring a licence under the Securities Act 2007.

  • Mauritius: Where forex brokers are regulated by the Financial Services Commission (FSC), requiring an Investment Dealer Licence under the Securities Act 2005 and the Financial Services Act 2007.

  • Other jurisdictions with a regulatory regime for forex brokers.

 

Service Coverage

We offer comprehensive support for a wide range of Forex Brokers’ FCA authorisation applications tailored to meet the specific needs of the following businesses:

• Retail Forex Brokers
• Institutional Forex Brokers
• STP (Straight-Through Processing) Forex Brokers
• ECN (Electronic Communication Network) Forex Brokers
• Market Maker Forex Brokers
• Multilateral Trading Facilities (MTFs)
• Algorithmic and High-Frequency Trading (HFT) Forex Brokers
• Forex Introducing Brokers (IBs)

You can find more information about our forex brokers’ FCA authorisation solutions below:

 

UK Forex Brokers’ Authorisation Preparation

Pre-licensing Compliance Assurance

Our forex brokers’ FCA authorisation solutions cover the following focus areas:

• Compliance Goals Analysis: We review your business-specific goals and resources against the suitability criteria for an forex brokers’ FCA authorisation
• Initial Consultation: We provide guidance on potential risk and compliance issues that may arise during the UK forex brokers’ authorisation process
• Choosing the Right Jurisdiction: We assist in evaluating regulatory, risk, and compliance environments to determine the most suitable jurisdictions for your forex brokers’ FCA authorisation, tailored to suit your:

• business objectives,
• operational capacity,
• client base,
• markets of operations,
• and other relevant factors

• Gap Analysis: We identify gaps between your existing operations and regulatory requirements and help you align them in a commercially oriented manner
• Forex Brokers’ FCA Authorisation Application Plan: We help you establish a roadmap to effectively meet the forex brokers’ FCA authorisation requirements

 

 

FCA Forex Brokers’ Authorisation Guidance

Selecting the right compliance model is crucial not only for navigating the licensing process but also for maintaining ongoing compliance and avoiding potential breaches. Our UK forex brokers’ authorisation solution covers:

• Compliance Model Selection: To help you best comply with the UK forex brokers’ authorisation regime and related risk and compliance obligations.
• Corporate Governance Model Selection: We offer practical guidance on establishing effective corporate governance practices that support your risk and compliance oversight.
• Operations Model Advisory: We advise you on optimising your operational and governance models to help you efficiently comply with the UK forex brokers’ authorisation regime, keeping in mind your specific circumstances, available resources and business goals.

 

Entering FCA Regulated Environment

We help businesses transition from an unregulated environment to operating under the UK forex brokers’ authorisation regime, helping them meet their obligations as forex brokers’ FCA authorisation holders.

We also assist already regulated businesses in aligning their existing risk and compliance management structures with the UK forex brokers’ authorisation regime requirements.

Our focus areas for this service include:

• New businesses
• Existing forex brokers operating in unregulated markets
• Regulated forex brokers expanding into foreign jurisdictions
• Financial institutions and/or service providers with established risk and compliance frameworks seeking to introduce regulated custody services trading as a new product.

 

Multi-Jurisdictional Compliance

With years of experience managing risk and compliance obligations for businesses operating under multiple financial licences across various jurisdictions, we help businesses remain compliant with the forex brokers’ obligations globally.

 

Forex Brokers’ FCA Authorisation and Wholesale Markets

Getting an forex brokers’ FCA authorisation may not always be the best fit for all. For example, a retail market expansion may not always align with your goals or the products you offer.

Operating in the wholesale environment can sometimes be a more suitable option. We offer a wider range of risk and compliance management solutions to assist forex brokers that:

• Operate in the wholesale markets
• Operate under exemptions from the UK forex brokers’ authorisation regime
• Offer services to sophisticated, eligible, and wholesale investors

 

We help them comply with the regulatory compliance obligations that are not caught by the UK forex brokers’ authorisation regime, but that still have to be addressed and handled, including:

• Advertisement Rules
• Fair Dealing Regulations
• Risk Management
• Outsourced Providers' Oversight
• Restrictions on offering services to retail investors without a licence (an integral part of the UK forex brokers’ authorisation regime)
• Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) laws and regulations
• Data Management Laws and Regulations

 

Forex Brokers’ FCA Authorisation Application

We assist with your licence application through ongoing engagement in the UK forex brokers’ authorisation process:

• Document Compilation and Review: We compile and review all required supporting documents to support your forex brokers’ FCA authorisation application.
• Application Form Completion: We help you complete the forms so that all material information is accurate and complete.
• Pre-Submission Review: We can arrange a pre-submission review session with key stakeholders to ensure all parts of your application are understood and agreed upon. This session aligns application details with the actual situation, removing ambiguity.
• Regulatory Liaison: We manage the end-to-end submission process, maintaining clear and effective communication channels throughout the FCA licensing process.
• Timeline Management: We closely monitor and adhere to all necessary deadlines, providing timely updates and adjustments to keep the application process on track.

 

Resolving Forex Brokers’ FCA Authorisation Issues

Having competent compliance advisors is crucial when licensing issues arise. Therefore, our forex brokers’ FCA authorisation solutions include a range of services to address and resolve these issues effectively:

• Remediation Solutions for Forex Brokers' Licence Applicants: We address and remediate risk and compliance issues identified by regulators, helping your operations align with UK forex brokers’ authorisation regime requirements.
• Specific Licence Conditions Compliance: We can help you manage additional conditions imposed on your forex brokers’ FCA authorisation, developing a tailored action plan to maintain compliance and facilitate the eventual removal of these conditions with minimal disruption to your business operations.
• Licensing Issues Handling: We address common licensing issues encountered during the UK forex brokers’ authorisation process, providing you with solutions to navigate and resolve these challenges efficiently.
• Further Information: You can visit our Compliance Remediation Solutions page for more information.

 

Post-Licensing Support

We offer a full range of ongoing risk and compliance solutions for licensed forex brokers. Our services include, but are not limited to:

Ongoing Risk and Regulatory Compliance

• FCA Regulated Forex Brokers’ Obligations Guidance: We can advise your risk, compliance, management and other teams on meeting the requirements of the UK forex brokers’ authorisation regime and other regulatory compliance obligations. You can visit our Compliance Consultancy Service page for more information.
• Regulatory Risk and Compliance Management: We provide dedicated compliance managers to manage your overall compliance. For more information, visit our Specialised Compliance Management Solutions page for Forex Brokers.
• Compliance Assurance Solutions: As part of our compliance assurance solutions, we offer:
• Compliance Assurance Program (CAP) development and testing options
• Internal Controls Design option
• Internal Controls Testing option
• Internal AML/CFT Review option
• Statutory AML/CFT Audit option
• Compliance Training Solutions: We offer training programs to different teams on complying with:
• FCA Regulated Forex Brokers’ obligations for risk and regulatory compliance management. You can visit our Compliance Training page for more information.
• UK Forex Brokers’ AML/CFT obligations and operational best practices for fraud prevention. You can visit our AML/CFT Training page for more information.
• Crisis Management Planning: We can develop proactive strategies to manage potential compliance crises effectively.
• Anti-Money Laundering (AML) and Counter Terrorist Financing Solutions: We provide a full range of AML/CFT solutions for forex brokers. For more information, visit our Specialised AML/CFT Solutions page for forex brokers.
• Advanced Compliance Technologies: We can assist you with selecting and integrating advanced technology solutions, such as compliance automation tools and regulatory technology (RegTech), to streamline compliance processes without disrupting operations.
• Risk and Compliance Framework Adjustments: Including adjustments to risk management frameworks (RMFs), compliance monitoring programs (CMPs), compliance management frameworks (CMFs), and other core procedures and policies to align them with:
• new business goals
• regulatory changes
• changes in your operations
• evolving market conditions
• changes in stakeholders’ risk appetites (your banking partners, insurance companies, liquidity providers, etc.).

 

 

Risk and Compliance Obligations for Forex Brokers’ Licence Holders

Forex brokers' licence holders are subject to various obligations set out in applicable laws and regulations. They are also expected to uphold standards for their conduct and internal operations, as outlined in regulatory guidance or accepted industry practices.

We can help you address these obligations and expectations through comprehensive support in the different areas. The list below is not exhaustive:

Forex Brokers’ Licence and Regulatory Compliance Obligations

• Compliance Management Systems: We can help you establish effective compliance programs, compliance monitoring plans, controls testing methodologies, compliance calendars and more.
• Risk Management Frameworks: We can help you develop comprehensive risk management frameworks to fulfil the FCA regulated forex brokers’ obligations for identifying, assessing, and mitigating operational, regulatory, strategic, financial and other types of risks.
• Policy and Procedure Development: We can help you draft and implement policies and procedures aligned with the UK forex brokers’ authorisation requirements.
• Compliance Monitoring Plans: We can oversee the execution of your CMPs, covering ongoing monitoring of your compliance obligations under the UK forex brokers’ authorisation regime.
• Internal Control Testing and Compliance Assurance: We can conduct internal reviews and audits of your controls to test their effectiveness and compliance with the applicable regulatory standards.
• Capital Adequacy Requirements: We can help you implement controls to comply with capital adequacy requirements, helping your businesses meet the FCA regulated forex brokers’ obligations for maintaining required financial resources.
• Liquidity Management Requirements: We can assist you in developing controls to comply with liquidity management requirements.
• Financial Auditing Standards: We can assist in establishing procedures to help you comply with the audit and assurance requirements under the UK forex brokers’ authorisation regime.
• Automated Trading Regulations (where applicable): We can aid you in developing controls to meet automated trading regulations, including compliance with algorithmic trading rules and reporting requirements.
• Digital Payment Token Services (where applicable): We can assist in developing controls to comply with regulations for digital payment tokens, cryptocurrencies, and digital assets, including obligations under the UK forex brokers’ authorisation regime and AML/CFT requirements for transaction monitoring and reporting.

 

Forex Brokers’ Licence and Operational Oversight Obligations

• Oversight of Outsourcing: We can establish a set of effective controls to comply with the FCA regulated forex brokers’ obligations for overseeing outsourced services, also covering related obligations under AML/CFT compliance, ISO requirements, and more.
• Structures for Governance: We can help you establish effective governance structures to comply with the FCA regulated forex brokers’ obligations and develop an effective approach to overseeing your risk exposure and compliance status across different functions of your business.
• Senior Management Accountability: We can help you comply with the FCA regulated forex brokers’ obligations for senior management and key staff conduct and competence.
• Maintaining Operational Resilience: We assist in developing continuity plans to meet the FCA regulated forex brokers’ obligations for operational resilience, helping critical business services withstand disruptions.
• Managing Technology Risks: We provide guidance on technology risk management obligations under the UK forex brokers’ authorisation regime.

 

Forex Brokers’ Licence and Market Integrity/Transparency Requirements

• Standards for Market Conduct: We can help you implement controls for FCA regulated forex brokers’ obligations to maintain fair and transparent market conduct, including preventing manipulation and insider trading.
• Principles for Fair Treatment: We can help you implement controls to comply with expectations that cover adherence to principles of fair treatment and transparent communications with clients.
• Standards for Conduct and Disclosure: We can help you comply with UK forex brokers’ authorisation standards for conduct and disclosure.
• Product Suitability and Governance: We can establish tailored controls to help the FCA regulated forex brokers’ obligations comply with product suitability and governance obligations, including risk management and governance arrangements across the product life cycle.
• Protection of Client Assets: We can help you comply with FCA regulated forex brokers’ obligations to protect and segregate client assets.
• Resolution of Disputes: We can help you establish effective mechanisms for dispute resolution and complaints management, particularly for retail clients.

 

Forex Brokers’ Licence and Resource Management Obligations

We can help you comply with the following requirements of the UK forex brokers’ authorisation regime:

• Adequacy of Resources: Covering financial, technological, human and other resources.
• Competence of Professionals: Covering key personnel, their necessary skills, knowledge, and professional competence.
• Our focus areas include:
• Assessment and Gap Analysis: We can help you evaluate the adequacy of your financial, technological, and human resources against the requirements of the authorisation regime.
• Resource Allocation Plans: We can help you develop strategies to optimise resource allocation, covering sufficient capacity for compliance, trading, operations, banking, customer support and other functions and departments.
• Technological Solutions: We can recommend and implement RegTech tools to streamline compliance processes, such as transaction monitoring, reporting, and audit trails.
• Key Personnel Assessment: We can help you assess the skills, qualifications, and experience of key personnel to identify areas for improvement.
• Training and Development Programs: We can design and deliver targeted compliance training programs to upskill personnel in compliance, risk management, and compliance regulations.
• Compliance Monitoring: We can help develop controls to monitor representatives' adherence to conduct and disclosure obligations.
• Ongoing Training: We can help you create a framework to support continuous education for advisors and representatives on authorisation obligations, market integrity, and client interaction standards.
• Regulator Liaison: We can act as an intermediary with regulators to address queries and help you demonstrate compliance with resourcing obligations.

 

Forex Brokers’ Licence and Reporting

• Regulatory Reporting: We can help you prepare and submit periodic and ad-hoc reports covering:
  • FCA regulated forex brokers’ obligations
  • UK forex brokers’ AML/CFT obligations (SMRs, STRs, SARs, cross-border transaction reports, cash transaction reports, and other reporting obligations)
  • FCA Regulated forex brokers’ obligations under financial market conduct regulations
  • Specific transaction reporting to relevant depositories
• Compliance Documentation: We can help you develop and maintain the necessary documentation to meet record-keeping obligations under various laws and regulations.
• Audit Readiness: We can prepare you for audits and reviews to demonstrate compliance with regulatory requirements, provisions of the UK forex brokers’ authorisation regime, applicable operational standards, and more.

 

Related Services

We assist in obtaining Forex Brokers’ FCA Authorisation equivalents in the following jurisdictions:

• Australia: For more information on the Australian equivalent of a Forex Broker’s FCA Authorisation, the Forex Broker’s AFSL, you can visit our Australian Forex Brokers' AFSL page.
• Singapore: For more information on the Singaporean equivalent of a Forex Broker’s FCA Authorisation, the Singaporean forex broker’s licence, you can visit our Singaporean Forex Broker’s Licence page.
• New Zealand: For more information on the New Zealand equivalent of a Forex Broker’s FCA Authorisation, the Forex Broker’s FSP registration, you can visit our New Zealand Forex Brokers’ FSP Registration page.
• Other Jurisdictions: We also offer licensing solutions for forex brokers in prominent financial centres and offshore tax havens, including but not limited to:

• Cyprus
• Belize
• Mauritius
• Seychelles
• United States