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forex regulatory, forex regulation, forex regulatory organizations and agencies

DFSA

2003
Forex Supervision
Government
N/A

Dubai is the capital of the Emirate of Dubai and has become a global city and business hub for the Middle East. In 2004, a special economic zone is located in the city known as the Dubai International Financial Centre (DIFC). Then a financial regulatory agency of the zone called the Dubai Financial Services Authority (DFSA) came into existence. Notably, the jurisdiction of DFSA covers only the territory of the Dubai International Financial Centre, providing a regulatory environment of international standards. The DFSA's regulatory mandate includes asset management, banking and credit services, securities, collective investment funds, custody and trust services, commodities futures trading, Islamic finance, insurance, an international equities exchange, and an international commodities derivatives exchange. In addition to regulating financial and ancillary services, the DFSA is responsible for supervising and enforcing anti-money laundering (AML) and counter-terrorist financing (CTF) requirements applicable in the DIFC. Dubai only allows DFSA Forex brokers to conduct financial activities in the entire UAE. However, Dubai does offer an opportunity for investors to set up a business in DIFC for providing services to a global audience. Therefore, it is possible for brokers to set up their brokerage in Dubai without being regulated by the DFSA. In such an instance, investors are not protected by any regulatory laws or supervisions that are usually available with DFSA regulated broker. Consequently, several investors had faced problems with Dubai-based brokers and were victims of numerous frauds and financial scams. It should be mentioned that the problem only exists with non-regulated brokers, as all DFSA regulated Forex brokers do not indulge in any scams due to regulatory backlash from the DFSA and authorities.

forex regulatory, forex regulation, forex regulatory organizations and agencies

Labuan FSA

1995
Forex Supervision
Government
N/A

The Labuan International Business and Financial Center is a special economic zone which was created by the Malaysian government in 1990. It is based on the island of Labuan, which lies off the Borneo coast. Such an excellent location provides the centre with a unique position for tapping Asian investment opportunities. It shares a common timezone with a number of larger Asian cities, is located between India and China, and is in close proximity to a few other financial centres. The Malaysian government has designated it as a financial centre and a free trade zone. Aside from its great location there are a number of other reasons brokers are choosing to set up on the island rather than the Malaysian mainland. Business set-up costs are much lower than on the mainland, and there is a lower tax structure for investors. Its close proximity to a number of other emerging powers is also a valid reason for the location being very attractive. It does, however, face competition from locations such as Singapore and Hong Kong The regulatory authority in the Labuan International Business and Financial Center is left to the LFSA (Labuan Financial Services Authority). All IBFC brokers and financial services providers have to be licensed, and are regulated by the LFSA. You won’t have to worry because the imposed standards are in line with recognised global regulations, including minimum capital requirements and operational compliance. In 1996, the Labuan Financial Services Authority Act was passed, and the LFSA was created. It was tasked with developing and managing the IBFC. Its aims are as follows: To promote and develop the island of Labuan as an international financial services and business centre To develop objectives, priorities, and procedures that are in keeping with national ideals in relation to the administration of business and financial services and their systematic development To act as the central regulator, supervisor, and enforcement authority for international financial and business services. The Labuan Financial Services Authority is responsible for regulating and licensing all LFSA entities, and ensuring that they conduct business in a fair and transparent manner.

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SGE

2002
Foreign exchange not supervised
Private
N/A

The Shanghai Gold Exchange (SGE) is a financial market approved by the State Council and established by the People's Bank of China to specialize in the trading of precious metals such as gold. It was officially launched in October 2002. Her establishment has realized the marketization of China's gold production, consumption, and circulation system, and is an important symbol of the opening of China's gold market. Nature Self-regulatory agency History Since its establishment 15 years ago, the SGE has always adhered to the principle of serving the real economy and industrial development, striving to provide investors with richer investment channels, and has gradually developed into the core and hub of the Chinese gold market, as well as an important precious metals (gold, silver, platinum, etc.) trading market on a global scale. Since 2007, the SGE's trading volume has ranked first among the world's gold spot trading floors for 10 consecutive years. As of the end of 2017, the SGE had 253 members, including 165 domestic financial and comprehensive members, 19 special members, and 69 international members which are all well-known international banks, gold groups and investment institutions. There were 12,269 institutional customers and 9,312,200 personal customers. The SGE has established a multi-level gold market system composed of bidding, inquiry, pricing, and leasing markets, integrating the domestic main board market and the international board market. Contact Telephone: 021-33189588 Fax: 021-33662058 E-mail: sge@sge.com.cn Address: Number 99 Henan Middle Road, Huangpu District, Shanghai Postcode: 200001