Illustration photo of EMXpro logo.
Emperor Group, a Hong Kong-based diversified group of companies founded by Albert Yeung, is launching a new FX brokerage unit licensed in Saint Vincent and the Grenadines. Branded as EMXpro, the emerging broker is part of the Emperor Financial International (EFI), one of the core businesses of Emperor Group.
The reason for Emperor’s move to set up an offshore shop in Saint Vincent and the Grenadines is not clear. Yet, the company may be looking for more flexible jurisdictions to diversify their revenue stream and allow its clients to enjoy the benefits of more favorable trading conditions where regulation is not as strict as in Hong Kong.
Saint Vincent and the Grenadines (SVG) has generally had one of the laxest regimes when it comes to regulating and licensing the online trading firms. The SVG’s legal framework is similar to the situation in the Marshall Islands, where there was little regulation or licensing requirements for FX brokers, other than requiring them to list in the country’s companies register.
The financial watchdog of Saint Vincent and the Grenadines, however, recently announced that it is planning on establishing its own financial license, demanding brokers wanting to offer trading services from SVG to secure regulatory approvals before starting up their operations in the country.
For more information please refer to the original article:https://www.financemagnates.co...
09 Nov 2020, 10:58 を編集しました
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