If one walked onto the ground floor of the iFX EXPO International expo in Limassol’s lush Mediterranean city of dreams, one might be forgiven for doing a double take at a booth that sounds a lot like the old Sesame Street song, “He Wasn’t Like the Others.”
While the hall was a sea of liquidity providers, brokers, payments, etc., the Seychelles Financial Services Authority (FSA) sat: business cards stacked, actors in suits and flyers at the ready.
Their presence in the heart of European regulation, just an hour and some change by car from CySEC headquarters, has not gone unnoticed.
Good outdoor plan
The numbers tell a compelling story. According to data from FM IntelligenceThe Seychelles regulatory body has issued 1,042 licences, of which a large portion (446) are specifically in capital markets and trading.
For retail brokers in attendance, large, small and everything in between, the Seychelles FSA License (formally Securities Dealer License) has become one of the preferred offshore schemes in the industry.
However, it is not the only external plan. Mauritius, in particular, was like that Increasingly positioning itself as an attractive position for brokers, driven by low banking and payment friction coupled with a supportive regulatory environment.
In this context, the Free Syrian Army flank may seem less intriguing and more like a strategic location. After all, this is not the first time the organizer has been present at an iFX Expo event.
muck
This year’s iFX Expo He was brimming with energy that made conversation a loud exercise.
In the midst of the crowd, it is certain that not everyone passing through the cabin was being organized by the Free Syrian Army. It doesn’t take much of a leap if we consider that the regulatory body did not travel nearly 5,000 kilometers to the sunny shores of European industry just to engage with existing licensees.
Even in an era dominated by artificial intelligence, one of the fundamental truths of the financial services industry still stands: putting a face to a name is still the most powerful move on Earth.
This applies to the broker, the bank, the payment services provider, and obviously the regulator.
This article was written by Adonis Adoni at www.financemagnates.com
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