ZCZC
BCN-09
RUSSIA-BANK-FOREX
Forex dealers with canceled licenses expelled from SRO
MOSCOW, December 29, 2018 (BSS/TASS) – Five forex dealers with licenses
canceled by the Bank of Russia were expelled from the self-regulated
organization Association of Forex Dealers (SRO AFD), the Association says on
Friday.
“SRO AFD expelled companies with revoked licenses from December 28 in
accordance with laws. Nevertheless, SRO AFD will continue interaction with
these companies for the purposes of providing them with legal and other
support for correct completion of work to the extent possible,” the
Association said. Decisions of the Bank of Russia can be disputed in court,
it noted. The Association is currently clarifying circumstances leading to
the regulator’s decision.
“Clients of forex dealers will be able to close all opened positions and
withdraw money from nominal accounts,” the Association said.
It was reported earlier that the Russian Central Bank revoked licenses of
five largest Russian forex dealers – Forex Club, Fix Trade, Trustforex,
Alpari Forex and Teletrade Group. Licenses are revoked starting from January
27, 2019. At the same time, the Central Bank canceled qualification
certificates of supervisors and general directors of these companies.
The regulator thus canceled licenses of five out of the nine Russian forex
dealers. Alfa-forex, VTB-forex, PSB-forex and Finam-forex remain on the
market.
BSS/TASS/HR/1015