SFC Sets Standards for Leveraged Foreign Exchange Traders Effective 1 January 2021
The Securities and Futures Commission (the SFC) published a Circular to Licensed Corporations and Report on Leveraged Foreign Exchange Trading Activities Carried Out by Licensed Corporations (the Leveraged Foreign Exchange Trading Report) on 9 April 2020. The Leveraged Foreign Exchange Trading Report sets out the findings of a survey of leveraged foreign exchange trading (LFET) activities conducted by 32 Type 3 licensed firms during 2018 who together accounted for 77% of market turnover and 41% of all active LFET clients. It also includes expected regulatory standards for leveraged foreign exchange traders which must be complied with by 1 January 2021. Read More…