FinanceMagnates
South Africa’s Trading Signal Providers Must Be LicensedIn its first-ever administrative action, South Africa’s Financial Sector Conduct Authority (FSCA) imposed an administrative penalty of over 1 million rands (about US$57,000) on an individual for providing forex trading signals without a financial services provider license and also debarred him for ten years.The regulator clarified that “the practice of providing or publishing signals with reference to online trading in financial products falls within the definition of financial services in the FAIS Act…
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Weekly Brief: South Africa Curbs FX Signals, Germany to Repeal CFD Tax Law, and More
Jared Kirui
20:35
South Africa’s Trading Signal Providers Must Be LicensedIn its first-ever administrative action, South Africa’s Financial Sector Conduct Authority (FSCA) imposed an administrative penalty of over 1 million rands (about US$57,000) on an individual for providing forex trading signals without a financial services provider license and also debarred him for ten years.The regulator clarified that “the