Ten Swiss brokers licensed as banks

- Gail Mwamba
- 08 Jun 2009

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BERN - Ten foreign exchange brokers have received banking licences in Switzerland, enabling them to continue operating in the country's retail foreign exchange market, according to a senior official at the Swiss Financial Market Supervisory Authority (Finma).

The brokers are the first batch to receive authorisation since the law requiring forex brokers to become licensed banks to continue operating in the country was passed in April last year (FX Week, April 14, 2008). Brokers had until April 1

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