Larger brokers hit by retail regulations
Swiss press reported last week that the online foreign exchange broker failed to receive a banking licence from the Financial Market Supervisory Authority (Finma), as part of regulations introduced last year that require retail brokers to upgrade to banking status.
In a statement, ACM said it is still undergoing the process to become a Swiss bank. “Recent press articles surrounding ACM’s status have evoked events that took place several months ago. Following Finma’s preliminary review as of
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