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Why Poland's law changes concerns FX brokerages?

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asked Apr 19 in Forex by adalbart (2,270 points)

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answered Apr 19 by asha (1,990 points)

The biggest change concerns the Act on Trading in Financial Instruments and specifically aims at halting the activities of unregulated entities that offer investment services to Polish residents. The amendment stipulates that to operate as a brokerage, a company should either have authorization as an investment company in Poland or as an investment company agent in Poland. This rule is set to bring to a halt the activities of entities that offer investment services on behalf of companies registered overseas and that do not have a registered branch in Poland.

The Polish regulator also hopes that the new requirement will bring to an end the practices of aggressive Forex marketing, which are often exercised by unregulated entities. The changes are also expected to terminate the activities of entities providing misleading information to newbie traders.

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