Tag: Razi Sahli

Offshore onboarding to circumvent ESMA and FCA guidelines is still a big issue for European regulators. Especially CySEC has had a problem with this approach for years, as FinTelegram has pointed out repeatedly. A.N. All News Investments Ltd d/b/a LegacyFX is one of those CySEC-regulated CIFs that works with offshore mutations to solicit clients in Europe. AN All New Investments (VA) Ltd in Vanuatu is their offshore broker. However, all card transactions of this offshore broker are processed by the CySEC-regulated entity. Here is an update!

Offshore onboarding to circumvent ESMA and FCA guidelines is still a big issue for European regulators. Especially CySEC has had a problem with this approach for years, as FinTelegram has pointed out repeatedly. Most recently, in a new review of CYSEC-regulated FXORO, we found that the CIF continues with offshore onboarding of European retail investors systematically in violation of regulatory requirements, as does LegacyFX.