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Central Bank of Armenia (CBA)
Official Website

The Central Bank of the Republic of Armenia, in pursuit of being recognized as a prestigious, transparent, independent, knowledge-sharing and effective entity, as well as by virtue of:

  • the Republic of Armenia Constitution;
  • objectives conferred to it under the Republic of Armenia Law on the Central Bank;
  • best international experience for sustainable economic development and an outlook for European integration;
  • the wish to play a key role in provision of financial services at a regional level;
  • development trends and best international experience for central banks as crucial institutional units  

 outlines the development of the potential of the Central Bank and mobilizes resources in the following directions:

  1. Monetary policy
  2. Financial system stability and development
  3. Statistics 
  4. Payment and settlement system and cash money cycle 
  5. Institutional development of the Central Bank 


Australian Securities and Investments Commission (ASIC)
Official Website

ASIC is Australia’s corporate, markets and financial services regulator.

ASIC contribute to Australia’s economic reputation and wellbeing by ensuring that Australia’s financial markets are fair and transparent, supported by confident and informed investors and consumers.


Securities Commission of The Bahamas (SCB)
Official Website

The Securities Commission of The Bahamas (“the Commission”) is a statutory body established in 1995 pursuant to the Securities Board Act, 1995. That Act has since been repealed and replaced by new legislation. The Commission’s mandate is now defined in the Securities Industry Act, 2011 (SIA, 2011). The Commission is responsible for the administration of the SIA, 2011 and the Investment Funds Act, 2003 (the IFA), which provides for the supervision and regulation of the activities of the investment funds, securities and capital markets. The Commission, having been appointed Inspector of Financial and Corporate Services effective 1 January 2008, is also responsible for administering the Financial and Corporate Service Providers Act, 2000.

To effectively oversee and regulate the activities of the investment funds, securities and capital markets, to protect the investors while strengthening the public and institutional confidence in the integrity of those markets.


National Bank of the Republic of Belarus (NBRB)
Official Website

The National Bank of the Republic of Belarus (hereinafter referred to as the "National Bank") is the central bank and a government agency of the Republic of Belarus operating exclusively in the interests of the Republic of Belarus.

In performing its activities, the National Bank shall be guided by the Constitution of the Republic of Belarusthe Banking Code of the Republic of Belarus , laws of the Republic of Belarus, regulatory legal acts of the President of the Republic of Belarus, and the Statute of the National Bank of the Republic of Belarus  and shall be independent in its activities.

The National Bank is a legal person having its seal with the State Coat of Arms of the Republic of Belarus and an inscription "Национальный банк Республики Беларусь" (National Bank of the Republic of Belarus).

The main objectives of the National Bank shall be as follows:

  • ensuring price stability;
  • maintaining the stability of the banking system of the Republic of Belarus;
  • ensuring efficient, reliable, and secure functioning of the payment system.


Belize Financial Services Commission (FSC Belize)
Official Website

The Financial Services Commission (FSC) is the regulatory body for non-bank financial services in Belize, particularly for those services provided by entities licensed or registered under the Financial Services Commission Act, Cap. 272 Revised Edition 2020 and the Securities Industry Act, 2021 (SIA).

We are an independent self-financing statutory body that provides service oriented, continuous, risk-based approach regulation, that is built on integrity, accountability, adaptability & reliability.


Central Bank of Brazil (Bacen)
Official Website

In 1964, the Banking Law (No. 4,595) created the National Monetary Council (CMN) — as the highest macroeconomic and financial regulatory authority — and the Central Bank of Brazil (Banco Central do Brasil - BCB).

Under this institutional framework, BCB performs its functions as monetary, regulatory and supervisory authority in accordance to guidelines issued by the CMN. It is worthy to highlight that the BCB’s Governor has one of three votes in every deliberation of the CMN.

To ensure the stability of the currency purchasing power, to foster a sound, efficient and competitive financial system, and to promote the economic well-being of society.

With regard to price stability, the BCB considers that the best contribution of monetary policy to sustainable economic growth, low unemployment and improvement in people’s living conditions is keeping inflation low, stable and predictable — in consonance with the international and domestic experiences.

In parallel, BCB defines financial stability as the regular operation, over time and in any economic scenario, of the system responsible for the financial intermediation among households, non-financial corporations, and the government.

The BCB's regulatory prerogative as financial supervisor is shared with the Brazilian Securities Commission (CVM), in conformity with their respective regulatory scopes.

British Virgin Islands

British Virgin Islands Financial Services Commission (BVI FSC)
Official Website

The BVI Financial Services Commission is the Territory's single financial services Regulator.

We are the agency responsible for authorising and licensing companies or persons to conduct financial services business and for monitoring the perimeter of regulated financial services activity to safeguard the public against any illegal and or unauthorised financial services business operating in or from within the BVI.


Bulgarian Financial Supervision Commission (FSC BG (MiFID))
Official Website

The primary mission of the institution is to assist through legal, administrative and informational means for the maintenance of stability and transparency on the non-banking financial sector, and to ensure the protection of the consumers of financial services.

Bulgarian National Bank (BNB (MiFID))
Official Website

The BNB’s major objective is to maintain price stability by ensuring the stability of the national currency. The Bank supports the creation and functioning of efficient payment systems and exerts oversight over these.


Securities and Exchange Regulator of Cambodia (SECC)
Official Website

The Vision of SECC
Securities and Exchange Commission of Cambodia (SECC) is established under the law on The Issuance and Trading of Non-Government Securities (Preah Reach Kram No NS/RKM/ 1007/028). SECC regulates the securities industry in Cambodia to contribute to socio-economic development through capital mobilization from public/ securities investors to meet the demand of financing for investors.

The Missions of SECC are to:

  1. Develop and maintain the confidence of public investors in the Kingdom of Cambodia by protecting their lawful rights and ensuring that the offer, issue, purchase and sale of securities are carried out in a fair and orderly manner;
  2. Promote the effective regulation, efficiency and orderly development of the securities markets;
  3. Encourage the varieties of saving tools through buying of securities and other financial instruments;
  4. Encourage foreign investment and participation in the securities markets in the Kingdom of Cambodia; and
  5. Assist in facilitating the privatization of state-owned enterprises in the Kingdom of Cambodia.


Investment Industry Regulatory Organization of Canada (IIROC)
Official Website

IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of dealer firms and their registered employees and through setting and enforcing market integrity rules regarding trading activity on Canadian equity marketplaces.

To fulfill our mandate as a national self-regulatory organization, we must act with integrity, transparency and fairness.

British Columbia Securities Commission (BCSC)
Official Website

The BCSC is a state-run corporation able to control and govern a dynamic market due to its self-sufficiency and adjustability. Being one of the governmental agencies we report to the Legislature via the minister that bears responsibility for the Securities Act administration. BCSC’s self-financing signifies that not ratepayers but the participants of the market bear the securities regulation cost.

BCSC incurs a liability for the regulation of securities in British Columbia commerce via the Securities Act administration.

Public interest protection and promotion is BCSC main goal which can be achieved only by cultivating the following ideas:

  • A fair and transparent securities market that guarantees public certainty and trust
  • Creating securities industry characterized by competiveness and dynamics and thus providing vast opportunities for investors with their capitals.
Ontario Securities Commission (OSC)
Official Website

All the capital markets of Ontario including equities, derivatives markets and fixed income are liable to the regulation by the OSC. Being a self-financed organization, the OSC is at the same time a state-run agency. It means that this commission is responsible vis-a-vis the Legislature of Ontario via the Minister of Finance.

Both the Commodity Futures Act and the Securities Act of the given province are administered and enforced by this regulatory body. The Business Corporations Act, and more exactly some of its provisions, is controlled and regulated by the OSC too.

According to the legislation the OSC’s duties are set out in the following areas:

  • The development and enforcement of rules helping in investment safeguarding
  • The misconduct discouragement and prevention
  • The cultivation of fairness and integration at capital markets
  • The fosterage of public certainty and trust in the markets.

Cayman Islands

Cayman Islands Monetary Authority (CIMA)
Official Website

To protect and enhance the reputation of the Cayman Islands as an International Financial Centre by fully utilising a team of highly skilled professionals and current technology, to carry out appropriate, effective and efficient supervision and regulation in accordance with relevant international standards and by maintaining a stable currency, including the prudent management of the currency reserve.

Cook Islands

Financial Supervisory Commission of Cook Islands (FSC Cook Islands)
Official Website

The Financial Supervisory Commission (FSC) came into existence in the Cook Islands on 1 July 2003, replacing the former Off-shore Financial Services Commission. The Financial Intelligence Unit (FIU) merged with the FSC on 1 July 2012. 

The vision of the FSC is: To be a financial regulator that is committed to excellence, integrity and supportive of growth and development of the Cook Islands financial services centre.

The mission statement of the FSC is: To oversee an effective and efficient prudential and investigative supervision regime applying risk-based, and intelligence-led, policies in line with internationally accepted best practice.

FSC Cook Islands:

  • Is an independent body responsible for the supervision of regulated financial entities and financial services in the Cook Islands;
  • Comprises the Board, the Commissioner, the Head of the FIU and its staff, supervisory staff and the Registrar of International Companies and International Trusts;
  • Is the licensing authority for all financial institutions being banks, insurers (including captives), money-changing and remittance businesses and trustee companies;
  • Operates the Registry of International & Foreign Companies, Limited Liability Companies, International Trusts, International Partnerships and Foundations. 


Central Bank of Cyprus (CBC (MiFID))
Official Website

Safeguarding the stability of the financial system constitutes one of the main tasks of the Central Bank of Cyprus, which contributes towards achieving this objective, inter alia, through the conduct of micro-prudential supervision of the banking system.

Cyprus Securities and Exchange Commission (CySEC (MiFID))
Official Website

The Cyprus Securities and Exchange Commission (CySEC) is the independent public supervisory Authority responsible for the supervision of the investment services market and transactions in transferable securities carried out in the Republic of Cyprus.

CySEC is to exercise effective supervision to ensure investor protection and the appropriate development of the securities market.

Cyprus Securities and Exchange Commission (CySEC MiFID-STP)
Official Website

The Cyprus Securities and Exchange Commission (CySEC) is the independent public supervisory Authority responsible for the supervision of the investment services market and transactions in transferable securities carried out in the Republic of Cyprus.

CySEC is to exercise effective supervision to ensure investor protection and the appropriate development of the securities market.


Danish Financial Supervisory Authority (FSA DK (MiFID))
Official Website

The Danish FSA’s main mission is to carry out the supervision of various financial ventures such as banks, superannuation funds, mortgage-credit institutions and insurance companies. Solvency supervision is one the basic priorities of this regulatory body. This supervisory activity means that all the financial ventures have to possess their own adequate funds in order to cover all their risks.

So all the Danish securities markets are controlled by this organization. It supervises as well if the given undertakings fulfill their duties and obligations concerning all the relevant information publication (prospectuses, internal knowledge etc.). At last, all the cases of market abuse are also prosecuted by the Danish FSA. Apart from a supervisory activity itself, this regulator performs as a collector of key statistics and as an assistant in financial legislation drawing up.


Financial Services Unit of the Ministry of Finance Dominica (FSU Dominica)
Official Website

The Financial Services Unit Act, 18 of 2008, (PDF 83.14KB) was passed in the House of Assembly on 14 October, 2008, Gazetted on 18 December, 2008 and came into force on 1 January, 2009. This Act formally established the Financial Services Unit as a regulatory authority.

An amendment to this Act [Financial Services Unit (Amendment) Act, 10 of 2011] (PDF 31.37KB), was passed in the House of Assembly on 25 October, 2011. The primary reason for the amendment was to allow the Unit to monitor and ensure compliance of commercial banks with money laundering prevention and counter-terrorism financing legislation and regulations.

The objectives of the FSU are spelt out in Section 4 of the FSU Act, 18 of 2008 (PDF 83.14KB), as follows:

  • Maintain the public’s confidence in the financial system;
  • Facilitate the deterrence of financial crimes;
  • Supervise financial services licensees in accordance with legislation, regulations and codes;
  • Ensure periodic evaluation of the legislative and regulatory framework in accordance with developments in the financial services sector;
  • Promote best practices, mutual assistance and exchange of information by maintaining contact and forging relations with foreign regulatory authorities, international associations of regulatory authority bodies or groups relevant to its functions;
  • Facilitate the development of the financial services sector.


European Securities and Markets Authority (ESMA)
Official Website

Since 1 January 2011 ESMA has been functioning instead of former CESR (the Committee of European Securities Regulators). The latter one, being an independent organization set by European Commission, gave birth to ESMA. Since then ESMA has made its contribution to the protection and support of the EU financial system stability.

Close cooperation with EBA, EIOPA and other organizations connected with the supervision in banking, insurance and pensions assures ESMA to foster harmonization both across financial segments and among securities regulatory bodies. But the main aim of ESMA remains unchangeable - to create and support proper functioning of securities markets. It signifies to provide markets with the unity, transparency, efficiency and fairness. Improvement and reinforcement of the investment sector is another ESMA priority.


Federal Financial Supervisory Authority (BaFIN (MiFID))
Official Website

The Federal Financial Supervisory Authority (BaFin) supervises banks/ financial services providers, insurance undertakings and securities trading.

BaFin operates in the public interest. Its primary objective is to ensure the proper functioning, stability and integrity of the German financial system. Bank customers, insurance policyholders and investors ought to be able to trust the financial system.


Gibraltar Financial Services Commission (GFSC)
Official Website

The Gibraltar Financial Services Commission regulates the financial services industry in Gibraltar.

Our aim is to protect consumers, enhance the reputation of Gibraltar as a quality financial services center and promote good business.

The GFSC supervises a broad range of firms including auditors, banks, company managers, e-money institutions, professional trustees, payment services providers, funds and fund service providers, insurance companies, managers and intermediaries, investment firms, and insolvency practitioners.

Firms that wish to do business in or from within Gibraltar must meet our standards and criteria both at application stage and on an on-going basis.

Our supervisory work focuses primarily on:

  • the way firms are operated and governed;
  • the identification of risks to consumers;
  • the reputation of the jurisdiction more generally.


The Hellenic Republic Capital Market Commission (HCMC (MiFID))
Official Website

HCMC (or Greek Capital Market Commission) is one of two regulatory bodies for the financial industry in Greece, the other being the National Bank of Greece.

HCMC is responsible for the surveillance of the proper application of capital market legislation. It participates decisively in the formation of the capital market regulatory framework, on a national, European and international level, and contributes actively to the operations of the Council of the European Union, of ESMA and of IOSCO.

Hong Kong

Securities and Futures Commission of Hong Kong (SFC HK)
Official Website

The SFC works to ensure orderly securities and futures market operations, to protect investors and help promote Hong Kong as an international financial centre and a key financial market in China.

The Financial Commission PLC (Fina Com)
Official Website

Financial Commission (FinCom PLC) is the first, neutral, third party Dispute Resolution Organization that is dedicated specifically to Forex, and it operates in a way where transparency, swiftness, and education are the paramount values.

Financial Commission ensures that traders and brokers are getting their disputes resolved in a quick, efficient, unbiased and authentic manner, while making sure they walk away with a well-founded answer, thus contributing to their overall knowledge about Forex.


Central Bank of Ireland (CBI (MiFID))
Official Website

CBI is responsible for both central banking and financial regulation and fore maintaining price stability through policy formulation at Eurosystem (MiFID) level.

We will continue to support the Governor in performing his role in relation to European Central Bank (ECB) monetary policy formulation and crisis resolution, and also continue to contribute to policy development and analysis across our wide range of Eurosystem commitments. We will also continue to implement both standard and non-standard monetary policies and operations on a decentralised basis.


The National Commission for Companies and the Stock Exchange (CONSOB)
Official Website

The National Commission for Companies and the Stock Exchange (CONSOB) is the public authority responsible for regulating the Italian financial markets.

Its activity is aimed at the protection of the investing public.

In this connection, the CONSOB is the competent authority for ensuring

  • transparency and correct behaviour by financial market participants;
  • disclosure of complete and accurate information to the investing public by listed companies;
  • accuracy of the facts represented in the prospectuses related to offerings of transferable securities to the investing public;
  • compliance with regulations by auditors entered in the Special Register.

CONSOB conducts investigations with respect to potential infringements of insider dealing and market manipulation law.


Financial Futures Association of Japan (FFAJ)
Official Website

 Main objectives of Financial Futures Association of Japan (FFAJ):

  1. Formulating self regulatory rules for members and providing them with audit, guidance and recommendations.
  2. Working for the prompt solution of investors complaints and grievances in cooperation with the members.
  3. Conducting research on both domestic and foreign financial futures markets, compiling statistical data and preparing recommendations for the sound growth of the industry.
  4. Issuing publications on financial futures and hosting seminars and training, and public relations through its Website.
Financial Services Agency of Japan (FSA JP)
Official Website

The JFSA aims to contribute to the welfare of the nation by promoting the sustainable growth of business activities and the economy:

  • through ensuring efficient and effective financial intermediation, financial stability and market integrity and transparency
  • coping with uncertainty in the global economy and the transformation of the industry resulting from factors such as innovations in financial technologies.


Jordan Securities Commission (JSC)
Official Website

To regulate, monitor & develop Jordan capital market in issues related to disclosure, financial services activities & dealing in securities, in order to enhance the trust in the national economy, encourage investment & protect investors. As well as, upgrade legislations & technical developments continuously & according to recent standards & international best practices.

Jordan Securities Commission (JSC) is concerned to achieve the following objectives:

  • Regulate & develop the capital market.
  • Protect Amman Stock Exchange (ASE) investors in securities.
  • Protect the capital market from risks.


Capital Markets Authority of Kenya (CMA Kenya)
Official Website

The Capital Markets Authority is an independent public agency established by an Act of Parliament, Cap 485 A under The National Treasury and Planning. The Authority came into being on December 15, 1989 when the Act was passed and was inaugurated in March 1990.

The CMA is a regulating body charged with the prime responsibility of supervising, licensing and monitoring the activities of market intermediaries, including the stock exchange and the central depository and settlement system and all the other persons licensed under the Capital Markets Act. It plays a critical role in the economy by facilitating mobilization and allocation of capital resources to finance long term productive investments.

The Authority derives its powers to regulate and supervise the capital markets industry from the Capital Markets Act and the Regulations issued there under. The regulatory functions of the Authority as provided by the Act and the regulations include the following:

  • Licensing and supervising all the capital market intermediaries
  • Ensuring proper conduct of all licensed persons and market institutions.
  • Regulating the issuance of the capital market products (bonds, shares etc )
  • Promoting market development through research on new products and institutions.
  • Promoting investor education and public awareness
  • Protecting investors’ interest
  • Composition of the Board


Financial and Capital Market Commission of Latvia (FCMC)
Official Website

The Financial and Capital Market Commission is an autonomous public institution, which carries out the supervision of Latvian banks, credit unions, insurance companies and insurance brokerage companies, participants of financial instruments market, as well as private pension funds, payment institutions and electronic money institutions.

The Financial and Capital Market Commission ensures enhancing stability, competitiveness and development of the financial and capital markets as well as protection of the interests of investors, depositors and insured persons.


Capital Markets Authority of Lebanon (CMA LB)
Official Website

The Capital Markets Authority (CMA) is an independent, autonomous regulatory body established by the Capital Markets Law No. 161, ratified on 17 August 2011. The CMA’s main responsibility is regulating, supervising, licensing, and monitoring the activities of the Lebanese Capital Markets as per the powers stipulated by the Capital Markets Law No. 161/2011.

The CMA has two main objectives that underline its strategic mission and vision: (I) promoting and developing the Lebanese Capital Markets; and (II) protecting investors from fraudulent activities, through issuing regulations that are in line with international best practices, and proper control and audit of all institutions that deal with financial instruments.

As per Law 161/2011, the CMA issues regulations and supervises the financial markets in an effort to reduce Systemic Risk in the market while also aiming to develop and promote the use of capital markets in Lebanon. Risk management is conducted through promoting a transparent regulatory framework and a comprehensive oversight of the financial system, which allows the CMA to identify potential risks that may systemically damage the financial markets, and preemptively engage to mitigate them.

From the perspective of investor protection, the CMA recognizes that issuing diligent regulations on its behalf is highly important for a safe and efficient functioning of the market. As part of its mandate, the CMA also focuses on investor education with a view to enhancing public education and raising awareness about financial markets and the associated risks. This will not only help investors but will also improve the efficiency of capital markets, boost confidence, and reduce risk.


Financial Sector Supervisory Commission (CSSF)
Official Website

Financial Sector Supervisory Commission (The Commission de Surveillance du Secteur Financier - CSSF) is the supervisory authority of the Luxembourg financial sector.

Its duties and its field of competence are provided for in Section 2 of the Law of 23 December 1998 establishing a financial sector supervisory commission (“Commission de surveillance du secteur financier”) (the “Organic Law”).

The CSSF performs its duties of prudential supervision and supervision of the markets for the purposes of ensuring the safety and soundness of the financial sector, solely in the public interest. Within the limits of its remit, it ensures notably that the authorised persons and the issuers comply with the regulations applicable to them, including those aiming to ensure the protection of the financial consumers and the prevention of the use of the financial sector for the purposes of money laundering or terrorist financing.

The CSSF represents Luxembourg in the area of European and international supervision.


Labuan Financial Services Authority (Labuan FSA)
Official Website

Labuan Financial Services Authority (Labuan FSA) was established on 15 February 1996 under the Labuan Financial Services Authority Act 1996. Labuan FSA is the statutory body responsible for the development and administration of the Labuan International Business and Financial Centre (Labuan IBFC).

The key objectives of Labuan FSA are to:

  • Promote and develop Labuan as an international centre for business and financial services; 
  • Develop national objectives, policies and priorities for the orderly development and administration of international business and financial services in Labuan;
  • Act as the central regulatory, supervisory and enforcement authority of the international business and financial services industry in Labuan. 

Labuan FSA licenses and regulates licensed entities operating within Labuan IBFC and to ensure all such entities remain in compliance with the Labuan laws and regulations and adhere to the international standards, which are adopted by the jurisdiction. Labuan FSA develops regulatory policies to ensure orderly conduct of business and financial services in Labuan IBFC.


Malta Financial Services Authority (MFSA (MiFID))
Official Website

MFSA is the single regulator for financial services activities in Malta. It regulates and supervises credit and financial institutions, investment, trust and insurance business and also houses the country's Companies Registry.

The MFSA issues guidance notes, monitors local and international developments, works with relevant parties on legislative matters, and plays a major role in training. It encourages high standards of compliance and runs a consumer complaints unit.


Financial Services Commission Mauritius (FSC Mauritius)
Official Website

FSC is the integrated regulator for the financial services sector (other than banking) and global business. The FSC licences ‘Investment Dealers’, not forex brokers.

Strong regulation and supervision are essential to ensure stability in the financial system. FSC's objective is to position Mauritius as a jurisdiction of substance with the right balance between regulation and business development.


Capital Markets Authority of Montenegro (CMA Montenegro)
Official Website

The Capital Market Authority is an independent regulatory body established by law to regulate and supervise the issuance of securities and their trading in accordance with the international rules and principles of the International Organization of Securities Commissions (IOSCO), the legal framework of the European Union in this area (EU Acquis) and the rules of the European Securities and Markets Authority (ESMA).

The Capital Market Authority is committed to realizing the vision of modern regulation of the capital market with precisely defined goals:

  • encouraging a fair, efficient and transparent capital market in order to protect investors in securities and reduce systemic risk;
  • regulation of securities issues and operations with these securities;
  • exercising the supervisory function over the capital market;
  • education of capital market participants;
  • informing the public about the trends and development of the capital market;
  • development of internal strategic capacities and organizational efficiency.

The Capital Market Authority continuously supervises the operations of persons and companies that professionally trade in securities, with the aim of promoting and encouraging high standards of investor protection and market integrity.

New Zealand

Financial Markets Authority of New Zealand (FMA)
Official Website

The Financial Markets Authority (FMA) has established itself as an agency with a critical role in regulating capital markets and financial services in New Zealand.  

As a risk-based conduct regulator, we focus our resources on conduct that we think poses the most significant risk to achieving this objective.

Our main vision is to promote and facilitate the development of fair, efficient and transparent financial markets.

Financial Service Providers Register of New Zealand (FSPR)
Official Website

The government created the FSPR as part of its regime to make the financial services sector more accountable and transparent. The purpose of registration is to enable the public and regulators to access information about financial service providers, and to prohibit certain people from providing financial services.


Portuguese Securities Market Commission (CMVM)
Official Website

The CMVM - Comissão do Mercado de Valores Mobiliários (Portuguese Securities Market Commission) was established in May 1991 (Decree-Law No. 142-A/91 of 10 April) and is tasked with supervising and regulating the financial instruments markets as well as the agents operating within those markets and promoting investor protection. The CMVM also has the following responsibilities:

  • Sanction breaches of the Securities Code and of supplementary legislation;
  • Ensure the stability of financial markets by contributing to the identifying and preventing systemic risk; 
  • Contribute to the development of financial instrument markets;
  • Provide information and handle complaints from retail investors; 
  • Mediate conflicts between entities subject to its supervision and between them and investors;
  • Assist the Government and its member responsible for ​​Finance; 
  • Perform any other duties assigned to it by law.


Centre for Regulation in OTC Financial Instruments and Technologies (CRFIN)
Official Website

Centre for Regulation in OTC Financial Instruments and Technologies (CRFIN) is a non-profit self-regulated partnership aimed to make the retail off-exchange Forex market a rightful member of the Russian financial industry.

Our mission is to promote creating effective mechanisms at the off-exchange segment of the Forex market which are necessary for development, transparency, civilized and convenient business environment and protection of interests for market participants.


Financial Services Authority of Seychelles (FSA Seychelles)
Official Website

Safeguard the interest of the Seychelles non-bank financial services sector, through the establishment of a sound and ethical regulatory environment.

To jointly create a conducive environment for the growth and development of the financial services industry of Seychelles, in alignment with the national economic development strategy and in strict compliance with local and international regulatory norms and best practices.

South Africa

Financial Services Board of South Africa (FSCA ZA)
Official Website

The FSB is an independent institution, established by statute to oversee the South African non-banking financial services industry in the public interest, and fully funded by fees and levies imposed on this industry.

After more than 20 years of regulating the non-banking sector of South Africa’s financial services industry, the FSB has established itself as a reputable authority in this field, locally and internationally. Over the years, it has contributed to the stability of this industry while meeting its mandate of protecting consumers of financial products and services.

St. Vincent & the Grenadines

Financial Services Autority St. Vincent & the Grenadines (FSA SVG)
Official Website

The Financial Services Authority regulates and supervises the international financial services sector and the non bank financial institutions in accordance with the various governing legislation and best international practices to ensure that these sectors are reputable and contribute to the economic and social development of St. Vincent and the Grenadines.


Swedish Financial Supervisory Authority (FSA SE (MiFID))
Official Website

The Swedish FSA is a governmental agency. We strive for promotion of financial stability and assurance of consumer rights. Every company engaged in Swedish financial markets is liable to our supervision and authorization. Analysis of market patterns, evaluation of business soundness of firms, industries and market in general are within our cognizance. Paying due attention to risks and control measures, we ascertain conformity to the relevant normative acts.

We license every activity associated with financial services. Our legislative competence involves issuance of standards and amendment of current unqualified normative acts. Should incompliance or market rate manipulations become apparent, on-the-spot investigations will involve resident and non-resident Swedish companies.

We see to elaboration of accounting and reporting rules, guaranteeing that the public is kept posted on the activities pursued by the companies.


Swiss Financial Market Supervisory Authority (FINMA)
Official Website

FINMA performs its supervisory activities for the benefit of the Swiss financial centre, as well as investors, creditors and insured persons.

The primary objective of financial market supervision is to ensure the proper functioning of the financial markets and to protect clients as a group against insolvency.


Capital Markets Board of Turkey (CMB Turkey)
Official Website

Capital Markets Board of Turkey (CMB) is the regulatory and supervisory authority in charge of the securities markets in Turkey. Empowered by the Capital Markets Law (CML), which was enacted in 1981, the CMB has been making detailed regulations for organizing the markets and developing capital market instruments and institutions.

Based on the main objectives of fair and orderly functioning of the markets and protecting the rights of investors, the CMB has a wide range of responsibilities. Depending upon the development stages of the markets and the state of the country's economy, the list of priorities changes from time to time. However the major objective remains the same: to take the necessary measures for fostering the development of capital markets, and hence to contribute to the efficient allocation of financial resources in the country while ensuring investor protection.

Mission Statement:

To make innovative regulations, and perform supervision with the aim of ensuring fairness, efficiency and transparency in Turkish capital markets, and improving their international competitiveness.

Goals and Objectives:

Within the scope of its mission the CMB has established its main strategic objectives as to:

  • enhance investor protection;
  • adopt the norms of the international capital markets and fully integrate them into regulations;
  • promote and enhance the effectiveness of both the supply and the demand side of the markets;
  • promote transparency and fairness in the capital markets;
  • facilitate modernisation of the market structure;
  • enhance the infrastructure of the capital markets;
  • enhance the quality of the work products and staff members of the Board.

United Arab Emirates

Abu Dhabi Global Markets Financial Services Regulatory Authority (ADGM FSRA)
Official Website

ADGM believes that a fair, efficient and transparent marketplace is fundamental in meeting the dynamic and growing needs of the Abu Dhabi economy and global markets. ADGM’s Financial Services Regulatory Authority was established to advocate a progressive financial services environment and uphold the integrity of the whole international financial centre by managing any potential risk exposure and undesirable impacts.

The regulatory framework of the FSRA, the regulations and rules of which are modelled on internationally recognised standards and best practices, ensure that financial entities operate in ADGM with certainty and do so on a level-playing field, and that the best interests of customers, clients and investors are safeguarded.

The FSRA has an open and progressive approach in the maintenance and development of its regulatory framework, looking towards the international standard-setting bodies and responding to market innovations, and undertaking meaningful stakeholder engagement through public consultations, when considering amendments to its regulatory framework

Central Bank of United Arab Emirates (CB UAE)
Official Website

The main responsibility of the Central Bank is formulation and implementation of banking, credit and monetary policies, to ensure the growth of the national economy of the UAE in a balanced manner.

The Central Bank is also working to maintain a fixed exchange rate of the dirham against the U.S. dollar and to ensure the free convertibility of the national currency into foreign currencies, in addition to its role as "Bank of Banks" and the Government's bank and its financial adviser.

Dubai Financial Services Authority (DFSA)
Official Website

Economic activity of a free target-oriented zone in Dubai is regulated by the DFSA.

Management of resources and securities, execution of banking and trust services, Islamic finance, exchange of international equities and derivatives, as well as insurance matters fall within the competence of the DFSA.

Activity of DFSA is based on a principle of risk-related regulation and avoidance of unnecessary regulatory implications. Besides, the agency made it clear that the obligations liable to fulfillment should comply with optimization of risks in order for such obligations to be successfully met.

Under the circumstances, the priorities include generation of a cycle of risk optimization that aims at identification, evaluation and assessment of risks in order to enhance local and international markets and their patterns.

According to DFSA, the reality of efficient risk-based regulation is more important than the way of its achievement.

Emirates Securities and Commodities Authority (SCA UAE)
Official Website

Fulfillment of federal tasks has always been the goal of Securities and Commodities Authority. Its normative acts establish and enhance the legal environment of the companies engaged in the securities business, thus, strengthening the Authority’s credibility.

The Authority continuously strives to enhance administration of the subordinate companies, alerting them to the general requirements set by the relevant federal laws and any other supportive normative acts.

The SCA shall license all securities markets in the UAE established in the form of electronically interconnected local public bodies.

Market management shall be ensured by the locally established Board comprising only those members that participate neither in any public joint-stock company nor in any brokerage activity.

The primary task of this agency lies in protection of the investing public, adequate enactment that promotes fair business and advances market efficiency, and adoption of the relevant control measures.

United Kingdom

Financial Conduct Authority UK (FCA UK)
Official Website

FCA regulates the financial services industry in the UK.

FCA aims to make sure that financial markets work well so that consumers get a fair deal. This means ensuring that, the financial industry is run with integrity, firms provide consumers with appropriate products and services, and consumers can trust that firms have their best interests at heart.

United States

Financial Industry Regulatory Authority (FINRA)
Official Website

FINRA is the largest independent agency regulating securities-related sphere of activity of various organizations in the U.S. FINRA’s objective lies in protection of American investors through assurance of fair and honest operation of the securities industry.

Every feature of the securities business, including registration and instruction of industry agents, elaboration and enforcement of rules and federal laws, evaluation of companies engaged in the field, training and instruction of investors, submission of trade reports, as well as administration of forum for dispute settlement, is covered by FINRA. Contractual market regulation for the key U.S. stock markets falls within our competence as well.

In this sophisticated global economic situation FINRA acts as a reliable representative of investors’ interests; its activity is devoted to assurance of market soundness and aimed at regulation of financial matters to protect the market and the investors themselves.

National Futures Association (NFA)
Official Website

Investor confidence is crucial to the success of the derivatives markets, and the best way to gain investor confidence is to ensure that the highest levels of integrity are demanded of all market participants and intermediaries.

National Futures Association (NFA) is the industrywide, self-regulatory organization for the U.S. derivatives industry. NFA strives every day to safeguard market integrity, protect investors and help our Members meet their regulatory responsibilities.

Securities and Exchange Commission (SEC)
Official Website

SEC in the U.S. ensures protection of investors, maintenance of fair markets, and capital formation advancement. The main participants dealing with securities are controlled by the agency. The first concern of the SEC here lies in promotion of crucial information disclosure, protection against fraud and fair business relations.

Rational and well-educated investors are an important mechanism of efficient market functioning, since they serve as the major information source. A variety of information aligned with investor awareness is posted by the SEC on this website, including the database of documents liable to disclosure and submission.

The SEC regulates and controls the American securities markets in cooperation with many other agencies, including Congress, various private companies and other organizations. Notably, the Chairman of the agency and certain public officials participate in a working group on financial markets.

U.S. Commodity Futures Trading Commission (CFTC)
Official Website

The mission of the Commodity Futures Trading Commission (CFTC) is to foster open, transparent, competitive, and financially sound markets, to avoid systemic risk, and to protect the market users and their funds, consumers, and the public from fraud, manipulation, and abusive practices related to derivatives and other products that are subject to the Commodity Exchange Act.


The Vanuatu Financial Services Commission (VFSC)
Official Website

The Vanuatu Financial Services Commission (VFSC) was formally established in December 1993, after the Vanuatu Parliament enacted the Vanuatu Financial Services Commission Act No. 35 of 1993. Previous to this, we were the Registrar of Companies and the Official Receivership Department of the Treasury since 1971 under the then, British Administration and after independence in July 1980, the Ministry of Finance and Economic Management.

In short the main function of the VFSC is to operate an effective and efficient Registry.In addition, it has been tasked to regulate and supervise the non-deposit taking financial services industry of Vanuatu. This function would include promoting the industry overseas and protecting its reputation from undesirable business persons.