The Belize regulator cleans house, delicenses over 40 brokers

M

mlawson71

The International Financial Services Commission of Belize (the “IFSC”) warned the public Finpro Trading, BlueMax Capital, Fort Financial Services, NPBFX, Salma Markets, Top4FX, IFA FX, ZB Forex and 40 more companies have not renewed their forex broker licenses. Therefore, those companies are not authorized to provide, carry on, or transact any of the international financial services provided for in the law of Belize as of February 1, 2019.

Here is the complete list of entities are no longer licensed by the International Financial Services Commission of Belize (arranged in alphabetical order).

I am curious what prompted such drastic action.
 
The BZ govt probably realized they were being played for chumps by dishonest or exploitive brokerages and gave them the boot. All started, I imagine, when some midlevel govt official realized that liberal brokerage rules could attract offshore brokerages and generate revenue. Same thing happened years ago when Belize established a ship registry that quickly earned itself a bad name. The nation is plagued by a large and inefficient public sector and small tax base, and so is unfortunately easy pickings for outside entities offering revenue opportunities. Been that way since independence.
 
,, 4.Always Rich Global Limited "
...
,, 42. Safe Gold International (Belize) Limited"

At least kudos for the names :)
 
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