Alpari Europe IBS AS, part of the international financial brand Alpari, was granted an investment broker’s licence on the 24th of October, 2017. This decision was taken by the Financial and Capital Market Commission of Latvia, having reviewed the application submitted by the company on the 29th of December, 2016. This licence grants Alpari the right to provide its services to clients in Latvia, including to clients from other countries. The company is open to the possibility of expanding its operations to other European Union member states in the future.
The issued permit grants Alpari IBS AS the right to render investment brokerage services, which includes dealing on its own account, as well as executing orders on the behalf of clients. The company will also provide ancillary financial services, including financial market research and analysis, which will be presented as general recommendations.
The company is currently preparing to launch its operational activities, which will comply with European and Latvian law, particularly the new pan-European MiFID II and MiFIR regulations, which will come into force on the 3rd of January, 2018. Alpari Europe IBS AS will be able to start accepting new clients from the beginning of next year. For the time being, Alpari Europe ISB AS is working to strengthen its team and is preparing its Riga office to welcome its clients.
The Financial and Capital Market Commission of Latvia takes a conservative and thorough approach when reviewing applications for licences and in conjunction with other sector-specific authorities, closely monitors the activities of already licensed companies, regularly checking them for compliance with regulatory requirements.
About the brand:
The Alpari international financial brand, founded in 1998, is now one the leading global brands providing services for accessing financial markets. The company provides its services to more than a million clients from 150 different countries and has been granted licences in five countries, including Russia, Belarus, and now Latvia. The company’s trading turnover exceeded 1 trillion USD in 2016. The Alpari brand is owned by international entrepreneur Andrey Dashin.
Category: Legal matters
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