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Last Update 22:25
Sunday, 18 August 2019
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Life & Style
Additional six months for financial advisers to conform to regulatory authority terms
, Wednesday 14 Aug 2019
The Financial Regulatory Authority (FRA) announced it will grant its companies listed as approved financial advisers and analysts extra six months, starting from 28 August, to comply with the new regulations introduced last year.
Companies have to submit an action plan and meet all recent requirements before the end of February 2020.
The regulations, which aim to enhance market transparency and align policies with recent legislation such as the Capital Markets and Companies Acts, became in force in July 2018, establishing a list of FRA-certified advisory firms and research houses to conduct financial valuation studies.
The new terms require firms to renew their registration on the list every three years, but they will be removed from the registry and risk losing their operating licences if they violate the law.
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