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Chapter 39, Part III. Forex Scam - Emergency Call. Page 4

Discussion in 'Complete Trading Education- Forex Military School' started by Sive Morten, Dec 28, 2013.

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  1. Sive Morten

    Sive Morten Special Consultant to the FPA

    Aug 28, 2009
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    But let’s return to more developed countries. In UK this is Financial Services Authority that was founded in 2001. It fulfills the same function as NFA and CFTC and has its own members that are subject of its rules and requirements. Its website is Financial Services Authority

    While in the US you can report about financial fraud directly on websites of the CFTC or NFA, in other countries there could be other sources to do that. For instance, in UK you may try to apply through “Action Fraud”.

    Switzerland is a core of world banking and financial services and markets as well. So, that is no surprise that particularly Switzerland has a regulator with authority over banking and financials for a long time already. The Federal Department of Finance (FDF) was founded as far back as 1848. Also Switzerland has another authority, that is the Swiss Financial Markets Authority (FINMA) and it was formed relatively recently, in 2007. While first one (FDF) is a general supervisor of overall financials, particularly FINMA regulates as banks, securities dealers and exchanges.

    As we’ve said, other countries also have regulators, so, let’s just list some of them here:

    - Germany: The Federal Financial Supervisory Authority BAFIN (Bundesanstalt für Finanzdienstleistungsaufsicht)

    - France: AMF (The Autorité des marchés financiers)

    - Australia: Australian Securities and Investment Commission (ASIC). Here is also exists such authority as Australian Competition and Consumer Commission, where you can report about fraud or any scam action.

    - Hong Kong: HK Securities and Futures Commission

    - Japan: Financial Services Agency (FSA)

    In fact, they are many well-known and easy to find authorities, just use Google to search. So you will have no problems, if you would like to find their website once. Although I wish you do not have real reasons to do it.


    P.S. This lesson was written by Sive Morten, who has been working for a large European Bank since April of 2000, and is currently a supervisor of the bank's risk assessment department. Sive's knowledge of forex market and banking industry is vast and quite complete. If you have any specific questions about forex, banking industry, or any other financial instruments, please post them on the next page and Sive should answer soon.

    Note: FPA ranks are earned in the battles against scam, not in the classroom.
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