SotRegulators vary so much in effectiveness. I don't want to drag this thread too far off topic, so I'll keep it short.
As far as I know, the only thing that Panama and Mauritius have ever done is to cancel broker registrations and/or issuing warnings that brokers aren't registered. I've never heard of any case of these regulators ordering payments be made to clients or imposing fines.
Sot
Sorry for offtopic, guys, but may be reasonable to create some resource, where there would be published especially "dangereous" countries for broker's registration?