Authorisation required for investment services relating to foreign exchange trading
FIN-FSA considers that trading based on rolling spot forex contracts is by its nature an investment service and therefore comes under the Act on Investment Services. Hence FIN-FSA will require entities pursuing such activities to have authorisation in accordance with the aforesaid Act.
Rolling spot forex contracts may be considered as either futures or financial contracts for differences, where gains and losses are based on changes in the market-based relationships between currencies. The activity does not as such involve the actual trading of currencies.
For further information, please contact
- Harri Hirvi, Legal Adviser, tel. +358 10 831 5284