Admirals, a global trading and investment services
provider, is once again accepting new clients in the European Union following a
temporary pause earlier in 2024.
The company halted EU onboarding to refine its
compliance framework in line with evolving financial regulations. With these
enhancements now in place, the company mentioned that it is resuming
operations, aiming to boost its market position while maintaining uninterrupted
service for existing clients.
Regulatory Adjustments Drive the Onboarding Pause
The temporary halt in new EU registrations involved
Admirals’ efforts to strengthen its compliance measures. According to the
announcement sent to Finance Magnates, the company used this period to ensure
that its operations aligned with industry standards.
“This decision is related to our efforts to
comply with and adapt to the recommendations of the CySEC regulator and affects
only our activities in the EU countries. Our current customer base in Europe
remains intact, and we will continue to ensure stable access for our clients to
our products and services,” said Admirals’ CEO and Co-Founder Alexander
Tsikhilov.
The company has reportedly worked closely with the
Cyprus Securities and Exchange Commission (CySEC) to ensure full compliance
with regulatory requirements. This collaboration highlights Admirals’
dedication to maintaining a strong and transparent market presence.
“Admirals is resuming all onboarding activities
in the EU, as the level of service to existing clients has not changed. This
commitment is in alignment with industry trends, where financial technology is
becoming pivotal in transforming and optimizing traders’ customizable journey
in the global markets,” the company mentioned.
Expect ongoing updates as this story evolves.
Admirals, a global trading and investment services
provider, is once again accepting new clients in the European Union following a
temporary pause earlier in 2024.
The company halted EU onboarding to refine its
compliance framework in line with evolving financial regulations. With these
enhancements now in place, the company mentioned that it is resuming
operations, aiming to boost its market position while maintaining uninterrupted
service for existing clients.
Regulatory Adjustments Drive the Onboarding Pause
The temporary halt in new EU registrations involved
Admirals’ efforts to strengthen its compliance measures. According to the
announcement sent to Finance Magnates, the company used this period to ensure
that its operations aligned with industry standards.
“This decision is related to our efforts to
comply with and adapt to the recommendations of the CySEC regulator and affects
only our activities in the EU countries. Our current customer base in Europe
remains intact, and we will continue to ensure stable access for our clients to
our products and services,” said Admirals’ CEO and Co-Founder Alexander
Tsikhilov.
The company has reportedly worked closely with the
Cyprus Securities and Exchange Commission (CySEC) to ensure full compliance
with regulatory requirements. This collaboration highlights Admirals’
dedication to maintaining a strong and transparent market presence.
“Admirals is resuming all onboarding activities
in the EU, as the level of service to existing clients has not changed. This
commitment is in alignment with industry trends, where financial technology is
becoming pivotal in transforming and optimizing traders’ customizable journey
in the global markets,” the company mentioned.
Expect ongoing updates as this story evolves.
This post is originally published on FINANCEMAGNATES.
