Procedure for NFC reporting by forex brokers
To ensure that forex brokers can submit reports to the NFC, the forex broker shall meet the following requirements established by the NFC local regulations
|Step 1. Submit the following set of documents to the NFC|
- copies of the constituent documents with all registered amendments and additions, signed and sealed by the forex broker head;
- a copy of the state registration certificate signed and sealed by the forex broker head;
- a copy of the confirmed document on registration with the tax authorities, signed and sealed by the forex broker head;
- a copy of the certificate of including forex companies into the register, issued by the National Bank, signed and sealed by the forex broker head (only for forex brokers who are not banks or non-bank credit and financial organizations);
- in electronic form in Word or pdf format, the Rules for non-deliverable OTC financial instruments transactions approved by forex brokers, and their hard copy, signed by the head and sealed by the legal entity;
- a sample signatures and seal card of officials authorized to sign powers of attorney, contracts, applications and other documents submitted to the NFC.
|Step 2. Connecting to the Personal Account|
The following conditions should be respected to connect to the service.
- to submit the following documents to the NFC:
- application for admission to work in the Personal Account;
- questionnaire of the authorized person;
- a power of attorney to represent the interests of the forex broker or a copy of a document confirming the right of an individual to act on behalf of the forex broker without a power of attorney, certified by the signature of the head of the forex broker and sealed.
- to conclude the NFC services contract.
- to become a member of the BCSE EDMS. The EDMS connecting procedure is described here.
- pass the NFC verification of the software used for performing OTC Forex market operations and transferring reports to the NFC.
- Get a login and password from the NFC administrator for an authorized person of the forex broker to access the Personal Account.