GM Regulation:
GuardMark is an unregulated firm out of Saint Vincent. Being unregulated allows the flexibility to offer a wide array of products and services and to a diverse client base. For certain products and services we have share regulation status with our industry partners. Below is a quick look at the different regulatory authorities that are most recognized throughout the world:
Financial Conduct Authority (UK) - FCA
DEFINITION of 'Financial Conduct Authority (UK) - FCA':
The regulator of the financial services industry in the United Kingdom. The Financial Conduct Authority (FCA) has the strategic goal of ensuring that the relevant markets in the U.K. function well. It has three operational objectives in support of this strategic goal – to protect consumers, to protect and enhance the integrity of the U.K. financial system and to promote healthy competition between financial services providers in the interests of consumers. It was established by the Financial Services Act that came into force on April 1, 2013.
BREAKING DOWN 'Financial Conduct Authority (UK) - FCA':
The FCA’s statutory objectives were set up under the Financial Services and Markets Act 2000, amended by the Financial Services Act 2012. The latter Act made major changes to the way financial services firms like banks are regulated in the U.K. It was introduced to ensure the financial sector manages and contains risks more effectively, after the financial crisis of 2008-09.
The FCA has sweeping powers to enforce its mandate, including rule-making, investigative and enforcement powers. The FCA also has the power to raise fees, which is necessary since it is an independent body and does not receive any government funding. It therefore charges fees to authorized firms that carry out activities regulated by the FCA, and other bodies like recognized investment exchanges.
Periodic fees charged to firms provide most of the funding required by the FCA to carry out its statutory duties. These fees are based on factors such as the type of regulated activities undertaken by a firm and the scale of those activities, as well as the regulatory costs incurred by the FCA.
National Futures Association - NFA
DEFINITION of 'National Futures Association - NFA':
The independent self-regulatory organization for the U.S. futures market. NFA membership is mandatory for all participants in the futures market, providing assurance to the investing public that all firms, intermediaries and associates who conduct business with them on the U.S. futures exchanges must adhere to the same high standards of professional conduct. The NFA operates at no cost to the taxpayer, as it is financed exclusively by membership dues paid by members and assessment fees paid by users of futures markets. The national headquarters is in Chicago and there is an office in New York.
BREAKING DOWN 'National Futures Association - NFA':
The NFA began operating in 1982, subsequent to the establishment of the Commodity Futures Trading Commission in 1974; this legislation also authorized the creation of registered futures exchanges, thereby facilitating the creation of a national self-regulatory organization.
Commodity Futures Trading Commission - CFTC
DEFINITION of 'Commodity Futures Trading Commission - CFTC':
An independent U.S. federal agency established by the Commodity Futures Trading Commission Act of 1974. The Commodity Futures Trading Commission regulates the commodity futures and options markets. Its goals include the promotion of competitive and efficient futures markets and the protection of investors against manipulation, abusive trade practices and fraud.
BREAKING DOWN 'Commodity Futures Trading Commission - CFTC':
The CFTC has five committees, each headed by a commissioner, who is appointed by the president and approved by the Senate. These five committees focus on agriculture, global markets, energy and environmental markets, technology, and cooperation between the CFTC and SEC. The committees are populated by individuals who represent the interests of specific industries, traders, futures exchanges, commodities exchanges, consumers and the environment.
Australian Securities And Investments Commission - ASIC
DEFINITION of 'Australian Securities And Investments Commission - ASIC':
The regulator of Australia's markets and financial services. The ASIC ensures that Australia's financial markets are fair and transparent.
The ASIC is an independent Commonwealth Government body established by the Australian Securities and Investments Commission Act (ASIC ACT). The ASIC Act requires the ASIC to:
BREAKING DOWN 'Australian Securities And Investments Commission - ASIC':
The Australian Securities and Investments Commission falls under the responsibilities of the Parliamentary Secretary to the Treasurer. The ASIC regulates Australian companies, financial markets, financial services organizations and professionals who deal and/or advise in insurance, superannuation, investments, deposit taking and credit. ASIC service centers are located in all of Australia's capital cities.
Financial Conduct Authority (UK) - FCA
DEFINITION of 'Financial Conduct Authority (UK) - FCA':
The regulator of the financial services industry in the United Kingdom. The Financial Conduct Authority (FCA) has the strategic goal of ensuring that the relevant markets in the U.K. function well. It has three operational objectives in support of this strategic goal – to protect consumers, to protect and enhance the integrity of the U.K. financial system and to promote healthy competition between financial services providers in the interests of consumers. It was established by the Financial Services Act that came into force on April 1, 2013.
BREAKING DOWN 'Financial Conduct Authority (UK) - FCA':
The FCA’s statutory objectives were set up under the Financial Services and Markets Act 2000, amended by the Financial Services Act 2012. The latter Act made major changes to the way financial services firms like banks are regulated in the U.K. It was introduced to ensure the financial sector manages and contains risks more effectively, after the financial crisis of 2008-09.
The FCA has sweeping powers to enforce its mandate, including rule-making, investigative and enforcement powers. The FCA also has the power to raise fees, which is necessary since it is an independent body and does not receive any government funding. It therefore charges fees to authorized firms that carry out activities regulated by the FCA, and other bodies like recognized investment exchanges.
Periodic fees charged to firms provide most of the funding required by the FCA to carry out its statutory duties. These fees are based on factors such as the type of regulated activities undertaken by a firm and the scale of those activities, as well as the regulatory costs incurred by the FCA.
National Futures Association - NFA
DEFINITION of 'National Futures Association - NFA':
The independent self-regulatory organization for the U.S. futures market. NFA membership is mandatory for all participants in the futures market, providing assurance to the investing public that all firms, intermediaries and associates who conduct business with them on the U.S. futures exchanges must adhere to the same high standards of professional conduct. The NFA operates at no cost to the taxpayer, as it is financed exclusively by membership dues paid by members and assessment fees paid by users of futures markets. The national headquarters is in Chicago and there is an office in New York.
BREAKING DOWN 'National Futures Association - NFA':
The NFA began operating in 1982, subsequent to the establishment of the Commodity Futures Trading Commission in 1974; this legislation also authorized the creation of registered futures exchanges, thereby facilitating the creation of a national self-regulatory organization.
Commodity Futures Trading Commission - CFTC
DEFINITION of 'Commodity Futures Trading Commission - CFTC':
An independent U.S. federal agency established by the Commodity Futures Trading Commission Act of 1974. The Commodity Futures Trading Commission regulates the commodity futures and options markets. Its goals include the promotion of competitive and efficient futures markets and the protection of investors against manipulation, abusive trade practices and fraud.
BREAKING DOWN 'Commodity Futures Trading Commission - CFTC':
The CFTC has five committees, each headed by a commissioner, who is appointed by the president and approved by the Senate. These five committees focus on agriculture, global markets, energy and environmental markets, technology, and cooperation between the CFTC and SEC. The committees are populated by individuals who represent the interests of specific industries, traders, futures exchanges, commodities exchanges, consumers and the environment.
Australian Securities And Investments Commission - ASIC
DEFINITION of 'Australian Securities And Investments Commission - ASIC':
The regulator of Australia's markets and financial services. The ASIC ensures that Australia's financial markets are fair and transparent.
The ASIC is an independent Commonwealth Government body established by the Australian Securities and Investments Commission Act (ASIC ACT). The ASIC Act requires the ASIC to:
- Maintain, facilitate and improve the financial system's performance
- Promote confident and informed investor participation
- Administer and enforce the law effectively and efficiently
- Process and store information efficiently and quickly
- Make information regarding companies and other bodies public in a timely manner
BREAKING DOWN 'Australian Securities And Investments Commission - ASIC':
The Australian Securities and Investments Commission falls under the responsibilities of the Parliamentary Secretary to the Treasurer. The ASIC regulates Australian companies, financial markets, financial services organizations and professionals who deal and/or advise in insurance, superannuation, investments, deposit taking and credit. ASIC service centers are located in all of Australia's capital cities.