All futures dealers must be authorised or approved and comply with the requirements set under the Securities Markets Act 1988.
Regulatory change coming soon:
The Securities Markets Act 1988 is due to be repealed on 1 December 2014 as part of the implementation of the Financial Markets Conduct Act 2013 (FMCA). This will mean that futures dealers will cease to be authorised from 1 December 2014. Some authorised futures dealers will need a Derivatives Issuer licence from that date. There are provisions for certain futures dealers to obtain a deemed Derivatives Issuer licence under the FMCA. For further information on what these changes means for you, see the Derivatives Issuer section of our website. Our flowchart do you need a derivative issuer licence from 1 December 2014 will help you decide whether you need a licence.