Gallant Capital Markets (Gallant) recently announced that the British Virgin Islands Financial Services Commission (BVIFSC) approved its application for an investment business license. This license will allow the firm to deal in investments as a principal.
Receipt of this license from the Financial Services Commission (FSC) of the British Virgin Islands (BVI) is particularly noteworthy as Gallant is the first and currently the only Forex broker-dealer domiciled in the BVI to be authorized and regulated by the FSC under the Securities and Investment Business Act of 2010 (SIBA). The act is the new regulatory regime which now regulates this type of investment business activity in the BVI.
BVI was the only offshore financial center to rise in the GFCI ratings and has confirmed its growing importance as a financial center in the latest Global Financial Centres Index (GFCI) ratings.
“Both receiving and being the first to receive an investment business license from the BVIFSC to deal in investments as a principal is exciting and a huge milestone for our company. It symbolizes our commitment to our global clients, and it adds momentum to our continuing effort to expand our company through our products and services,” said Salvatore Buccellato, CEO of Gallant Capital Markets.