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Thinkmarkets backtrack on regulatory claim

Bermuda’s financial services regulator today denied they had issued a licence to ThinkMarkets companies, the global online brokerage group.

The Bermuda Monetary Authority said ThinkMarkets issued a press release on 17 August in which it falsely claimed to have a BMA issued licence.

An Authority media release said it contacted ThinkMarkets about this false claim and were advised that the statement was made in error and that instead, it should have stated that it had been issued a licence by the Cayman Islands Monetary Authority.

The Authority said today that it wished to acknowledge the efforts made by ThinkMarkets to have this error corrected, after they issued the revised press release on 21 August 2021.

The BMA said: “This warning has been issued to correct the public record and to ensure that no members of the public remain confused by the error contained in the original press release.”

Established in 2010, ThinkMarkets is a premium multi-asset online brokerage with headquarters in London and Melbourne and hubs in the Asia-Pacific, Middle East and North Africa, Europe and South America.

It seeks to provide quick and easy access to a wide range of markets including forex, CFDs on equities, cryptocurrencies, commodities, indices, futures and more.

Bermuda Monetary Authority clarified they had issued no licence to ThinkMarkets (File photograph)

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Published September 08, 2021 at 7:59 am (Updated September 08, 2021 at 7:59 am)

Thinkmarkets backtrack on regulatory claim

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