As part of our ongoing commitment to keeping our audience informed, j. awan & partners has compiled the latest regulatory developments shaping financial markets across the GCC, APAC and key global jurisdictions for June 2025. This edition highlights critical updates impacting Financial Institutions, Fintechs, VASPs and other Regulated Entities, including new consultations, enforcement actions, rule changes, and supervisory priorities. We encourage market participants to review these developments closely to stay aligned with evolving regulatory expectations and global best practices.

Gulf Cooperation Council Regulatory Developments

United Arab Emirates

Central Bank of the UAE (CBUAE)

• CBUAE suspends Islamic Window of a bank and imposes AED 3.5 million fine

  • The CBUAE suspended the onboarding of new customers through the Islamic Window of a UAE-based bank for six months and imposed a financial sanction of AED 3,502,214. This action was taken due to non-compliance with Sharia governance requirements and breaches related to Anti-Money Laundering (AML) regulations, emphasizing the importance of adherence to regulatory standards in Islamic banking operations.

Source: CBUAE Financial Suspension

• CBUAE imposes financial sanctions on six exchange houses totalling AED 12.3 million

  • The CBUAE imposed financial sanctions amounting to AED 12.3 million on six exchange houses for violations related to Anti-Money Laundering and Combating the Financing of Terrorism regulations. These actions underscore the CBUAE's commitment to maintaining the integrity of the financial system.

Source: CBUAE Financial Sanction

• CBUAE issues Quarterly Economic Review for Q1 2025

  • The CBUAE released its Quarterly Economic Review for Q1 2025, providing insights into the UAE's economic performance, including GDP growth projections and sectoral analyses. The report serves as a valuable resource for Financial Institutions and policymakers.

Source: CBUAE Quarterly Review

Securities and Commodities Authority (SCA)

• SCA Opens Consultation on Fractionalized Bonds and Sukuk

  • The SCA initiated a public consultation proposing amendments to its rulebook to permit the trading of fractionalized bonds and sukuk. This proposal aims to enhance retail and digital investor access to financial markets. If enacted, Financial Product Dealers and Investors would be directly impacted, requiring Financial Institutions to adjust their systems and processes to accommodate fractionalized securities transactions.

Source: SCA

• SCA launches region’s first “Finfluencer” license to regulate digital financial content

  • The SCA introduced a formal licensing regime for financial influencers (“Finfluencers”) operating from the UAE Mainland, aiming to enhance investor protection by establishing a clear governance framework for individuals offering investment analysis and financial promotions across digital platforms.

Source: SCA

• SCA Launches International Regulatory Collaboration Initiative

  • The SCA participated in an international campaign alongside global regulatory bodies to enhance financial governance and regulatory collaboration.

Source: SCA

• SCA Regulates Financial Content and Influencers to Strengthen Market Integrity

  • The SCA announced new measures to regulate financial content creators and digital influencers in an effort to combat misleading financial information and promote market stability. These regulations form part of the SCA's broader digital transformation strategy and aim to ensure that financial content distributed via social media and other digital platforms adheres to proper standards.

Source: SCA

• SCA Refers Board Members of Unlisted PJSC to Public Prosecution for Violations

  • The SCA has referred board members of an unlisted public joint-stock company to the Public Prosecution following investigations into violations of the UAE's securities laws and regulations. This action reflects the SCA's commitment to enforcing corporate governance and protecting market participants.

Source: SCA

Dubai Financial Services Authority (DFSA)

• DFSA Explores Regulatory Insights on Cybersecurity, AI, and Quantum Risks

  • The DFSA publishes a report following its inaugural Cyber and AI Risk Regulatory College, aimed at regulators and supervisory bodies, distilling expert perspectives on emerging risks in cybersecurity, AI, and quantum computing to foster international dialogue and strengthen oversight frameworks.

Source: DFSA

• DFSA Publishes FAQ on Revised Client Assets Regime

  • The DFSA issued a set of Frequently Asked Questions (FAQs) to support firms in understanding and preparing for its revised Client Assets regime, which comes into effect on 1 January 2026. The updated framework strengthens protections for Client Money, Client Investments, and Client Crypto Tokens as part of the DFSA’s broader efforts to enhance the safeguarding of client assets in the DIFC.

Source: DFSA

• DFSA Joins UAE Authorities to Launch Consultation on Climate Transition Planning Principles

  • The DFSA announced its participation alongside other UAE regulators in launching a public consultation on principles for climate transition planning. The initiative aims to guide Financial Institutions in the UAE on developing credible and effective transition strategies in line with global climate goals.

Source: DFSA

• DFSA Engages with Firms Selected for Tokenisation Regulatory Sandbox

  • The DFSA began engagement with firms chosen to participate in its Tokenisation Regulatory Sandbox. The initiative reinforces the DFSA’s commitment to responsible innovation by allowing firms to test tokenisation solutions within a controlled regulatory environment.

Source: DFSA

• DFSA Contributes to New Unified Financial Services Guidebook for Dubai

  • The DFSA announced its contribution to the newly released Unified Guidebook for Financial Services in Dubai, developed in collaboration with other UAE authorities. The guide aims to streamline regulatory understanding and promote Dubai as a global financial hub.

Source: DFSA

• DFSA Recognises Ripple’s RLUSD as a Crypto Token in the DIFC

  • The DFSA announced the recognition of RLUSD, a crypto token issued by Ripple, as a recognised crypto token permitted for use within the DIFC. This marks the continued expansion of regulated crypto assets under the DFSA’s crypto token regime.

Source: DFSA

Abu Dhabi Global Market (ADGM) | Financial Services Regulatory Authority (FSRA)

• ADGM FSRA Implements Amendments to Digital Asset Regulatory Framework

  • The ADGM FSRA implemented significant amendments to its digital asset regulatory framework, streamlining the process for accepting Virtual Assets, refining capital requirements and fees, introducing specific product-intervention powers, and enshrining prohibitions on privacy tokens and algorithmic stablecoins. The updated framework reflects ADGM’s commitment to fostering responsible innovation and providing regulatory certainty for firms dealing with digital assets.

Source: ADGM

Abu Dhabi Global Market (ADGM) | Registration Authority

• ADGM RA Consults on Substantial Public Interest Rules under Data Protection Regulations

  • The ADGM RA has published a consultation paper on proposed Substantial Public Interest Rules to be issued under the Data Protection Regulations 2021. The proposed rules aim to provide greater legal certainty regarding permissible processing of sensitive personal data under specific public interest grounds.

Source: ADGM

• ADGM RA Accepts Enforceable Undertakings and Imposes Fines for Audit Failings

  • The ADGM RA accepted enforceable undertakings from MBK Auditing and its Audit Principal for audit failings, including deficiencies in quality control and audit documentation. Fines totalling USD 120,000 were imposed, reinforcing ADGM's commitment to audit quality and market integrity.

Source: ADGM

• ADGM RA Consults on New Administrative Regulations for Procedural Fairness and Fines Framework

  • The ADGM RA has launched a public consultation on proposed new Administrative Regulations introducing a framework for procedural fairness, contraventions, and fines. The proposals seek to enhance transparency and consistency in the enforcement process within ADGM.

Source: ADGM

• ADGM FSRA Consults on UAE SFWG Principles for Climate Transition Planning

  • The ADGM FSRA has opened a public consultation on the draft Principles for Climate Transition Planning, developed by the UAE Sustainable Finance Working Group. The proposed principles aim to guide Financial Institutions and other stakeholders in developing credible and consistent transition strategies by setting out key elements around governance, risk management, metrics, data & customer engagement, reporting and implementation. Feedback is invited until 16 July 2025.

Source: ADGM

Virtual Assets Regulatory Authority (VARA)

• VARA Updates Rulebooks to Enhance Market Integrity and Risk Oversight

  • VARA released Version 2.0 of its activity-based rulebooks, introducing stricter controls on margin trading, token distribution, and collateral management. The updated regulations aim to enhance market discipline, risk transparency, and operational resilience across Dubai’s virtual asset ecosystem. Virtual Asset Service Providers (VASPs) in Dubai were required to comply with the new rulebooks by June 19, 2025.

Source: VARA

• VARA issues circular on updated UAE National Risk Assessment (NRA)

  • The VARA issued a circular to all regulated VASPs regarding the publication of the updated UAE National Risk Assessment on AML, CFT, and PF, highlighting the key risk findings and advising VASPs to review and update their compliance programs to reflect the latest assessment.

Source: VARA

Saudi Arabia

Saudi Central Bank (SAMA)

• SAMA seeks public consultation on updated Finance Companies Control Law regulations

  • SAMA released a draft update to the Implementing Regulations of the Finance Companies Control Law for public consultation. The proposed changes aim to enhance the stability and growth of the finance sector by increasing the aggregate finance amount offered by finance companies and easing licensing requirements, such as reducing bank guarantees. Stakeholders were invited to provide feedback within a 30-day window.

Source: SAMA

• SAMA updates rules for issuance and operation of credit cards

  • The SAMA announced updated rules governing the issuance and operation of credit cards, superseding previous regulations. The new rules aim to enhance disclosure and transparency, reduce credit-card costs, and include detailed operational provisions developed in collaboration with international card schemes to ensure consumers receive clear information on terms, conditions, and associated charges.

Source: SAMA

Capital Market Authority (CMA)

• CMA Approves Multiple Public Offerings and Market Listings to Support Capital Market Growth

  • The CMA approved a series of public offerings and market listings throughout June 2025, reinforcing its efforts to expand investment opportunities, deepen market liquidity, and support the development of the Saudi capital market. Key approvals include:

    • The public offering of the Alinma Nomu Market Equity Fund by Alinma Capital, and the Quencia Saudi Equity Fund by Quencia Capital Company, providing investors access to the Saudi equity market and the Nomu Parallel Market.

    • Registration and offering of shares in the Nomu Parallel Market for Alwazn Almithali for Trading Company (451,500 shares) and Jamjoom Fashion Trading Company (2,384,340 shares), enhancing participation opportunities for investors.

    • Initial public offerings for Consolidated Gruenenfelder Saady Holding Company, AlRamz Real Estate Company, and Cherry Trading Company, broadening the range of listed entities and investment avenues available to market participants.

    These approvals align with the CMA's ongoing strategy to diversify financial products, facilitate access to capital markets, and strengthen Saudi Arabia’s position as a regional financial hub.

Source:

Alinma Nomu Market Equity Fund: https://cma.org.sa/en/Market/NEWS/Pages/CMA_N_3823.aspx

Quencia Saudi Equity Fund: https://cma.org.sa/en/Market/NEWS/Pages/CMA_N_3820.aspx

Alwazn Almithali for Trading Company: https://cma.org.sa/en/Market/NEWS/Pages/CMA_N_3821.aspx

Jamjoom Fashion Trading Company: https://cma.org.sa/en/Market/NEWS/Pages/CMA_N_3822.aspx

Consolidated Gruenenfelder Saady Holding Company: https://cma.org.sa/en/Market/NEWS/Pages/CMA_N_3827.aspx

AlRamz Real Estate Company: https://cma.org.sa/en/Market/NEWS/Pages/CMA_N_3828.aspx

Cherry Trading Company: https://cma.org.sa/en/Market/NEWS/Pages/CMA_N_3824.aspx

• CMA Licenses Sharaka Capital Company to Conduct Securities Advisory Activities

  • The CMA granted Sharaka Capital Company a license to provide advisory services within the securities business after the company fulfilled all commencement requirements. The license enables Sharaka Capital to offer regulated advisory activities in the Saudi capital market, supporting the development of the Kingdom's financial services sector.

Source: CMA

• CMA Seeks Public Consultation on Offshore Securities Business License Framework

  • The CMA invited public feedback on a draft regulatory framework for the Offshore Securities Business License. The proposed framework aims to enhance Saudi Arabia's role as a regional and global financial hub by allowing capital market institutions to conduct securities activities outside the Kingdom under a dedicated license.

Source: CMA

• CMA Announces Conviction of 10 Investors for Capital Market Law Violations

  • The CMA announced that the Appeal Committee for Resolution of Securities Disputes issued final decisions against ten investors for violating the Capital Market Law and its Implementing Regulations. Penalties imposed include fines totalling SAR 860,000 and restitution obligations exceeding SAR 96 million, underscoring the CMA's commitment to market integrity and investor protection.

Source: CMA

Qatar

Qatar Central Bank (QCB)

• QCB Issues Government Bonds and Sukuks on Behalf of Ministry of Finance

  • QCB successfully issued a new round of government bonds and sukuks, representing part of its ongoing debt management and fiscal policy strategy, in collaboration with the Ministry of Finance. This issuance is intended to deepen Qatar's capital markets and provide secure investment options for institutions, helping maintain financial stability and diversified funding sources for government financing.

Source: QCB

Qatar Financial Centre Regulatory Authority (QFCRA)

• QFCRA enacts Corporate Sustainability Reporting and Technical Amendments Rules 2025

  • The QFCRA issued the Corporate Sustainability Reporting and Minor and Technical Amendments Rules 2025, introducing a framework aligned with the International Sustainability Standards Board (ISSB) standards. The rules apply to Category A firms and others designated by the authority, requiring disclosures on sustainability-related financial information. The amendments also include technical updates across various rulebooks to enhance regulatory clarity and efficiency.

Source: QFCRA

Qatar Financial Markets Authority (QFMA)

• QFMA showcases capital market developments at international conferences

  • QFMA, in collaboration with Qatar Stock Exchange and Edaa, participated in the 4th HSBC GCC Conference and the Qatar Investment Forum in London. The delegation highlighted recent regulatory reforms, technological advancements, and the growing appeal of Qatar's capital market to global investors, reinforcing the country's commitment to enhancing its financial sector's competitiveness.

Source: QFMA

• QFMA Publishes its 2024 Annual Report Highlighting Regulatory Achievements

  • The QFMA issued its 2024 Annual Report, summarising significant regulatory developments, including the introduction of new rules such as Insider Trading Rules, and amendments to existing frameworks such as share ownership and dividend distribution. The report outlines completed acquisitions worth QAR 583 million and highlights QFMA’s efforts to enhance governance, transparency, AML/CFT compliance, and Qatarization initiatives within financial market entities.

Source: QFMA

Kuwait

Central Bank of Kuwait (CBK)

• CBK Issues Draft Open Banking Regulatory Framework

  • The CBK released a draft Open Banking Regulatory Framework aimed at regulating open banking services and introducing a suitable infrastructure for the Kuwaiti banking and financial sector. This initiative seeks to bolster cooperation between local banks and FinTech firms, enhancing financial services that support digitization and contribute to the growth of the national economy.

Source: CBK

Capital Markets Authority (CMA) Kuwait

• CMA Issues Circular to Foreign Bank Branches on Securities Activities

  • The CMA issued Circular No. (14) of 2025, providing guidance to branches of foreign banks licensed to conduct securities activities in Kuwait. The circular emphasizes adherence to local regulatory requirements and aims to enhance supervisory mechanisms in line with international best practices.

Source: CBK

Bahrain

Central Bank of Bahrain (CBB)

• CBB Governor Participates in HSBC GCC Exchanges 2025 Conference

  • H.E. Khalid Humaidan, Governor of the CBB, participated in the opening session of the HSBC GCC Exchanges 2025 Conference in London. The session titled “Bahrain’s Financial Sector: Reform Momentum, Market Confidence and Talent-Led Growth” highlighted Bahrain's financial sector developments and reform initiatives aimed at enhancing market confidence and attracting investment.

Source: CBB

Oman

Central Bank of Oman (CBO)

• CBO Issues Regulatory Framework for Digital Banks

  • The CBO introduced a regulatory framework for licensing and supervising digital banks, allowing them to operate as locally incorporated entities or branches of foreign banks. The framework sets out capital requirements, governance standards, and operational guidelines to ensure the stability and integrity of digital banking services.

Source: CBO

Asia-Pacific Regulatory Develpments

Hong Kong

Hong Kong Monetary Authority (HKMA)

• HKMA Intervenes to Defend Currency Peg

  • The HKMA intervened in the foreign exchange market, spending HK$9.4 billion to support the Hong Kong dollar as it approached the lower limit of its trading band, aiming to maintain the currency peg and ensure financial stability.

Source: HKMA

Securities and Futures Commission (SFC)

• SFC and HKMA Update Financial Services Providers List Under OTC Derivatives Regime

  • The SFC and HKMA concluded annual updates to the list of Financial Services Providers under the over-the-counter derivatives clearing regime, ensuring the list reflects current market participants and compliance standards.

Source: SFC

Insurance Authority (IA)

• IA Issues Guideline on Valuation and Capital Requirements

  • The IA released Guideline GL36, outlining valuation and capital requirements for authorized insurers, aiming to enhance the financial soundness and stability of the insurance sector.

Source: IA

Singapore

Monetary Authority of Singapore (MAS)

• MAS imposes composition penalties on five major payment institutions for AML/CFT breaches.

  •  MAS imposed penalties totaling S$960,000 on five licensed major payment institutions for breaches of anti-money laundering and countering financing of terrorism requirements. Breaches included inadequate customer due diligence, failure to screen customers against relevant risk sources, and incomplete cross-border wire transfer information, exposing institutions to heightened financial crime risk. Institutions must implement effective remediation measures.

Source: MAS

• MAS and ABS announce incorporation of Singapore Payments Network (SPaN) to enhance governance of national payment schemes.

  • MAS and ABS jointly established the Singapore Payments Network (SPaN), a not-for-profit entity tasked with managing national and cross-border payment schemes. SPaN aims to centralize governance, support continuous innovation, and improve collaboration within the payments industry, ensuring greater resilience and alignment with Singapore’s national payment strategy.

Source: MAS

• MAS clarifies licensing and regulatory scope for Digital Token Service Providers (DTSPs).

  • MAS provided clarification regarding the regulatory scope for Digital Token Service Providers (DTSPs). Effective 30 June 2025, DTSPs serving customers exclusively outside Singapore must obtain a license or cease operations due to higher AML risks and supervisory challenges. Providers offering services within Singapore remain regulated under existing frameworks. Utility and governance token providers are exempt.

Source: MAS

• MAS and SPF announce blocking of two unregulated overseas online trading platforms.

  • MAS and SPF have blocked access to two unregulated online trading platforms, Octa and XM, for breaching the Securities and Futures Act by offering leveraged foreign exchange trading and other securities without licenses. The action aims to protect consumers from financial losses and fraudulent activities associated with unlicensed trading platforms targeting Singaporean residents.

Source: MAS

Japan

Financial Services Agency (FSA)

• FSA Finalizes Third Revision of Japan’s Stewardship Code

  • The FSA finalized the third revision of Japan’s Stewardship Code, emphasizing responsible institutional investor engagement and sustainable corporate growth.

Source: FSA

European Union Regulatory Developments

European Securities and Markets Authority (ESMA)

• ESMA Updates Guidelines on Market Abuse Regulation

  • ESMA published updated guidelines to enhance the implementation of the Market Abuse Regulation, aiming to strengthen market integrity.

Source: ESMA

• ESMA Provides Advice and Recommendations to Streamline Prospectuses

  • ESMA published technical advice to the European Commission aimed at simplifying the content and format of prospectuses. The recommendations seek to reduce regulatory burdens and facilitate capital market activity, including insights from the Call for Evidence on civil prospectus liability.

Source: ESMA

• ESMA Publishes Principles for Third-Party Risk Supervision

  • ESMA released newly developed principles on supervising third-party risks to support a common and effective EU-wide supervisory culture. These principles aim to enhance the oversight of outsourced services and third-party arrangements in the financial sector.

Source: ESMA

• ESMA Publishes Final Report on Active Account Requirement under EMIR 3

  • ESMA published its final report on the Regulatory Technical Standards specifying conditions under which the active account requirement should be met, as mandated under EMIR 3. The report includes streamlined operational conditions and stress-testing requirements in response to public consultation feedback.

Source: ESMA

• ESMA Consults on Methodology for Computing EU Member States’ Market Capitalisation and Ratios

  • ESMA launched a consultation on the methodology for calculating market capitalisation and market capitalisation ratios, as mandated by the FASTER Directive. The consultation seeks to standardize calculations across EU Member States.

Source: ESMA

• ESMA Invites Feedback on How to Simplify Funds’ Data Reporting

  • ESMA launched a discussion paper to gather feedback on integrating funds reporting, aiming to reduce the burden for market participants. The paper outlines options for improving different aspects of the reporting framework.

Source: ESMA

• ESMA Consults on Margin Transparency and Cost of Clearing

  • ESMA launched two public consultations following the review of EMIR 3, focusing on the type of information to be disclosed by clearing service providers regarding costs and fees, and requirements related to margin simulation tools.

Source: ESMA

• ESMA Provides Guidance on a Key Tool for CCP Resolution

  • ESMA published its first CCP resolution briefing to support National Resolution Authorities on the operationalisation of the cash call mechanism, providing a methodology for including the resolution cash call in CCP resolution plans.

Source: ESMA

• ESMA Provides Advice on Eligible Assets for UCITS

  • ESMA published its advice to the European Commission on the review of the UCITS Eligible Assets Directive, providing a comprehensive assessment and proposals to ensure regulatory clarity and uniformity across jurisdictions.

Source: ESMA

• ESAs Launch Consultation on How to Integrate ESG Risks in Financial Stress Tests for Banks and Insurers

  • The ESAs launched a public consultation on draft Joint Guidelines on ESG stress testing, aiming to harmonize methodologies and practices among competent authorities for integrating ESG risks in supervisory stress tests for banks and insurers.

Source: ESMA

• ESMA Finds Improvements Needed in Supervision of Sustainability Risks and Disclosures

  • ESMA published its report on the Common Supervisory Action carried out with National Competent Authorities on the integration of sustainability risks and disclosures in the investment management sector, finding that while compliance is generally satisfactory, improvements are needed in several areas.

Source: ESMA

European Banking Authority (EBA)

• EBA Launches Consultation on AML/CFT Guidelines

  • The EBA initiated a public consultation on revised guidelines for anti-money laundering and countering the financing of terrorism, seeking stakeholder input.

Source: EBA

Switzerland

Swiss Financial Market Supervisory Authority (FINMA)

• FINMA Issues Warning on Increased Phishing Activity

  • FINMA has alerted Financial Institutions and the public about a recent surge in phishing emails falsely claiming to originate from FINMA. The regulator urged increased vigilance to prevent cybersecurity incidents and fraud.

Source: FINMA

• René W. Keller Resigns from FINMA’s Board of Directors

  • FINMA announced the resignation of René W. Keller from its Board of Directors. The Federal Council was officially informed during its meeting held on June 25, 2025.

Source: FINMA

• SEC Resumes Processing Applications from Swiss Asset Managers

  • FINMA confirmed that the U.S. Securities and Exchange Commission (SEC) will recommence processing applications from Swiss asset managers supervised by FINMA who wish to operate as Registered Investment Advisers (RIAs) in the United States.

Source: FINMA

• FINMA Supports Federal Council's Proposed Measures on Banking Stability

  • FINMA publicly supported new measures proposed by the Federal Council aiming to enhance banking stability. These measures involve significant amendments to the Banking Act to reinforce financial stability and resilience.

Source: FINMA

• FATF Updates Statements on High-Risk and Monitored Jurisdictions

  • Following its June 2025 plenary meeting, the Financial Action Task Force (FATF) updated its statements regarding high-risk and other monitored jurisdictions. FINMA advises Financial Institutions to consult the updated FATF statements to ensure compliance.

Source: FINMA

United Kingdom Regulatory Developments

Financial Conduct Authority (FCA)

• FCA Introduces Major Advice Reforms to Aid Financial Navigation

  • The FCA announced significant changes to financial advice regulations, aiming to help millions of consumers better navigate their financial lives.

Source: FCA

Prudential Regulation Authority (PRA)

• PRA Publishes Second Report on Competitiveness and Growth

  • The PRA released its second report detailing actions taken to advance its secondary objectives of competitiveness and growth in the financial sector.

Source: BoE

United States Regulatory Developments

Securities and Exchange Commission (SEC)

• SEC Extends Compliance Date for Daily Reserve Computation Requirement

  • The SEC announced a six-month extension for broker-dealers to comply with the daily reserve computation requirement, allowing additional time for system testing and implementation.

Source: SEC

Commodity Futures Trading Commission (CFTC)

• CFTC and SEC Extend Compliance Date for Form PF Amendments

  • The CFTC and SEC jointly extended the compliance date for amendments to Form PF, providing additional time for large hedge fund advisers to adapt to new reporting requirements.

Source: CFTC

Office of the Comptroller of the Currency (OCC)

• OCC Releases June 2025 Enforcement Actions

  • The OCC published enforcement actions taken against national banks and federal savings associations, including civil money penalties and cease-and-desist orders.

Source: OCC

Financial Industry Regulatory Authority (FINRA)

• FINRA Board Approves Rule Proposals and Advisory Appointments

  • FINRA's Board of Governors approved two rule proposals, appointed new Advisory Committee members, and discussed long-term financial planning and cybersecurity initiatives.

Source: FINRA

For further insights and tailored regulatory guidance, reach out to j. awan & partners.

Email: info@jawanpartners.com