WHY JOIN AFEP?

AFEP membership is available to all API and EMIs who are registered with the FCA, as well as those firms (consultants, lawyers, banks or system providers) who support the FX industry. More information on the types and costs of membership is below.

We take great pride in the diversity of our membership and encourage our members to get involved, engage in debate and make a dynamic contribution for the benefit of members.

AFEP have a strong committee of industry professionals and we work closely with key regulators including the FCA, HMRC and FOS on behalf of members. We endeavour to represent members interests and influence proposed regulations and also seek clarification and information on existing regulation.

You will receive timely updates on significant developments within the industry, such as key regulatory issues, procedural changes with government regulatory bodies, fraud alerts etc. Through regular updates via the secure members’ portal you will be kept up to date on all issues affecting your business.

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ANNUAL MEETINGS & CONFERENCES

QUARTERLY MEMBER MEETINGS

We hold quarterly meetings in central London (and will be again post COVID19!), gaining updates and insights from organisations we work closely with, for example the FCA or the Met Police.

ROUND TABLES & WEBINARS

We also organise regular round tables & webinars on topical issues to allow members to have an open discussion about critical topics related to our niche industry. Some recent round tables have been on safeguarding, fraud prevention and preparing your business for a sale.

OUR ANNUAL CONFERENCE

AFEP hold an annual Conference which is a great opportunity for members to network and share best practice to increase standards across the industry. Regular events enable members to get together, network, exchange non-competitive information and discuss any issues or concerns.

We continually work on creating Good Practice Guidance which is designed to increase standards in the industry and covers topics including:

Safeguarding

Capital Liquidity Requirements

AML – Risk Assessments and Approach

Customer Interest and Conflicts of Interest

Customer Communications

Risk Management

Corporate Governance

Types of Company membership

FULL MEMBERSHIP

Full Membership is for APIs or EMI firms operating in the Foreign Exchange industry.
Membership starts on 1st October each year and runs for twelve months through to 30th September.

The cost of full membership in 2021-22 is £2,500 plus VAT.

ADVISORY MEMBERSHIP

Advisory members are businesses such as consultants, lawyers or accountants who provide support and advise to APIs and EMIs and they pay the same membership fees as full member firms.

Advisory members are encouraged to actively contribute to AFEP projects such as the Good Practice Guidance and assist us with holding member meetings.  Active Advisory members get a discount of 50% on membership fees.

BANKING MEMBERSHIP

We recognise the valuable contribution that banks make to our industry and we are keen to engage with banks to further increase standards and understanding of our industry.

As a result we provide membership to banks at no cost.

ASSOCIATE MEMBERSHIP

Associate member firms are those who provide a service or product to the API industry such as IT systems. Membership starts on 1st October each year and runs for twelve months through to 30th September.

The cost of associate membership in 2021-22 is £2,500 plus VAT.

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