Prishani Maheeph-Moonsamy has joined Capital.com as Head of
Compliance for South Africa. She disclosed the appointment in a LinkedIn post shared today (Monday). In the post, she said she was “pleased to share that I’ve put down
professional roots at Capital.com as Head of Compliance (South Africa).”
Her appointment follows IG
Group’s decision last year to wind down its onshore business in South Africa.
The broker informed local clients that rand-denominated domestic trading
accounts would be discontinued, while offshore accounts would remain available.
The company did not disclose the reasons for the move.
South African Compliance Executive Joins Capital.com
Maheeph-Moonsamy spent more than two years at IG Group,
where she served as Head of Compliance for two years and nine months. The role
was based in Johannesburg and focused on regulatory and financial crime
compliance.
Before joining IG Group, she held senior compliance roles at
FXCM. She worked as Head of Compliance for South Africa and Australia for nine
months and previously served as Compliance Associate and Country Head for
eleven months.
Earlier in her career, she spent five and a half years at
Nedbank. She worked as Compliance Manager in Business Banking for one year and
seven months and was approved by the Financial Sector Conduct Authority under
Phase One and Phase Two. Prior roles at the bank included Market Conduct
Compliance Specialist for just over three years and Compliance Officer for
eleven months.
CFD Brokers Enter South African Market
Earlier, Capital.com
applied for a licence in South Africa. The broker is also pursuing licences
in Japan and Turkey and hiring executives for Brazil and Chile. Founded in 2017
by Viktor Prokopenya, Capital.com offers CFDs under regulatory authorisation in
the UK, Australia, Cyprus, the UAE, and the Bahamas.
The company’s South African plans come as the local CFD
market continues to expand. Several brokers have recently secured OTC
Derivatives Products licences to operate in the country. These include EBC
Financial, Mitrade, and Monaxa, alongside CFI and XS. Exness
also opened a regional hub in Cape Town as part of its local operations.
This article was written by Tareq Sikder at www.financemagnates.com.
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