Capital Market Authority of Montenegro

Institutional:  

Government agency.  

Institutional History:

Founded in 2000, SCMN became a full member of IOSCO in April 2005 and signed the Multilateral Memorandum of Understanding and Cooperation (Anti-Money Laundering and Financing of Terrorism) and the Memorandum of Understanding on Alternative Investment Funds with regulators in several countries and regions.  

Regulatory Functions:

Regulates the issuance and trading of securities in accordance with the rules of the International Organization of Securities Commissions (IOSCO) and the European Securities and Markets Authority (ESMA).  

Regulatory Framework: Law on Capital Markets of Montenegro

Account Opening for Overseas Customers: N/A  

Segregation of Funds: Yes

Reporting Requirements: Annual financial report;  Audit report;  Business report;  Anti-money Laundering Report  

Record Requirements: company operation and internal organization records;  Customer complaints and handling records;  Records of investment services and activities;  Customer communication records;  Customer orders and transaction records;  Records of customer funds and financial instruments

Leverage Limit: no more than 1:100

Negative Balance Protection: Yes  

Generally speaking, SCMN-regulated broker profile will be found at the EMITENTI page on SCMN website. Try to find it and check if it will match the info from the broker website.

The detailed steps are as below:

1. Find the PIB(preferred) or name of the forex broker, which you can get from the broker's website; 

2. Enter the PIB or name into the search bar on https://www.scmn.me/en/ucesnici-na-trzistu/emitenti

When you have disputes with a SCMN-regulated broker，you can file a complaint directly at the SCMN location or via email.

Address：Kralja Nikole 27a/III，81000 Podgorica

E-mail： info@scmn.me 

Working Hours: 7:00-15:00