The company said Admirals MENA had applied for the cancellation of its licence to deal in investments as principal, a move it described as part of a broader strategy to streamline its international footprint and focus on markets offering the greatest potential for sustainable growth.
Following the application, the FSRA approved the cancellation of the FSP.
In a brief statement, Admirals said the decision “underscores Admirals Group AS’s continued strategic focus on optimising its global operations and concentrating resources in regions with the strongest potential for sustainable growth and operational excellence.”
Admirals Group, which provides multi-asset trading and investment services, has been consolidating its operations amid an increasingly competitive regulatory landscape.
In September, Admiral Markets AS said it had entered into an agreement to divest its wholly owned subsidiary, Admiral Markets AS (Jordan) Ltd, a licensed investment firm, as part of the group’s strategy to refine its geographic footprint and align operations with its long-term priorities.
