Financial Requirements


In this section, the rules and regulations regarding financial requirements for Operators are addressed.

The administration needs to be in order at all times, the Operator needs to be Solvent

The Operator needs to make sure that its financial statements are in order. It needs to comply with audits and it needs to be sufficiently solvent. The Operator shall be solely responsible for issues of Solvency, including however not limited to Payouts and Bonuses.

For this purpose, the Operator is required to verify and have proof on file that, to the best of its knowledge:
(i) its yearly balance sheets comply with all principles with local and international taxation;
(ii) the Operator is sufficiently Solvent, as meant in article 17 of the Ordinance;
(iii) the Operator has fulfilled all of its filing requirements, pertaining taxation, such as however not limited to profit tax, wage tax and turnover tax;
(iv) the Operator is not regarded as a tax resident in any other country than Curaçao; (v) the Operator is holding an amount of equity capital appropriate to adequately perform all Operations, including risks already incurred.

At all times, CEG has the option to Audit the financial statements and Administration of the Operator, costs are to be borne by the Operator.

The use of Crypto and CFD’s

The Operator shall not be allowed to make use of Crypto Currency in the offering of B2C Services to End Users without explicit approval in writing by the Aggregator. Failure to have obtained such approval shall qualify as a Material Breach.

The Operator shall not in any way engage into the offering of Contracts for Difference (“CFD’s”). Failure to comply with this Clause shall qualify as a Material Breach.