AFEP Membership

About AFEP membership

AFEP membership is available to all API and EMIs who are registered with the FCA, have a MLR number from the HMRC (if applicable) and agree to abide by the AFEP guiding principles.

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.

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

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.

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.

Over the last year we have been working on creating Good Practice Guidance which is designed to increase standards in the industry and covers: • Safeguarding • Capital Liquidity Requirements • AML – Risk Assessments and Approach • Customer Interest and Conflicts of Interest • Customer Communications • Risk Management • Corporate Governance

AFEP have a strong committee of industry professionals and we lobby 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.

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 2019-20 is £1,110. There is no VAT charge

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 is £1100. There is no VAT charge.

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.

Advisory membership

Advisor members are firms such as consultants, lawyers who provide support and advise to APIs and EMIs.

Advisory members are encouraged to contribute to AFEP projects such as the Good Practice Guidance and assist us with holding member meetings, and as a result get a discount of 50% on membership fees for the year 2019-20.

Become a member

Get Started
Application process

If you would like to join AFEP, please follow the steps below.

  1. Register your Company with the site using the Get Started button above and selecting the right type of membership.
  2. We will send you the appropriate application form for the type of membership you need and explain the next steps.
  3. Once payment has been made you will be given access to our secure login area and receive details of our next member event.
  4. Individuals who wish to register for membership must first ensure their Organisation is signed up to membership. This could be through employment with an API/EMI or through an Advisory company.

If you have any problems, please email Liz Allison our Operations Manager - liz.allison@afep.co.uk.

Benefits of joining AFEP
  • A strong committee of industry professionals lobbies key regulators including the FCA, HMRC and FOS on your behalf. 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 newsletters and updates via the secure members’ portal you will be kept up to date on all issues affecting your business.
  • Regular events enable members to get together, network, exchange non-competitive information and discuss any issues or concerns.