Who does what
Amarah is a technology company. Orders are executed and securities are held by our US partner broker.
This article explains the role of each party and the rules that apply. It is general information, not legal advice.
Our partner broker's regulation (FINRA & SEC)
Amarah partners with a US broker-dealer that is a registered member of FINRA (Financial Industry Regulatory Authority) and a member of SIPC (Securities Investor Protection Corporation). FINRA is the self-regulatory organisation that supervises US broker-dealers. SIPC protects customers of a member broker if that broker fails, within certain limits; it does not protect against market losses.
The SEC (Securities and Exchange Commission) oversees the US securities markets. Our partner broker is registered with the SEC.
CEMAC exchange control regulations
Cameroon is part of the CEMAC (Central African Economic and Monetary Community) zone, which has rules on cross-border capital flows and foreign exchange.
How these rules apply to an individual investing in foreign securities depends on the amounts and channels involved. If you have a question about your own situation, ask a qualified professional.
What about taxes?
Cameroonian tax residents may be required to declare foreign investment income (dividends and capital gains) in their annual tax filing. The specifics depend on your individual situation and applicable double-taxation treaties.
We recommend consulting a local tax professional for personalised advice. Amarah provides you with an annual transaction statement to simplify your reporting.
KYC: why we verify your identity
Before you can invest, we verify the identity of every user. This process, called Know Your Customer (KYC), takes about 3 minutes and requires a valid government-issued ID.
KYC helps protect your account against identity theft, and helps protect the financial system against money laundering and fraud.
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