Doo Financial Obtains Licenses in BVI and Cayman Islands

Doo Financial, a subsidiary of Singapore-based Doo Group, has expanded its regulatory footprint by securing new offshore licenses from the British Virgin Islands Financial Services Commission (BVI FSC) and the Cayman Islands Monetary Authority (CIMA).

Doo Financial Fund Management (BVI) Limited, known as DF BVI, has been authorised by the BVI FSC under a Certificate of Approval for Investment Managers. This license permits DF BVI to act as an investment adviser or manager for private funds, professional funds, and closed-end funds. The authorisation aligns with regulation 9 of the Investment Business (Approved Investment Managers) Regulations 2012, underscoring the firms commitment to operating within established regulatory frameworks.

Another entity under Doo Financial, Doo Selected SPC Fund, has also achieved a significant milestone by obtaining a public fund license from CIMA. With this license, the fund is authorised to offer flexible public fund management services while adhering to stringent regulatory standards. The company has indicated its intent to leverage this new capability to identify global investment opportunities and manage associated risks effectively.

These licenses mark a strategic expansion for Doo Financial as it aims to strengthen its presence in the international financial markets. The company plans to use these offshore authorisations to enhance its service offerings and tap into new markets.

Doo Group operates several online trading and financial services brands, including Doo Prime, Doo Clearing, and Doo Financial. It is led by Junjie Chen, a Chinese national. The group has established itself as a key player in the online brokerage industry, offering a wide range of services to its global clientele.

In addition to the newly acquired licenses, entities under Doo Financial hold a diverse array of regulatory authorisations. These include licenses issued by prominent financial authorities such as the US Securities and Exchange Commission (US SEC), the US Financial Industry Regulatory Authority (US FINRA), and the Australian Securities and Investments Commission (AU ASIC). The company is also regulated by the Hong Kong Securities and Futures Commission (HK SFC), the Labuan Financial Services Authority in Malaysia, the Monetary Authority of Singapore (SG MAS), and Indonesia's Commodity Futures Trading Regulatory Authority (BAPPEBTI). The latter was obtained following the acquisition of Prima Tangguharta Futures, further solidifying the group's presence in Southeast Asia.