UK Watchdog Starts Including Scams in Financial Register for the First Time

Regulatory updates from two ends of the earth were announced today. The UK Financial Conduct Authority (FCA) Financial Conduct Authority (FCA) The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol Read this Term) has launched a new Financial Services Register, and the Hong Kong Securities and Futures Commission (SFC) has issued warnings against two unlicensed entities.

The new British Register is designed to make it easier to find information on firms, individuals and other bodies that are, or have been, regulated by the FCA or the Bank of England's Prudential Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term Authority.

Interestingly, firms that the FCA have been told are providing regulated products or services without the required authorisation – or that are knowingly running a scam – are included in the Register for the first time.

These firms are highlighted in search results by red text and a warning symbol to make clear that the FCA thinks that the public should avoid dealing with them or any of the individuals involved. Further information on unauthorised firms includes the different details being given out by them, and whether they are falsely claiming to be from a genuine, authorised firm.

Hong Kong Watchdog Warnings

Meanwhile, in Hong Kong today the financial markets regulator issued warnings about the binary options brand OptionRally and an MT4 broker called Market Big Bear. The firms in question seem to have been allegedly operating in the Chinese territory without the appropriate license.

Regarding OptionRally, the SFC says that the company gives out a Hong Kong address, but it is not actually located there. The company is also listed on the Investors Warning List of the Ontario Securities Commission, the Investment Caution List of the British Columbia Securities Commission and the Warning List of the Swiss Financial Market Supervisory Authority.

As for Market Big Bear, the group behind the brand is located in Belize but provides a Hong Kong telephone number and fax number on its website. It also uses a Hong Kong bank account for settlement.