Authorities seized devices and interviewed suspects, who were then released on bail.
The exchange allegedly facilitated over £1 billion in unregistered crypto asset transactions.
The Financial Conduct Authority (FCA) collaborated with the
Metropolitan Police Service to apprehend two individuals, aged 38 and 44,
suspected of managing an illicit crypto asset exchange.
The operation was prompted by suspicions that the exchange
facilitated transactions exceeding £1 billion in unregistered crypto assets.
Suspects Released on Bail
The FCA conducted inspections at premises linked to the
suspects, where the police executed searches and seized multiple digital
devices from two residential properties in London.
Therese Chambers, Executive Director of Enforcement and Market Oversight, FCA, Source: LinkedIn
Following these actions, both suspects were questioned under
caution by the FCA and subsequently released on bail. The investigation by the
FCA remains ongoing. Under UK regulations, crypto asset exchange providers are
required to be registered with the FCA and adhere to anti-money laundering
protocols to operate lawfully within the country.
Therese Chambers, Executive Director of Enforcement and
Market Oversight at the FCA, said: “The FCA has an important role to play in
keeping dirty money out of the UK financial system. These arrests show we will
do everything in our power to stop crypto firms from operating illegally in the
UK.”
Alleging Fraud in High-Risk Forex and Pension Investment
Schemes
The scheme
involved unauthorized trading of high-risk Contracts for Difference (CFDs).
Other individuals are also charged with issuing unauthorized financial
promotions and are set to appear in court on June 13, 2024.
Additionally, the FCA
has charged Kristofer McGuire, Keith Williamson, and Karla Walker with
fraud connected to a high-risk trading scheme targeting pension investments in
CFDs. Victims were allegedly misled into investing, resulting in significant
financial losses exceeding £8 million.
The FCA's investigation uncovered
misleading claims about the victims' professional investor status and
detrimental trading strategies designed to generate substantial commissions.
McGuire, Williamson, and Walker are slated to appear in court to address these
charges.
The Financial Conduct Authority (FCA) collaborated with the
Metropolitan Police Service to apprehend two individuals, aged 38 and 44,
suspected of managing an illicit crypto asset exchange.
The operation was prompted by suspicions that the exchange
facilitated transactions exceeding £1 billion in unregistered crypto assets.
Suspects Released on Bail
The FCA conducted inspections at premises linked to the
suspects, where the police executed searches and seized multiple digital
devices from two residential properties in London.
Therese Chambers, Executive Director of Enforcement and Market Oversight, FCA, Source: LinkedIn
Following these actions, both suspects were questioned under
caution by the FCA and subsequently released on bail. The investigation by the
FCA remains ongoing. Under UK regulations, crypto asset exchange providers are
required to be registered with the FCA and adhere to anti-money laundering
protocols to operate lawfully within the country.
Therese Chambers, Executive Director of Enforcement and
Market Oversight at the FCA, said: “The FCA has an important role to play in
keeping dirty money out of the UK financial system. These arrests show we will
do everything in our power to stop crypto firms from operating illegally in the
UK.”
Alleging Fraud in High-Risk Forex and Pension Investment
Schemes
The scheme
involved unauthorized trading of high-risk Contracts for Difference (CFDs).
Other individuals are also charged with issuing unauthorized financial
promotions and are set to appear in court on June 13, 2024.
Additionally, the FCA
has charged Kristofer McGuire, Keith Williamson, and Karla Walker with
fraud connected to a high-risk trading scheme targeting pension investments in
CFDs. Victims were allegedly misled into investing, resulting in significant
financial losses exceeding £8 million.
The FCA's investigation uncovered
misleading claims about the victims' professional investor status and
detrimental trading strategies designed to generate substantial commissions.
McGuire, Williamson, and Walker are slated to appear in court to address these
charges.
X Open Hub’s CEO, Michal Copiuk, on the developments of AI
X Open Hub’s CEO, Michal Copiuk, on the developments of AI
CySEC’s Chairman, Dr George Theocharides, speaking at the iFX EXPO International 2024
CySEC’s Chairman, Dr George Theocharides, speaking at the iFX EXPO International 2024
CySEC’s Chairman, Dr George Theocharides, speaking at the iFX EXPO International 2024
CySEC’s Chairman, Dr George Theocharides, speaking at the iFX EXPO International 2024
FX and CFDs in Africa: Key Industry Trends | FMAS:24
FX and CFDs in Africa: Key Industry Trends | FMAS:24
As Africa joins the global financial markets, its unique economy fuels forex and CFD trading innovation. Discover growth drivers: tech advancements, regulations, and increased financial education for African traders. See how these factors enhance trading accessibility, transparency, financial inclusion, and opening new investment opportunities. Learn about the digital transformation's impact on trading –the role of technology, social platforms, and automated systems in democratizing market access.
SPEAKER: Christoforos Panagiotou, Africa Regional Manager at Fxview @Fxview
#fmas #fmas24 #fmevents #financemagnates #fintech #technology #onlinetrading #forex #investing #investors
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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As Africa joins the global financial markets, its unique economy fuels forex and CFD trading innovation. Discover growth drivers: tech advancements, regulations, and increased financial education for African traders. See how these factors enhance trading accessibility, transparency, financial inclusion, and opening new investment opportunities. Learn about the digital transformation's impact on trading –the role of technology, social platforms, and automated systems in democratizing market access.
SPEAKER: Christoforos Panagiotou, Africa Regional Manager at Fxview @Fxview
#fmas #fmas24 #fmevents #financemagnates #fintech #technology #onlinetrading #forex #investing #investors
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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Don't miss out on our latest videos, interviews, and event coverage.
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Asset Allocation & Trading in a Lower Interest Rate Environment | FMAS:24
Asset Allocation & Trading in a Lower Interest Rate Environment | FMAS:24
Traditional investment paradigms shift in a lower interest rate environment, compelling investors to reassess their asset allocation and trading strategies. This scenario prioritizes diversification beyond conventional bonds and equities. Investors should adapt by seeking assets with the potential for higher yields, considering global markets, and employing dynamic trading strategies that leverage short-term market fluctuations, all while managing risk more meticulously to safeguard returns.
SPEAKER: Roger Eskinazi, Managing Partner at Tickmill South Africa
#fmas #fmas24 #fmevents #financemagnates #fintech #technology #onlinetrading #forex #investing #investors
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
Traditional investment paradigms shift in a lower interest rate environment, compelling investors to reassess their asset allocation and trading strategies. This scenario prioritizes diversification beyond conventional bonds and equities. Investors should adapt by seeking assets with the potential for higher yields, considering global markets, and employing dynamic trading strategies that leverage short-term market fluctuations, all while managing risk more meticulously to safeguard returns.
SPEAKER: Roger Eskinazi, Managing Partner at Tickmill South Africa
#fmas #fmas24 #fmevents #financemagnates #fintech #technology #onlinetrading #forex #investing #investors
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!