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FCA Cracks Down on SVS Securities Executives for Pension Fund Mismanagement
- They face fines and bans for allegedly investing £69.1 million of customer funds in high-risk bonds.
- According to the FCA, SVS execs prioritized company profits over client interests.
Monday, 24/06/2024 | 09:23 GMT by
Damian Chmiel
FCA and Police Collaborate in Arrests over Suspected Illegal Crypto Exchange
- Authorities seized devices and interviewed suspects, who were then released on bail.
- The exchange allegedly facilitated over £1 billion in unregistered crypto asset transactions.
Thursday, 20/06/2024 | 10:13 GMT by
Tareq Sikder
Court Sentenced Him to 4 Years in Prison, Now FCA Urges Investors to Claim Compensation
- The regulator calls on victims of Hudson's fraudulent activities to claim their share of court-ordered compensation.
- He was sentenced to 4 years behind bars in 2021 for his operations.
Thursday, 20/06/2024 | 07:43 GMT by
Damian Chmiel
FCA Flags Clone Firm Impersonating Admiral Markets UK
- The fraudulent firm operates under the name admrlmrkts.co and uses several email addresses, including support@admrlmrkts.co.
- The clone firm is reportedly contacting unsuspecting individuals using contact details similar to those of the legitimate company.
Thursday, 13/06/2024 | 18:58 GMT by
Jared Kirui
FCA Fines HSBC £6.28 Million over Customer Treatment Failures
- From June 2017 to October 2018, HSBC's actions resulted in insufficient consideration of customers' circumstances.
- The company invested £94 million and disbursed £185 million in redress payments to address the identified issues.
Thursday, 23/05/2024 | 11:04 GMT by
Tareq Sikder
Brokers Face Heavy Crackdown on Ads: Can Compliance Automation Be a Solution?
- A trading affiliate violated CAP codes by not including risk warnings in their marketing for reputable brands, as shown by Rightlander scans.
- In 2022, the UK financial watchdog blocked 8,600 ads on Instagram, YouTube, and Facebook promising quick profits and guaranteed returns.
Monday, 20/05/2024 | 10:37 GMT by
Sarafina Wolde Gabriel
FCA, BaFin Warns against These Unregistered Financial Service Providers
- The companies include Global Sky Trading, Supermininfx.ltd, EliteGlobalMiners, FlowsGlobal, LegitimateFxPro.com, and Solid-Trades Unit.
- Elsewhere, BaFin has warned against Trade211.com for providing unauthorized financial services.
Friday, 10/05/2024 | 14:08 GMT by
Jared Kirui
FCA "Name and Shame" Policy: Regulator Attributes to Numerous Inquiries from Legislators
- The regulator's CEO, Nikhil Rathi, appeared before the House of Commons Treasury Select Committee today (Wednesday).
- FCA receives approximately 650 letters yearly from Members of Parliament inquiring about ongoing investigations.
Wednesday, 08/05/2024 | 18:41 GMT by
Jared Kirui
UK Chancellor Jeremy Hunt Clashes with FCA over Controversial “Name and Shame” Policy
- He joins the voices arguing that the FCA's plan could hinder economic growth.
- The debate underscores the increasing tension between the government and the regulator.
Wednesday, 01/05/2024 | 10:29 GMT by
Damian Chmiel
FCA Approval Expands Stratiphy's Retail Offerings with Customized Portfolios
- The firm has become FCA's first approved independent wealth manager for retail client investments.
- It now can offer tailored portfolios to retail investors, diverging from tradition and unlocking growth.
Wednesday, 01/05/2024 | 08:46 GMT by
Tareq Sikder
Even Ministers Believe FCA's "Name and Shame" Policy Will Harm the City of London
- Critics from the private and public sectors argue that the move could unfairly damage reputations.
- Specifically, the FCA's investigations last an average of 4 years, and 65% conclude end without any resulting action.
Wednesday, 24/04/2024 | 08:28 GMT by
Damian Chmiel
FCA Acts: Kent Resident Faces £2.67M Investment Scheme Charges
- The allegations center around involvement in an unauthorized investment scheme named 'Kube Trading'.
- The FCA has planned to enhance transparency by divulging more about its investigations into companies earlier.
Tuesday, 23/04/2024 | 14:45 GMT by
Tareq Sikder
FCA Flags Suspected Clone Firm Impersonating Legitimate Forexeze Limited
- The regulator said that the clone firm operates using the names forexeze.com and forex-eze.com.
- The clone entity uses email addresses such as info@forexeze.com and support@forex-eze.com.
Friday, 19/04/2024 | 20:18 GMT by
Jared Kirui
This Company Sidesteps £50 Million Fine, as FCA Wants to Compensate More Investors
- The regulator finds Link Fund Solutions mismanaged Woodford Equity Income Fund.
- However, it will not impose a multimillion-pound fine to give more money back to investors.
Thursday, 11/04/2024 | 09:15 GMT by
Damian Chmiel
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