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The Financial Conduct Authority (FCA)

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Retail FX

UK Banks to Pay £47M in Redress to Struggling Borrowers

  • The UK regulator found over 195,000 stressed customers.
  • It now wants to make pandemic-era rule permanent.
Thursday, 25/05/2023 | 10:33 GMT by Arnab Shome
Retail FX

24HR Trading Academy Victims Lost £1.3M; Court Approves £106K Refund

  • Only investors with losses above £500 are to be paid.
  • The FCA initiated a case against Mohammed Maricar, the scheme operator, in April 2020.
Wednesday, 17/05/2023 | 14:38 GMT by Solomon Oladipupo
Retail FX

UK Flags Plus500 Clone, Italy Blocks ‘XTB Empire,’ 3 Others

  • The clone operates via www.fxplus500.co.uk.
  • Italy's CONSOB blacklisted 'VirtuFinance', Activ4X and Goldy Deal.
Friday, 12/05/2023 | 13:43 GMT by Solomon Oladipupo
Retail FX

News Nuggets | 9 May: LSEG Taps OpenFin; New eToro Portfolio

  • Also, United Fintech increased its stake in TTMzero and FCA's new warning.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Tuesday, 09/05/2023 | 11:15 GMT by Finance Magnates Staff
FinTech

FCA Fines Banque Havilland £10M for Qatar-Targeted 'Manipulative Trading' Doc

  • The doc allegedly contains trading strategies that could hurt the Qatari economy.
  • The watchdog also imposed various fines on three ex-employees of the London branch.
Friday, 05/05/2023 | 21:23 GMT by Solomon Oladipupo
CryptoCurrency

FCA Cracks Down on Crypto ATMs in Three UK Cities

  • It has gathered evidence and will decide on further action.
  • The agency is not authorizing any crypto ATM operators in the country.
Friday, 05/05/2023 | 10:35 GMT by Arnab Shome
Retail FX

News Nuggets | 4 May: FCA on Whistleblower; Equinix's Q1 Results

  • Also, Iress' partnership with Kaiko and Consob's warning list.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Thursday, 04/05/2023 | 10:13 GMT by Finance Magnates Staff
Retail FX

FCA Finds “Gaps in Surveillance” among UK CFDs Providers

  • The FCA found weak surveillance of market manipulation and abuse of non-equity asset classes.
  • However, most of the regulator's findings 'were largely positive'.
Wednesday, 26/04/2023 | 16:41 GMT by Solomon Oladipupo
Retail FX

News Nuggets | 19 April: Maoz Tenenbaum Leaves Leverate; Cornerstone's Revenue

  • Also, RoboForex adds a new feature to copy trading; and a partnership between Worldline and Crédit Agricole.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Wednesday, 19/04/2023 | 10:46 GMT by Finance Magnates Staff
Retail FX

Duty Calls: How to Prepare to FCA's New Regulation

  • A new milestone of UK's "consumer duty" will come into effect on April 30.
  • What is the duty, What documentation would I need and what to do if I'm not prepared - questions and answers.
Tuesday, 18/04/2023 | 08:28 GMT by Lewis Gurry
Retail FX

UK Regulator Flags Down Saxo 24 FX, One Zero Trade

  • The FCA did not state if they are clones of Saxo Bank and OneZero Financial.
  • The British regulator is seeking greater investor protection with its three-year strategy.
Friday, 14/04/2023 | 20:27 GMT by Solomon Oladipupo
Retail FX

News Nuggets | 6 April: FCA Stops WealthTek; RoboForex Increases Partner Commissions

  • Also, Binance, Justin Sun, Fortex and more.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Thursday, 06/04/2023 | 08:15 GMT by Finance Magnates Staff
Institutional FX

FCA Permits ‘Synthetic’ US Dollar LIBOR ‘For a Short Period’ after June

  • The approval comes four months after FCA proposed 'synthetic' US dollar LIBOR settings.
  • The temporary benchmark will take effect from July 1, 2023.
Monday, 03/04/2023 | 13:40 GMT by Solomon Oladipupo
Brokers

SVS Saga Ends as the Collapsed Broker Enters Dissolution

  • The broker was placed under special administration in August 2019.
  • Over 99 percent of SVS clients were transferred to ITI Capital.
Friday, 31/03/2023 | 11:20 GMT by Arnab Shome
Retail FX

FCA Announces Joint Executive Directors for Enforcement and Market Oversight

  • Chambers and Smart will replace Steward.
  • Smart joins from the NCA, and Chambers has many years of experience from the FCA.
Thursday, 23/03/2023 | 12:31 GMT by Damian Chmiel
FinTech

FCA Scolds Payment Firms over 'Lack of Controls'

  • The regulator said some firms are posing "unacceptable risks" to customers.
  • The FCA has also seen evidence of "elevated fraud rates" among some firms.
Friday, 17/03/2023 | 20:43 GMT by Solomon Oladipupo
FinTech

Amidst Industry Rejig, UK Regulator Approves First Long-Term Asset Fund

  • The development dates back to finalization of rules for the new fund in October 2021.
  • The FCA worked with BoE and HM Treasury to break a barrier against long-term asset investment.
Thursday, 09/03/2023 | 13:23 GMT by Solomon Oladipupo
Institutional FX

Market Infrastructure Providers Greenlight BoE, FCA Supervision

  • The FCA is also seeking to enhance the UK's asset management laws.
  • Moreover, the markets supervisor is planning a new financial promotions regime.
Friday, 24/02/2023 | 16:22 GMT by Solomon Oladipupo
Retail FX

FCA to Compensate 24HR Trading Academy Victims

  • The scheme operator had to declare bankruptcy after failing to pay the penalty.
  • The FCA initially brought the case against Mohammed Maricar in April 2020.
Friday, 24/02/2023 | 10:58 GMT by Arnab Shome
Retail FX

FCA Wants to Recover Money from Argento Wealth

  • The FCA commenced High Court proceedings against AWL.
  • AWL is not, and never has been, an FCA-authorised firm.
Tuesday, 07/02/2023 | 13:09 GMT by Damian Chmiel
CryptoCurrency

FCA Seeks Crypto Firms' Preparedness for Upcoming Promotions Regime

  • The new rules will apply to local and overseas crypto firms targeting UK consumers.
  • Breaches of the four promotional channels will bring criminal charges.
Monday, 06/02/2023 | 11:44 GMT by Arnab Shome
FinTech

UK Regulator Clamps Down on 1,400% More Rogue Financial Ads in 2022

  • The FCA published over 1,800 scam alerts last year.
  • The regulator says it will introduce new consumer duty obligations in July.
Friday, 03/02/2023 | 19:27 GMT by Solomon Oladipupo
Retail FX

UK FCA Warns against Clone of FX Broker Axi

  • AxiCorp owns both Axi and One Financial Markets.
  • The FCA clamped down on a number of clone companies in 2022.
Thursday, 02/02/2023 | 15:11 GMT by Solomon Oladipupo
Retail FX

FCA’s Financial Ombudsman Zahida Manzoor to Serve Second Term

  • Manzoor was initially appointed as an FOS Chair in 2019.
  • The second term of office lasts until 2025.
Monday, 30/01/2023 | 11:40 GMT by Damian Chmiel
Institutional FX

Boutique Wealth Manager EXANTE Secures FCA License, Launches in UK

  • The boutique brokerage hopes to establish its headquarters in London.
  • A number of firms gained and lost their FCA licenses last month.
Friday, 20/01/2023 | 22:35 GMT by Solomon Oladipupo
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