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Screenshot of a breaking news alert e-mail from Q2 2017
The UK Financial Conduct Authority (FCA) has just published its latest Data Bulletin, which includes information about the activities of the regulator regarding financial promotions.
The most recent numbers show that the FCA reviewed 1,108 financial promotions in the third quarter of 2015, that is, from July 1st to September 30th last year. Out of the total, 34 cases resulted in one or more promotions being amended or withdrawn. The retail investments sector accounted for 26% of these cases, whereas consumer credit generated the bulk (65%).
The FCA recently noted the rise in complaints regarding unauthorized trading and brokerage companies. It also issued a special “Dear Broker CEO” letter, identifying areas of concern for CFD brokers when they onboard clients, like AML requirements and checking the qualifications of the potential CFD trader.
You can view the latest Data Bulletin from the FCA by clicking here.