Tag: FCA regulation

January 09, 2015 BY Mike Fox

London Forex investment fraudster convicted

Defendants who were unauthorized for investment pools in the UK bilked investors out of several million pounds back between 2011-2012, the Forex scheme promised returns of up to 100% in just a few short months, when in reality monies suffered heavy trading losses and used for personal expenses. Further sentencing will come on January 16th...

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November 24, 2014 BY Mike Fox

Forex Weekly Look Back - Week of November 17th

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June 10, 2014 BY Mike Fox

FCA finalises rules to improve the protection of client money and custody assets

The Financial Conduct Authority (FCA) has today finalized changes to the client money and custody assets (client assets) rules. These changes affect approximately 1,500 FCA regulated firms that carry out investment business, from the largest investment banks to the smallest investment advisor, who collectively hold over £100bn of client money and £10tn of custody assets.…

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April 28, 2014 BY Andrew Saks-McLeod

US criminal prosecutors head to Britain to investigate FX rate rigging allegations on foreign soil

US criminal prosecutors have arrived in London to interview individuals away from domestic territory as government investment in the rate fixing case extends overseas The United States criminal justice system is well renowned for ensuring that potential wrongdoings are put right, even if the alleged perpetrators are overseas. Yesterday, forming the most recent development in…

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April 01, 2014 BY Andrew Saks-McLeod

FCA announces intention to implement preventative measures against LIBOR manipulation

British financial markets regulator announces plans to reduce possibility of rate manipulation by traders The Financial Conduct Authority (FCA) announced plans to look into how firms can reduce the risk of traders manipulating key benchmarks as a central part of its Business Plan for 2014/15, which was published yesterday. Together with several London-based financial institutions…

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March 26, 2014 BY Andrew Saks-McLeod

Santander UK receives £12.4 million penalty from FCA due to investment advice failings

UK division of European financial giant settles early with FCA to avoid fine of almost £17.7 million following FCA inspection which unearthed improper advice on investment products Amid the Financial Conduct Authority (FCA)'s current drive toward strengthening its regulatory stronghold over individuals and companies which offer financial advice to retail clients, the British regulatory authority…

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March 17, 2014 BY Andrew Saks-McLeod

As FCA Considers Regulation Of Social Trading Platforms, Are PAMMs Next?

Social trading innovators share perspective On MAM accounts following regulatory considerations by FCA Further to last week's revelation by Britain's Financial Conduct Authority (FCA) regarding its intention to set forth a regulatory structure for copy trading and social trading platforms, deeming them investment managers, the question remains as to whether this framework will apply to…

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