Having a stable website with good design is crucial for any business and institution nowadays – that is an obvious statement to make, especially in the FX industry where IT issues make the difference between “make it” and “break it”. This must be the main idea for the UK Financial Conduct Authority (FCA), which is…
Read moreThe UK Financial Conduct Authority (FCA) today published an Occasional Paper, dedicated to high-frequency trading (HFT) and examining whether high-frequency traders (HFTs) prey on other market participants. The paper, authored by Matteo Aquilina and Carla Ysusi, both working in the Chief Economist’s Department of the Financial Conduct Authority, examines claims that HFTs can predict when…
Read moreAfter banning Paul White, a former a Japanese Yen (JPY) and Swiss Franc (CHF) LIBOR submitter at Royal Bank of Scotland Group plc (LON:RBS), the Financial Conduct Authority (FCA) today makes another move in relation to its investigation into LIBOR manipulation. The UK regulator published a Decision Notice regarding Mr Arif Hussein, a former derivatives…
Read moreTracey McDermott, Acting Chief Executive of the Financial Conduct Authority (FCA), has today announced that she will leave the UK regulator on July 1, 2016. The announcement comes after in January this year, Ms McDermott announced her decision to abandon the race for the permanent Chief Executive position at the FCA but would continue as Acting…
Read moreThe FCA's report also takes aim at investment banking practices such as cross selling of products to issuing companies.
Read moreData that has just been published by the Financial Conduct Authority (FCA) shows that UK financial services firms received 2.11 million new complaints between July and December 2015. The number marks a drop of 1.4% when compared to the first half of 2015, with the decline mainly driven by a 10% drop in complaints about…
Read moreNew caps mean that the average credit card Interchange Fee will fall by around 70%.
Read moreThe UK Financial Conduct Authority (FCA) continues to issue warnings against clone firms – unauthorized entities that abuse the details of authorized firms in order to easily lure investors. The UK regulator today issued a warning against another clone - Swiss Investment, operating via www.investmentswiss.com/en/. The company offers a variety of FX services, while misusing…
Read moreAt a hearing at the City of Westminster Magistrates’ Court today, Phillip Harold Boakes, the mastermind of a vast-scale Ponzi scheme that defrauded investors of more than £3.5 million, got a 730-days prison sentence, the reason being his failure to pay a confiscation order. The new prison sentence is in addition to the term of…
Read moreThe UK Financial Conduct Authority (FCA) keeps its conquest against clone firms – unauthorized entities that abuse the details of authorized firms in an effort to defraud investors more easily. The latest warning concerns Markets Central Investment, a company which misuses the details of an FCA-licensed firm - Central Markets (London) Ltd. The clone entity,…
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