UK watchdog detects misuse of LCG name by binary options broker LeapRate

March 25, 2015 BY Maria Nikolova

UK watchdog detects misuse of LCG name by binary options broker

LeapRate's loyal readers must already be somewhat accustomed to the Financial Conduct Authority (FCA) issuing warnings against clones of authorized online trading companies. Some of the cases the UK watchdog tackles, however, are quite stunning and today presented us with one of these. Representatives of Tradignition, a binary options broker soliciting UK clients, are falsely…

March 19, 2015 BY Andrew Saks-McLeod

Former Rabobank trader Paul Robson banned from industry for attempted LIBOR rigging

Paul Robson faces sentencing in 2017 for rigging LIBOR, representing the first trader to face a ban, which could be followed up with a criminal conviction in the UK, along the same lines as the one already on his record in the US

March 06, 2015 BY Maria Nikolova

Phillip Boakes gets 10-year prison sentence over FX Ponzi scheme

Phillip Boakes, who defrauded investors of more than £3.5 million, was today sentenced at Southwark Crown Court to 10 years in jail. Boakes, who ran CurrencyTrader Ltd, a company engaged in Forex spread betting, lured investments using false instruments and taking deposits without having the proper authorization. In running a typical Ponzi scheme, Boakes funded…

February 24, 2015 BY Maria Nikolova

Financial Conduct Authority warns about Ikon Finance clone

The Financial Conduct Authority (FCA) has been rather active lately in cautioning the public about clone firms. The latter usually abuse a trademark, emulate a name of a firm, its services and websites, in order to fraudulently benefit from the established reputation of a regulated entity. Earlier today, the UK watchdog published a warning about…

February 23, 2015 BY Andrew Saks-McLeod

FCA instigates ruling to strengthen individual accountability; some non-executive directors subject to regulatory oversight

Non-Executive Directors with specific responsibilities, such as Chairman, will come under the new Senior Managers Regime (SMR), the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) confirmed today

January 30, 2015 BY Maria Nikolova

Forex fraudster Alex Hope gets 7-year jail term

A landmark legal prosecution concluded today in the UK, as Alex Hope and his accomplice in investment fraudulent activities Raj Von Badlo (also known as Raj Shastri), were both sentenced to prison. Alex Hope will spend the next seven years in prison, the harshest punishment imposed following prosecution by the Financial Conduct Authority (FCA) or…

January 20, 2015 BY Maria Nikolova

FCA issues official stance on Alpari UK's situation

Customers of Alpari UK, the retail Forex broker that has just entered administration, can now make use of detailed information on the matter provided by the Financial Conduct Authority (FCA). Earlier today the UK financial watchdog published a FAQ section, addressed at Alpari UK's clients many of whom are now puzzled about what to do,…

December 10, 2014 BY Andrew Saks-McLeod

FCA chastises its senior executives, Martin Wheatley waves goodbye to annual bonus

A scathing report criticizing five of the FCA's senior executives including Martin Wheatley is to be issued by law firm Clifford Chance, resulting in loss of annual bonuses. Last year, Mr. Wheatley collected £86,000 in annual bonus

December 08, 2014 BY Andrew Saks-McLeod

FCA moves with the times, invokes new structure and new executives

Britain's financial markets regulator, the FCA, has invoked a series of structural changes in order to meet the demands of the modern financial markets ecosystem, with several executive-level changes within the organization

November 17, 2014 BY Andrew Saks-McLeod

FCA concludes review regarding customer complaints handling, looks toward improvement

“Straightforward and effective complaints handling is an important aspect of how firms treat their customers. Correctly handled, they can help firms quickly deal with problems and keep their customers happy." - Clive Adamson, Director of Supervision, FCA

Tag: Financial Conduct Authority