Tag: FSCS

December 14, 2016 BY Valentina Kirilova

FCA proposes changes to FSCS client compensation rules

The Financial Conduct Authority (FCA) has today announced that it is inviting views on the future funding of the Financial Services Compensation Scheme (FSCS) and has also launched a consultation on a number of specific changes to its scheme rules. The FSCS is the UK’s statutory compensation scheme of last resort, which can step in…

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September 20, 2016 BY LeapRate Staff

UK bankruptcy law flaw preventing Alpari UK administrator KPMG from distributing more funds - LeapRate Exclusive

LeapRate Exclusive... LeapRate has learned that Alpari UK bankruptcy administrator KPMG is unable to make final distributions to former clients of the failed retail forex broker without further court consent, due to a gap in UK bankruptcy rules. FCA-regulated Alpari UK went belly up immediately following the surprise Swiss Franc spike of January 15, 2015 -…

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May 25, 2016 BY LeapRate Staff

FCA issues warning re unauthorized TRD Brokers and TRD Futures Group

UK financial regulator the FCA has issued a warning regarding retail forex, CFDs and futures brokers TRD Brokers Limited at trdbrokers.net, and TRD Futures Group at trdfutures.com. The website of TRD Futures claims that the company is indeed FCA regulated (see below), giving FCA registration number 493131. That number does exist in the FCA's registry,…

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April 26, 2016 BY Maria Nikolova

FSCS sets levy for 2016/17 at £337 million

The Financial Services Compensation Scheme (FSCS), the UK's statutory compensation scheme for customers of authorised financial services firms, has announced its levy for 2016/17. FSCS, which is well known to former customers of Alpari (UK) Limited and LQD Markets UK, which fell victims of the Swiss franc spike on January 15, 2015, will levy £337 million…

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January 20, 2016 BY Maria Nikolova

UK FSCS says there is prospect of unforeseen investment firm failures

The events from January 15, 2015 keep plaguing the investment landscape, including actions and forecasts of regulatory bodies. The latest example in this respect is provided by the Financial Services Compensation Scheme (FSCS), the UK’s statutory compensation scheme for customers of authorised financial services firms. The failure of several investment firms last year, following “Black…

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October 31, 2015 BY Maria Nikolova

ThinkForex UK offers extra £1m insurance protection, launches spread betting on MT4

Since obtaining its FCA license, ThinkForex has been steadily building its operations in the UK. On Friday the broker announced it was beefing up protection for investors by offering an additional £1m insurance protection. Whereas most brokers regulated by the Financial Conduct Authority (FCA) offer the industry-standard Financial Services Compensation Scheme (FSCS) coverage of £50,000,…

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