CySEC ‘passporting’ blasted by GAIN Capital CEO Glenn Stevens

“On the one hand having competition is good. But having competition that plays by different rules isn’t good. Too many of these companies operate kind of dodgy. I have even heard of people registering who were able to open and register accounts as Mickey Mouse and Kermit the Frog” – Glenn Stevens, CEO, GAIN Capital

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FCA dealing with flood of market abuse cases

Suspicious Transaction Reports have soared to 1,626 in 2014, whereas a year earlier only 1,308 were generated, however pre-financial crisis, the number was substantially less

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FCA accepted settlements for 97% of cases between 2010 and 2013

The British stiff upper lip has prevailed in cases brought by the FCA during a three year period. In total contrast to the US authorities’ penchant for court cases and restitution payments, most UK firms have settled in advance of decisions rather than contest the FCA

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