Tag: UK

January 18, 2022 BY Steffy Bogdanova

UK Government to tighten rules on misleading crypto ads

Around 2.3 million people in the UK are thought to be holding crypto assets, according to an estimate. This move will hopefully ensure that cryptoasset advertisements are “fair, clear, and not misleading.” Chancellor of the Exchequer, Rishi Sunak said: Cryptoassets can provide exciting new opportunities, offering people new ways to transact and invest – but…

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The FCA
May 26, 2021 BY Steffy Bogdanova

FCA stops EverFX from offering CFDs to UK investors

The FCA has expressed serious concerns regarding the sales and marketing practices of the EverFX Group. The regulator found the company used misleading financial promotions, failed to inform consumers about the nature and risks of CFDs, applied pressure to invest additional funds, instructed clients on which trades to make, and failed to allow customers to…

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BaFin warns about the paradigm shift following Brexit
December 30, 2020 BY Steffy Bogdanova

BaFin warns about the paradigm shift following Brexit

The new agreement will take effect on provisional basis on 1 January 2021. The agreement is expected to be approved by the European Council by the end of the year and its provisional applications are to apply until 28 February 2021. The European Parliament needs to make final decision on the final application of the…

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Brexit
December 30, 2020 BY Steffy Bogdanova

IG UK stops servicing EEA clients after Brexit

The company stated: If you have previously agreed to transfer your account to IG Europe but have not received confirmation that the transfer has taken place, please email the helpdesk / live chat us as soon as possible so we can look into this. Please note that, after 31 December, you will still be placed…

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FCA bans sale of crypto-derivatives to retail consumers
October 06, 2020 BY Steffy Bogdanova

FCA bans crypto derivatives sale to retail consumers

The FCA said: Unregulated transferable cryptoassets are tokens that are not ‘specified investments’ or e-money, and can be traded, which includes well-known tokens such as Bitcoin, Ether or Ripple. Specified investments are types of investment which are specified in legislation. Firms that carry out particular types of regulated activity in relation to those investments must…

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September 11, 2020 BY Steffy Bogdanova

USG moves its headquarters to London

In early September the group sent an email to its clients stating: With fifteen years of experience, outstanding technology and steady management, Union Standard International Group has been supported and trusted by millions of traders across more than 130 countries. The email continued: Until now, we’ve almost completed the restructuring process and reached 97% of…

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Forex Weekly Look Back
August 14, 2020 BY Steffy Bogdanova

Forex Weekly Look Back: Swissquote, Plus500 and IG release trading volumes, FXCM Pro provides liquidity for DXtrade platform

International multi-asset broker HotForex has expanded its offering with the launch of exchange-traded funds (ETFs) and direct market access (DMA) stocks, exclusive to the company’s MT5 platform. Traders on HotForex can now benefit from CFDs on DMA Stocks and the direct market live pricing. Unlike CFDs on Stocks, which are not directly hedged in the underlying…

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FCA regulation
July 27, 2020 BY Steffy Bogdanova

FCA improves Financial Services Register for consumer protection

Jonathan Davidson, Executive Director of Supervision, Retail and Authorisations, said: The Financial Services Register is an important tool for both the consumers and firms who use it. These changes will make it easier for users to navigate and understand the Register, and in doing so, help them avoid financial harm such as scams by unauthorised…

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