Sky News reports that sources with knowledge of the matter have shared with the media that a relaxation is on the line.
CMC Markets is reportedly considering a move of its London headquarters should the U.K. Financial Conduct Authority proceed with its regulatory reshuffling, Sky News reports. The plans of the spread betting, forex and CFDs trading provider are to relocate from London, according to sources cited in the story.
According to Sky News, the board of the company, headed by Peter Cruddas, has been contemplating a number of job cuts and a potential move away from London. The company’s major shareholder and founder, Mr Cruddas has been a donor of the Conservative party and a Brexit proponent.
[gptAdvertisement]
Insiders shared with Sky News that the top destination for new headquarters is Germany. A move of the firm’s London headquarters would mean the loss of about 300 jobs in the City.
Brexit proponents have been advocating that the FCA take a lighter approach towards the financial sector, but last week the UK watchdog poured cold water on the idea that the UK could become a laxer regulatory destination.
Despite the discussions, there have been no preparations made by the company. A decision on the matter will not be taken by CMC Martkets before the expiration of the FCA's consultation period in March.
Several companies from the industry listed on the London Stock Exchange, including CMC Markets, IG Group and Plus500, have lost more than £1 billion of their market cap after the FCA’s announcement last week.
The speculation about a move to Germany comes just after an announcement made by the German financial regulator BaFin that it is not going to limit leverage offered to retail clients. The watchdog has chosen to focus instead on Negative Balance protection and stated that providers that do not offer negative balance protection will not be allowed to provide their services in the country.
Sky News also reports that sources have shared with the media that the CEO of IG Group, Peter Hetherington was in Germany yesterday to discuss with BaFin the upcoming regulatory reforms.
In a letter sent out to clients, IG has informed its clients that under the FCA's proposed changes to the regulatory framework, they would need to beef up their trading accounts up to 10 times in order to retain the same access to the market.
FXCM has also informed its clients in a letter that it is fully aligned with the views of the FCA on bonuses and profitability reporting, however the proposed changes to leverage are going to affect a lot of clients.
Clients of UK brokerages can submit their views to the FCA before the 7th of March in order to protect their own interests and share their viewpoints with the regulator.
CMC Markets is reportedly considering a move of its London headquarters should the U.K. Financial Conduct Authority proceed with its regulatory reshuffling, Sky News reports. The plans of the spread betting, forex and CFDs trading provider are to relocate from London, according to sources cited in the story.
According to Sky News, the board of the company, headed by Peter Cruddas, has been contemplating a number of job cuts and a potential move away from London. The company’s major shareholder and founder, Mr Cruddas has been a donor of the Conservative party and a Brexit proponent.
[gptAdvertisement]
Insiders shared with Sky News that the top destination for new headquarters is Germany. A move of the firm’s London headquarters would mean the loss of about 300 jobs in the City.
Brexit proponents have been advocating that the FCA take a lighter approach towards the financial sector, but last week the UK watchdog poured cold water on the idea that the UK could become a laxer regulatory destination.
Despite the discussions, there have been no preparations made by the company. A decision on the matter will not be taken by CMC Martkets before the expiration of the FCA's consultation period in March.
Several companies from the industry listed on the London Stock Exchange, including CMC Markets, IG Group and Plus500, have lost more than £1 billion of their market cap after the FCA’s announcement last week.
The speculation about a move to Germany comes just after an announcement made by the German financial regulator BaFin that it is not going to limit leverage offered to retail clients. The watchdog has chosen to focus instead on Negative Balance protection and stated that providers that do not offer negative balance protection will not be allowed to provide their services in the country.
Sky News also reports that sources have shared with the media that the CEO of IG Group, Peter Hetherington was in Germany yesterday to discuss with BaFin the upcoming regulatory reforms.
In a letter sent out to clients, IG has informed its clients that under the FCA's proposed changes to the regulatory framework, they would need to beef up their trading accounts up to 10 times in order to retain the same access to the market.
FXCM has also informed its clients in a letter that it is fully aligned with the views of the FCA on bonuses and profitability reporting, however the proposed changes to leverage are going to affect a lot of clients.
Clients of UK brokerages can submit their views to the FCA before the 7th of March in order to protect their own interests and share their viewpoints with the regulator.
Cheetah Fund Investors Lose $9 Million in Alleged Fraudulent Scheme
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
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