LCG Confirms Positive Outcome from Brexit, Receives FCA Regulatory Fees Query

London Capital Group Holdings plc has received a query from its regulatory authority, which at present is only the FCA.

London Capital Group Holdings plc (LON:LCG) has issued an official announcement highlighting that the firm has weathered the Brexit events with a positive outcome. With FX volatility continuing, a number of companies are registering a substantial increase in activity due to the ongoing volatility across all currency markets.

The company has outlined that the results from the British referendum and the resulting volatility across financial markets have been positive for the firm and that it can confirm that the immediate impact of the British population’s vote to leave the European Union is going to play a “materially positive” role for the revenues and the profitability of London Capital Group Holdings plc (LON:LCG).

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In an accompanying statement, the firm also mentioned that it has received a regulatory query regarding the amount of its regulatory fee. At present the firm is only regulated by the United Kingdom’s Financial Conduct Authority (FCA).

According to the official announcement, London Capital Group Holdings plc (LON:LCG) is in the process of evaluating the query from the FCA and has agreed to report back to the regulator on the 11th of July 2016 with a full response on the matter.

London Capital Group Holdings plc (LON:LCG) is not expecting the FCA’s query to have any material impact on the day to day operations or on the financial position of the firm.

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