FCA Warns Against MT Capital Partners and Justrader

The British financial market watchdog has added to its warning list two companies that are operating illegally in the country.

The Financial Conduct Authority (FCA) has issued an official warning against the activities of MT Capital Partners trading as Justrader. According to the data published by the watchdog, the entities are registered in London, but are not authorized to provide any kind of financial services.

The address details of the suspicious companies are: 18th Floor, 40 Bank St, London, E14 5NR, and they can be found under the web addresses capitalpartners.com and justrader.com. MTC Capital Partners’ website does not respond, and similarly neither does Justrader’s.

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It is worth pointing out however that recently other regulatory entities have warned against the allegedly unlicensed firm and its brand. In September last year it was the Belgian Financial Services and Markets Authority (FMSA), and three months ago it was Belize’s International Financial Services Commission (IFSC). Finance Magnates covered that story here.

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The FMSA, IFSC and latest FCA warnings were all issued due to illegal activities under their specific jurisdictions. MT Capital Partners and Justrader did not have the necessary licenses for the provision of financial services according to UK law.

According to the FCA in a recent official statement on the warning: “We believe this firm has been providing financial services or products in the UK without our authorization… Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorized by us.”

Finance Magnates reported on the activities of the British watchdog last week when it banned the ex-Deutsche Bank trader, Michael Ross, who now cannot provide financial services in the UK. Mr. Ross was linked to the LIBOR rate-rigging scandal and according to the FCA’s investigation results, he “has admitted engaging in dishonest conduct in making USD LIBOR submissions”.

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