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Europe's Economic Crossroads: Recession Fears and S&P Global's
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Institutional FX
FCA Fines Metro Bank £10M for Compliance Breach
2022-12-12T11:14:52.134+02:00
Two former top executives were penalized for knowing about the incorrect data publication.
Both of the former executives appealed against the FCA's decision.
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Arnab Shome
Retail FX
FCA Slaps £4,8m Fine on BGC Brokers and GFI Subsidiaries
2022-12-08T15:19:33.148+02:00
BGC Brokers, GFI Brokers and GFI Securities must pay a fine of almost £4,8 million.
The inter-dealer brokers failed to implement MAR trade surveillance requirements.
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Institutional FX
FCA Bans Three Ex-Mizuho Traders for Market Manipulation
2022-12-07T15:30:33.230+02:00
Banned traders must pay £595,000 fines in total.
They disagreed with the decision and took it to the Upper Tribunal.
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Retail FX
FCA Fights Rogue Financial Ads
2022-12-06T13:30:50.145+02:00
The British regulator wants to end misleading, unfair and illegal financial marketing.
Rogue financial promotions in 2022 brought ten times more FCA interventions than 2021.
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Retail FX
FCA Warns Brokers against CFDs 'Poor Practices'
2022-12-01T14:31:47.107+02:00
80% of retail traders are losing money when investing in CFDs.
Some CFD providers are still using practices the FCA disagrees with.
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Damian Chmiel
Institutional FX
FCA Fines Julius Baer £18 Million for Business Integrity Failure
2022-11-30T13:58:54.257+02:00
The investment bank agreed to settle with the regulator at an early stage.
It also banned three former Julius Baer employees.
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Retail FX
FCA Wants to Make Financial Advice in UK Less Expensive
2022-11-30T12:08:18.353+02:00
A growing number of citizens have excess cash to invest.
However, the high cost of advice prevents access to professional help.
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Damian Chmiel
Retail FX
Eurotrader Boosts UK Presence with FCA License
2022-11-24T19:31:27.842+02:00
The broker hired several London-based executives in the past few months.
Eurotrader gained a license in South Africa last year.
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Solomon Oladipupo
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Retail FX
FCA Warns Trading App Operators to Stop the Trading Gamification
2022-11-21T11:48:09.648+02:00
The UK’s market watchdog wants trading app creators to review the main design features.
According to a recent study, gamification may lead to gambling-like behavior.
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FinTech
FCA Opts for Public Censure of Sonali Bank UK Ex-CEO for AML Failure
2022-11-18T19:58:43.508+02:00
The UK regulator fined Mohammad Prodhan, the former CEO, £76,400 in 2018.
However, the FCA is replacing that as a result of certain 'exceptional circumstances'.
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Solomon Oladipupo
Op-ed
Retail FX
Op-ed
2022, a Year of Tightening Marketing Regulations for Retail Brokers
2022-11-16T11:43:39.124+02:00
The COVID-19 pandemic saw a significant rise in online investments and digital crimes
Several countries have tightened their financial advertising regulations to protect the public
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Jonathan Elkin
CryptoCurrency
FCA Has No Good News for FTX Customers
2022-11-15T12:03:32.173+02:00
The regulator reminds that regulation of cryptos is limited in the UK.
Therefore, FTX customers cannot count on broader FCA assistance.
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Damian Chmiel
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Retail FX
FCA Looks for Innovation Advisory Group Members
2022-11-10T12:59:58.196+02:00
Senior leaders and stakeholders can apply until 1 December 2022.
The advisory body will cover the FinTech and cryptocurrency industries.
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Damian Chmiel
Retail FX
FCA Blocks Rogue Financial Promotions, including CFDs
2022-11-04T13:39:08.611+02:00
Retail lending was the most affected industry, due to the financial squeeze.
CFDs were among the sectors with the highest amend/withdraw outcomes.
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Damian Chmiel
Binary Options
UK FCA Charges Four Individuals with £1.2M Binary Options Fraud
2022-11-01T15:46:51.350+02:00
The regulator charged a fifth person for tampering with its investigation.
Binary options among retail investors has been banned in the UK since 2019.
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Solomon Oladipupo
Retail FX
How Big Tech May Impact Financial Industry Competiton? FCA Wants to Know
2022-10-25T18:01:05.178+02:00
The FCA is waiting for views on possible harm and benefits from Big Tech companies.
Responses can be provided by 15 January, 2023.
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Damian Chmiel
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CryptoCurrency
FCA Takes Action as UK Crypto Scams Soar
2022-10-21T19:01:18.639+02:00
Cryptocurrencies are the most commonly reported potential scams to the FCA.
The commission opened more than 2,700 cases involving investment scams in one year.
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Damian Chmiel
Retail FX
Mark Steward Leaves FCA after Seven Years as Enforcement Director
2022-10-18T15:05:02.694+02:00
Steward joined the UK regulator in 2015.
He worked previously with financial watchdogs in Hong Kong and Australia.
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Retail FX
FCA Stops 16 Suspected CFDs Providers
2022-10-18T13:55:32.101+02:00
The regulatory watchdog states that its action saved consumers £100 million a year.
Overall, the FCA has stopped 33 consumer investment firms.
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Institutional FX
London’s Gatehouse Bank Fined £1.58M for AML Failures
2022-10-14T13:27:47.039+02:00
The failures happened even though the bank had AML policies in place.
It has now taken steps to correct the lapses.
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Arnab Shome
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Institutional FX
FCA to Permanently Cease Synthetic Sterling LIBOR on March 2023
2022-09-29T13:40:50.063+02:00
The synthetic yen LIBOR settings will permanently cease at the end of 2022.
Synthetic LIBOR settings were introduced as a temporary measure.
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Arnab Shome
Regulation
Liz Truss Elected as UK's Next Prime Minister
2022-09-05T14:56:41.745+02:00
The race has officially been called after Ms Truss won 57.4% of votes from Conservatives.
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News
Crypto.com Secures Regulatory Approval from FCA
2022-08-17T11:01:58.102+02:00
The company obtained approval as a crypto asset business.
Crypto.com recently announced several hirings in the UK.
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Bilal Jafar
Executives
UK FCA Appoints Home Office's Director to Lead Its Global Strategy
2022-08-05T15:45:19.831+02:00
O'Connell is bringing “extensive experience of international affairs" to the role.
He joined the UK Home Office as Director of International, in 2020.
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Solomon Oladipupo
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CryptoCurrency
The FCA Is Introducing New Guidelines on Promoting High-Risk Investments
2022-08-02T08:47:06.059+02:00
Refer-a-friend will be banned from marketing promotions.
A 24-hour period is required for a client to be able to place funds for the investment.
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