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Retail FX

FCA Flags Clone Firm Impersonating Admiral Markets UK

  • The fraudulent firm operates under the name admrlmrkts.co and uses several email addresses, including support@admrlmrkts.co.
  • The clone firm is reportedly contacting unsuspecting individuals using contact details similar to those of the legitimate company.
Thursday, 13/06/2024 | 18:58 GMT by Jared Kirui
Retail FX

FCA Fines HSBC £6.28 Million over Customer Treatment Failures

  • From June 2017 to October 2018, HSBC's actions resulted in insufficient consideration of customers' circumstances.
  • The company invested £94 million and disbursed £185 million in redress payments to address the identified issues.
Thursday, 23/05/2024 | 11:04 GMT by Tareq Sikder
Retail FX

Citigroup Fined £61.6M over Algorithmic Trading Mistake Worth £1.4B

  • FCA and PRA have imposed a joint penalty on the giant.
  • The error caused short-term drop in several European indices and market disruption.
Wednesday, 22/05/2024 | 06:29 GMT by Damian Chmiel
Retail FX

FCA Reveals Scammers Imitating Finalto Financial Services

  • The FCA advises verifying the authenticity of financial firms to avoid falling victim to scams.
  • Engaging with the fraudulent firm means no financial protection services are available.
Tuesday, 21/05/2024 | 16:07 GMT by Tareq Sikder
Retail FX

Brokers Face Heavy Crackdown on Ads: Can Compliance Automation Be a Solution?

  • A trading affiliate violated CAP codes by not including risk warnings in their marketing for reputable brands, as shown by Rightlander scans.
  • In 2022, the UK financial watchdog blocked 8,600 ads on Instagram, YouTube, and Facebook promising quick profits and guaranteed returns.
Monday, 20/05/2024 | 10:37 GMT by Sarafina Wolde Gabriel
Retail FX

Instagram Forex Scheme: FCA Presses Charges against Nine Finfluencers

  • From 2018 to 2021, an Instagram account provided unauthorized guidance on CFD trading.
  • The defendants are to appear before the Westminster Magistrates' Court on June 13, 2024.
Thursday, 16/05/2024 | 10:30 GMT by Tareq Sikder
Retail FX

FCA Charges Trio in £8M Pension Fraud Scandal Involving CFDs

  • High commissions for the accused resulted in victims almost entirely losing their funds.
  • Three individuals face multiple charges, including fraud by false representation.
Wednesday, 15/05/2024 | 10:17 GMT by Damian Chmiel
Retail FX

FCA, BaFin Warns against These Unregistered Financial Service Providers

  • The companies include Global Sky Trading, Supermininfx.ltd, EliteGlobalMiners, FlowsGlobal, LegitimateFxPro.com, and Solid-Trades Unit.
  • Elsewhere, BaFin has warned against Trade211.com for providing unauthorized financial services.
Friday, 10/05/2024 | 14:08 GMT by Jared Kirui
Institutional FX

FCA "Name and Shame" Policy: Regulator Attributes to Numerous Inquiries from Legislators

  • The regulator's CEO, Nikhil Rathi, appeared before the House of Commons Treasury Select Committee today (Wednesday).
  • FCA receives approximately 650 letters yearly from Members of Parliament inquiring about ongoing investigations.
Wednesday, 08/05/2024 | 18:41 GMT by Jared Kirui
Retail FX

UK Chancellor Jeremy Hunt Clashes with FCA over Controversial “Name and Shame” Policy

  • He joins the voices arguing that the FCA's plan could hinder economic growth.
  • The debate underscores the increasing tension between the government and the regulator.
Wednesday, 01/05/2024 | 10:29 GMT by Damian Chmiel
Retail FX

FCA Approval Expands Stratiphy's Retail Offerings with Customized Portfolios

  • The firm has become FCA's first approved independent wealth manager for retail client investments.
  • It now can offer tailored portfolios to retail investors, diverging from tradition and unlocking growth.
Wednesday, 01/05/2024 | 08:46 GMT by Tareq Sikder
Retail FX

The UK Financial Services Firms Receive 1.87M Complaints in H2 2023

  • The FCA's complaints data shows an overall 1% dip in the second part of the last year.
  • However, credit cards and current accounts bucked the trend with visible increases.
Tuesday, 30/04/2024 | 04:46 GMT by Damian Chmiel
Institutional FX

FCA Targets Financial Promotions: 85% of Interventions Directed at Lending and Investments

  • The regulator issued 597 alerts concerning unauthorized firms and individuals.
  • Approximately 11% of these alerts were linked to clone scams.
Friday, 26/04/2024 | 14:16 GMT by Jared Kirui
Retail FX

Even Ministers Believe FCA's "Name and Shame" Policy Will Harm the City of London

  • Critics from the private and public sectors argue that the move could unfairly damage reputations.
  • Specifically, the FCA's investigations last an average of 4 years, and 65% conclude end without any resulting action.
Wednesday, 24/04/2024 | 08:28 GMT by Damian Chmiel
Retail FX

FCA Acts: Kent Resident Faces £2.67M Investment Scheme Charges

  • The allegations center around involvement in an unauthorized investment scheme named 'Kube Trading'.
  • The FCA has planned to enhance transparency by divulging more about its investigations into companies earlier.
Tuesday, 23/04/2024 | 14:45 GMT by Tareq Sikder
Retail FX

FCA Flags Suspected Clone Firm Impersonating Legitimate Forexeze Limited

  • The regulator said that the clone firm operates using the names forexeze.com and forex-eze.com.
  • The clone entity uses email addresses such as info@forexeze.com and support@forex-eze.com.
Friday, 19/04/2024 | 20:18 GMT by Jared Kirui
Retail FX

This Company Sidesteps £50 Million Fine, as FCA Wants to Compensate More Investors

  • The regulator finds Link Fund Solutions mismanaged Woodford Equity Income Fund.
  • However, it will not impose a multimillion-pound fine to give more money back to investors.
Thursday, 11/04/2024 | 09:15 GMT by Damian Chmiel
Retail FX

FCA Finds New Payment Method for Investment Research: Discover How

  • Market watchdog proposes flexible payment options for investment research.
  • The new proposal allows the bundling of research and execution payments.
Wednesday, 10/04/2024 | 10:42 GMT by Damian Chmiel
Retail FX

FCA Wins Court Approval to Reclaim £1.6m from AWL and Director

  • AWL gathered £2.8 million through unauthorized deposits and schemes, according to the FCA.
  • Further court proceedings will decide how the funds from the agreement will be distributed.
Thursday, 04/04/2024 | 09:56 GMT by Tareq Sikder
FinTech

Alchemy Pay Invests in UK's LaPay to Expand Global Payment Solutions

  • LaPay holds a UK Authorised Payment Institution License regulated by the FCA.
  • Alchemy Pay holds regulatory licenses across four continents, totaling six licenses.
Thursday, 28/03/2024 | 16:50 GMT by Tareq Sikder
Retail FX

"Law, Not Likes," FCA to Fight with Memes and Reels in Financial Promotions

  • The regulator again cracks down on misleading financial ads on social media.
  • This time, however, it focuses on the latest forms of marketing, including memes.
Tuesday, 26/03/2024 | 10:40 GMT by Damian Chmiel
CryptoCurrency

LSE Opens Doors to Bitcoin and Ethereum ETN Applications

  • The proposed commencement date for trading these Crypto ETN securities is May 28.
  • The Exchange's decision hinges on the FCA's approval of base prospectuses.
Monday, 25/03/2024 | 17:49 GMT by Tareq Sikder
Retail FX

FCA Flags Clone Firm Impersonating Legitimate Claims Solutions UK Limited

  • This suspected clone entity operates under false details, including its name, address, telephone numbers, email addresses, and website.
  • There is no legitimate connection between the clone firm and the authorized entity, Claims Solution UK Limited.
Thursday, 21/03/2024 | 15:02 GMT by Jared Kirui
Retail FX

FCA's 2024-2025 Assertive Stance: Tougher on Firms, Safer for Consumers

  • The UK's regulator unveils a yearly plan to protect consumers and promote competition.
  • To achieve that, FCA wants to boost employment by exceeding 5,000 people.
Tuesday, 19/03/2024 | 09:20 GMT by Damian Chmiel
Retail FX

Regulators Tackle Debt Collection Challenges amidst Cost of Living Surge

  • In 2020, firms paid £570 million in compensation for treatment deficiencies.
  • Banks are advised to improve the treatment of small business owners in debt collection.
Monday, 18/03/2024 | 10:19 GMT by Tareq Sikder
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