The Financial Conduct Authority (FCA) and the Information Commissioners Office (ICO) have today published an update on the EU General Data Protection Regulation (GDPR). The EU General Data Protection Regulation (GDPR) will apply in the UK from 25 May 2018. It is an essential step forward in enhancing the privacy and security of personal data.…
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Samrat Bhandari, who played a prime role in the operation of an investment scheme which led to investors losing just over £1.4 million, was today sentenced at Southwark Crown Court to a total of 3½ years’ imprisonment, the FCA just announced. He was also disqualified from holding the position of director for 12 years. In…
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The Financial Conduct Authority (FCA) is today urging the public to be vigilant to the threat of online investment fraud. Fraudsters offering investments in binary options, contracts for difference (CFDs), forex and cryptocurrencies (such as Bitcoin) often promote themselves online and via social media channels, such as Facebook, Instagram and Twitter. They typically promise high…
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The Financial Conduct Authority (FCA) has today published Decision Notices in respect of One Call Insurance Services Limited (One Call) and its Chief Executive and majority shareholder John Lawrence Radford. A connected company to One Call, One Insurance Limited (OIL), has made a reference to the Upper Tribunal (the Tribunal) as a third party in…
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The Financial Conduct Authority (FCA) informed that it has today imposed a financial penalty on Interactive Brokers (UK) (IBUK) in the amount of £1,049,412 for failings in its post-trade systems and controls for identifying and reporting suspicious transactions in the period February 2014 to February 2015 (“the Relevant Period”). IBUK is an online broker based…
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The Financial Conduct Authority (FCA) has today launched a consultation on plans to give more small businesses access to the Financial Ombudsman Service (the Ombudsman). This follows a review of the protections available to small and medium sized enterprises (SMEs) as users of financial services. At the moment only individual consumers and around 5.5 million…
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FCA regulated CFD broker Plus500 Ltd (LON:PLUS) informed that it takes note of the contents of a "Dear CEO letter" that the Financial Conduct Authority (FCA) has issued last week as a public announcement following its review of the CFD market. The announcement highlights the FCA's concerns regarding firms who offer and distribute CFDs to retail…
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The Financial Conduct Authority (FCA) has today published a list of 94 firms without FCA authorisation that it understands to be offering binary options trading to UK consumers. Since January 3rd 2018, firms involved in binary options trading in the UK have been required to be authorised by the FCA. Firms that are not authorised…
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UK online trading leader IG Group Holdings plc (LON:IGG) noted that the Financial Conduct Authority (FCA) have today issued a letter to all providers and distributors of contracts for difference (CFD) products. IG informed that it welcomes the FCA's review on the provision and distribution of CFD products to clients on an advisory or discretionary…
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HM Treasury has today announced the appointment of Charles Randell CBE as the new Chair of the Financial Conduct Authority (FCA). Charles Randell is currently an external member of the Prudential Regulation Committee of the Bank of England and a non-executive board member of the Department for Business, Energy and Industrial Strategy. Randell will take…
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