The company has already taken steps in its expansion with the appointment of industry veterans to key executive positions. In the past 12 months, the broker doubled its staff. According to the official announcement, the new FCA license comes with the acquisition of regulated broker, previously named Petra Asset Management Ltd. Eurotrader’s CEO, Marcelo Spina…
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Sarah Pritchard, executive director of markets at the FCA, said: Some product design features could be contributing to problematic, even gambling-like, investor behaviour. We expect all firms that offer stock trading to consumers to review and, where appropriate, make improvements to their products based on these findings. They should also ensure they are providing support…
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Additionally, Reuben Akpojaro, who worked at the Group, was also charged with the same offences in May 2022. The FCA also noted that further charges were brough against Raheel Mirza and a fifth individual, Taheer Sardar, for obstruction of FCA’s investigation. According to the Agency, the two men created false documents meant to influence the…
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Furthermore, the FCA pointed out that Certain Qatari entities were important investors in both of Barclays’s capital raisings at the time. The company entered into two advisory agreements with these entities, involving payments to one of the Qatari entities in the amount of £322 million over three and five years respectively. Barclays had disclosed that…
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The regulator detailed that in one case, Gatehouse Bank once opened an account fora Kuwait-based company for aggregating customer funds. The bank did not require the collection of crucial information including customers’ source of funds or wealth. During a two year period, the bank ended up receiving $62 million in deposits from customers without performing…
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FCA stated: We have no intention to use our powers to compel IBA to continue to publish the 1- and 6-month synthetic sterling LIBOR settings. The regulator added: Market participants need to ensure they are prepared for the permanent cessation of 1- and 6-month synthetic sterling LIBOR on 31 March 2023. However, the deadline for…
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The regulator added: This firm is not authorised by us and is targeting people in the UK. The FCA’s warning fallows the crypto exchange gaining license from the Cyprus Financial Market Regulator CySEC allowing the company founded by Sam Bankman-Fried, to offer products and services to European clients. Last year, the UK regulator banned FTX's…
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Earlier in March, Crypto.com made several senior hires in the UK. The company appointed a UK General Manager and a Global Head of Sustainability and ESG. In recent years, the UK has been a promising market for cryptocurrency with a 650% increase in adoption from 2018 to 2021, according to research by BanklessTimes. Crypto.com continues…
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TJM executed trading in the value of about £59 billion in Danish equities and £20 billion in Belgian equities. The firm received commission of £1.4 million. In other instances, TMJ also executed transactions with no apparent purpose than to transfer substantial windfall profits of €4.3 million amongst its clients. Thefirm also accepted payment from a…
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Ashley Alder commented: It’s a great privilege to have the opportunity to Chair the FCA, whose core work is so vital to the financial health of consumers. I also value the opportunity to contribute to a crucial phase in the FCA’s history as it helps chart the UK’s post-Brexit future as a global financial centre…
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