Payment Systems Regulator to start oversight of £75 trillion UK payment systems industry LeapRate

March 25, 2015 BY Maria Nikolova

Payment Systems Regulator to start oversight of £75 trillion UK payment systems industry

April 1st seems to be a landmark date for UK financial regulation – in 2013, the first day of April saw the Financial Conduct Authority and the Prudential Regulation Authority appear. This year the date also will have particular significance for the financial services sector, for the payments industry in particular. The Payment Systems Regulator…

March 20, 2015 BY Andrew Saks-McLeod

Julian Rifat sentenced to 19 months in jail for insider trading

In a case brought by the FCA, Julian Rifat has today been sentenced at Southwark Crown Court to 19 months imprisonment; Mr Rifat has also been fined £100,000 for the same offences and ordered to pay costs of £159,402

March 19, 2015 BY Andrew Saks-McLeod

Former Rabobank trader Paul Robson banned from industry for attempted LIBOR rigging

Paul Robson faces sentencing in 2017 for rigging LIBOR, representing the first trader to face a ban, which could be followed up with a criminal conviction in the UK, along the same lines as the one already on his record in the US

March 13, 2015 BY Andrew Saks-McLeod

FCA confirms approach for financial promotions in social media - no misleading info

The FCA has ruled that all advertising campaigns conducted through social media should carry risk warnings, warns of the perils of image advertising, discourages spamming and confirms the legal points in sharing or forwarding communications

March 09, 2015 BY LeapRate Staff

London police raid of Heron Tower forex broker - CityAM and Evening Standard name CWM FX

Two London newspapers, business news oriented CityAM and the London Evening Standard, have named retail forex broker CWM FX as being the mystery financial institution associated with a police raid last week at Heron Tower in London's financial district. CityAM first reported the incident last Tuesday, reporting that an unnamed financial services firm based in the…

March 06, 2015 BY Maria Nikolova

Phillip Boakes gets 10-year prison sentence over FX Ponzi scheme

Phillip Boakes, who defrauded investors of more than £3.5 million, was today sentenced at Southwark Crown Court to 10 years in jail. Boakes, who ran CurrencyTrader Ltd, a company engaged in Forex spread betting, lured investments using false instruments and taking deposits without having the proper authorization. In running a typical Ponzi scheme, Boakes funded…

February 25, 2015 BY Andrew Saks-McLeod

FCA warns of clone firm FTradition, emulating name of Swiss interdealer broker

Forex Tradition, also trading as FTradition has been highlighted by the Financial Conduct Authority as being a clone of the British divisions of Swiss interdealer broker Compagnie Financiere Tradition

February 24, 2015 BY Maria Nikolova

Financial Conduct Authority warns about Ikon Finance clone

The Financial Conduct Authority (FCA) has been rather active lately in cautioning the public about clone firms. The latter usually abuse a trademark, emulate a name of a firm, its services and websites, in order to fraudulently benefit from the established reputation of a regulated entity. Earlier today, the UK watchdog published a warning about…

February 23, 2015 BY Andrew Saks-McLeod

FCA instigates ruling to strengthen individual accountability; some non-executive directors subject to regulatory oversight

Non-Executive Directors with specific responsibilities, such as Chairman, will come under the new Senior Managers Regime (SMR), the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) confirmed today

February 21, 2015 BY Mike Fox

Offshore OctaFX seeks to join the London brokerage crowd

LeapRate Exclusive… Upstart offshore retail forex brokerage OctaFX has new financial regulation pending

Tag: FCA