LCF used to issue mini-bonds and invest the proceeds from these in different businesses. In its warning, the FSCS makes it clear these letters are not from the scheme although they appear on FSCS-headed paper. This organisation advised those targeted to ignore these scam letters and invited them to contact the FSCS directly. In a…
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Additionally, the study found that a quarter of adults that hold investments, prefer to invest in an “investment opportunity” with a limited time frame, which poses a risk of a scam. 22% of the participants in the research say they have not checked or they do not know if their investment is FSCS-protected. This is…
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The Financial Conduct Authority (FCA) has today announced that it is inviting views on the future funding of the Financial Services Compensation Scheme (FSCS) and has also launched a consultation on a number of specific changes to its scheme rules. The FSCS is the UK’s statutory compensation scheme of last resort, which can step in…
Read moreLeapRate Exclusive... LeapRate has learned that Alpari UK bankruptcy administrator KPMG is unable to make final distributions to former clients of the failed retail forex broker without further court consent, due to a gap in UK bankruptcy rules. FCA-regulated Alpari UK went belly up immediately following the surprise Swiss Franc spike of January 15, 2015 -…
Read moreUK financial regulator the FCA has issued a warning regarding retail forex, CFDs and futures brokers TRD Brokers Limited at trdbrokers.net, and TRD Futures Group at trdfutures.com. The website of TRD Futures claims that the company is indeed FCA regulated (see below), giving FCA registration number 493131. That number does exist in the FCA's registry,…
Read moreThe Financial Services Compensation Scheme (FSCS), the UK's statutory compensation scheme for customers of authorised financial services firms, has announced its levy for 2016/17. FSCS, which is well known to former customers of Alpari (UK) Limited and LQD Markets UK, which fell victims of the Swiss franc spike on January 15, 2015, will levy £337 million…
Read moreThe events from January 15, 2015 keep plaguing the investment landscape, including actions and forecasts of regulatory bodies. The latest example in this respect is provided by the Financial Services Compensation Scheme (FSCS), the UK’s statutory compensation scheme for customers of authorised financial services firms. The failure of several investment firms last year, following “Black…
Read moreSince obtaining its FCA license, ThinkForex has been steadily building its operations in the UK. On Friday the broker announced it was beefing up protection for investors by offering an additional £1m insurance protection. Whereas most brokers regulated by the Financial Conduct Authority (FCA) offer the industry-standard Financial Services Compensation Scheme (FSCS) coverage of £50,000,…
Read moreThe investment products offered by Liquid Markets UK (LQD Markets UK) are covered by the Financial Services Compensation Scheme (FSCS).
Read moreThe organisation says it continues to pay compensation to former clients of insolvent Alpari UK that fell victim to “Black Thursday” events.
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