Category Archives: News

Should the Chief Compliance Officer of FCA Regulated Firms be a Member of the Board of Directors?

In recent years, there has been a debate within the financial industry regarding whether the Chief Compliance Officer (CCO) of FCA regulated firms should be a member of the Board of Directors or not. The Senior Managers and Certification Regime (SMCR) has made it mandatory for the CCO to be approved by the FCA as […]

Lessons from Cypriot CFD brokers checked-out of the UK market by the FCA?

cypriot cfd

Lessons from Cypriot CFD brokers checked out of the UK market by the FCA? In a recent two-phased manoeuvre, the UK conduct regulator (FCA) issued at the start of June 2020 details of separate supervisory actions against a number of Cyprus-based CFD-trading firms [‘first-phase namely: Magnum FX Cyprus Ltd, Rodeler Ltd, Hoch Capital Ltd and […]

FCA Sector Review 2020

FCA Sector Review 2020

The 2020 FCA sector reviews and the pressures on CFD brokers keeping their retail clients The UK conduct regulator has recently been publishing a variety of outputs which have sought to set out and promote its thoughts on the key challenges and risk threats posed by the core sectors of the UK financial services industry, […]

The Contract for Difference (CFD) sector is still a propriety within the FCA 2019/20 business plan, third year in a row!

contract for differences(CFD)

Ever close & present sector attention The UK conduct regulator (Financial Conduct Authority – FCA) has taken various steps and product intervention measures concerning the Forex (FX) and Contract for Difference/ (CFD) sector during recent years in respect to protecting consumer interests, appropriate client classification(s) and disclosures, and sound prudential risk management  Alongside this background […]

The use of Reverse solicitation to drive growth by UK-based FX and CFD firms

Reverse Oscillation-News and insight - FX&CFD

A European regime to harmonize practices & consumer protections MiFID II regime first introduced into the UK back in January 2018 (applying Directive 2014/65/EU) brought about some key changes and obligations impacting CFD-related business and operations, from underlying client categorizations to transaction execution and trading venues, etc. This has equally extended to documentation and policy […]

Is achieving MLR compliance for FX and CFD firms a burden or a cost of business? 

MRL Compliance - FX&CFD

A diverse & complex industry sector The Forex (FX) and Contracts for Difference (CFD) sector by its very nature typically involve multi-jurisdictional markets and client bases, undertaking business in more emerging territories where local practices and documentation may not always readily conform to the established norms of recognized markets. But it is also a business […]