FIN.

FCA stops Cypriot firm offering CFDs in UK

FCA has stopped a Cypriot firm that was operating in the UK under the TPR from conducting any regulated activities in the UK and to close all its trading positions and return money to customers.

It found the firm, which offers high risk CFDs to retail customers, did so using a variety of “inappropriate” techniques, including misleading financial promotions and pressure tactics – also including encouraging customers to declare themselves to be professionals when they were not.

FCA has used its powers to impose a Requirement on the firm with immediate effect.

Emma Radmore