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FCA orders financial betting firms to do more to protect customers

Discussion in 'Market News' started by Lily, Feb 2, 2016.

  1. Lily

    Lily Forum Member

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    Regulator writes to companies over sale of products such as spread bets, also telling them to boost money laundering defences

    The Financial Conduct Authority has told companies selling complex financial bets to do more to protect customers from losses and guard against money laundering.

    The regulator has written to chief executives expressing concern about the results of a survey it conducted into 10 firms that offered products without advice. The report examined sales of contracts for difference, spread bets and “rolling spot” foreign exchange trades, all of which the FCA classes as CFDs.

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