The FCA has fined Dinosaur Merchant Bank Limited (DMBL) £338,000 for failing to put in place effective systems and controls to detect and report suspicious trading in its contracts for difference (CFD) business. CFDs are sophisticated financial products that are used to speculate on various assets going up or down in value. Given their high-risk nature, firms must have strong and reliable surveillance arrangements to prevent insider dealing and market manipulation.In June 2024, DMBL introduced
The FCA has set out plans to take action against Hartley Pensions Limited and an individual involved at the firm. Hartley was a Self-Invested Personal Pension operator, which went into administration in July 2022. The FCA alleges that Hartley provided it with false and misleading information and improperly withdrew and invested substantial amounts of customers’ pension funds, without their consent, to benefit an individual at the firm.The FCA alleges that the individual dishonestly used the pen
The European Banking Authority (EBA) today published a Decision harmonising how National Competent Authorities (NCAs) report under the SEPA Regulation. The Decision complements the existing European Commission’s Implementing Regulation which requires all Payment Service Providers (PSPs) to report data on charges for credit transfers and payment accounts, as well as the shares of transactions rejected due to EU sanctions. The Decision streamlines the second step of this reporting process – from t
Sanctions & settlements professional obligations Other professionals Journalists The AMF Enforcement Committee fines a financial investment advisor and its directors for breaches of their professional obligations