UK’s new regulator FCA takes first action against Forex fraud
UK’s new regulator FCA takes first action explained by professional Forex trading experts the “UK’s new regulator FCA takes first action” FX trading team.
UK’s new regulator FCA takes first action
The FCA has charged Alex Hope of Docklands, London and Raj Von Badlo of Bourne End, Buckinghamshire with 10 offences relating to a Forex investment scheme they operated. The FCA has alleged they both bilked over £5 million from investors.
The charges come after the FCA’s predecessor, the Financial Services Authority (FSA) along with City of London Police searched the addresses the men occupied. Both men were arrested and have been released on bail.
This is the FCA’s first action taken against Forex fraud, since it formally came into being earlier this month replacing the FSA, which had been reformed into two entities, the FCA and the PRA, or the Prudential Regulation Authority.
UK’s new regulator FCA takes first action Conclusion
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