From Losses to Litigation: client’s lawsuit against broker explained
Introduction A recent court case[1] saw a client of Forex Capital Markets Limited (“FXCM”) looking to recover losses and substantial damages arising from trading oil CFDs in 2020. The case is particularly interesting with Consumer Duty on the horizon and the prospect of brokers facing higher expectations for the standard of care that they provide […]
The FCA’s largest fine of 2022 – a lesson in regulatory change management
The FCA fined Citigroup Global Markets Limited (“CGML”) £12.6m for failing to properly implement the Market Abuse Regulation (“MAR”). Regulatory change is coming thick and fast for financial services firms, making effective change management controls more important than ever. Below we look at some of the underlying failures in this case, in the hope that […]
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