- FCA statement on share trading obligations | FCA
- FCA warns advisers on pursuing claims against own advice
- Trading 212 UK Limited - Financial Conduct Authority
- FCA Regulated Forex Brokers List 2020 (Top 10 UK Brokers)
FCA statement on share trading obligations | FCA
The EU MiFID II and onshored UK MiFID regimes both have share trading obligations (STOs) which mandate investment firms to trade certain shares on regulated markets, multilateral trading facilities, systematic internalisers or third-country trading venues assessed as equivalent by the EU and UK respectively.
FCA warns advisers on pursuing claims against own advice
The onshoring of EU legislation in preparation for Brexit means that the UK will, as well as the EU, have an STO. Applying the same approach as ESMA to the scope of the UK STO would, based on current trading data, mean there would be a large degree of overlap between the UK and EU obligations.
Trading 212 UK Limited - Financial Conduct Authority
67 (in relation to firm type in SUP (Confirmation of firm details 96 )) a firm that only deals or arranges deals in securities or contractually based investments for its own benefit, or for the benefit of an associate.
FCA Regulated Forex Brokers List 2020 (Top 10 UK Brokers)
Apart from the money protection, FCA directs all brokers to protect the clients in case of insolvency under the FSCS (Financial Services Compensation Scheme) with a guarantee of up to £55,555 in compensation.
Ms Butler added: "Our message here is very clear - these practices are completely unacceptable and totally out of line with any concept of fit and proper, which is a requirement on all authorised persons.
Ms Butler said: "We have also had to prevent firms attempting to achieve the same outcome by acquiring control of existing firms to then transfer assets or put forward individuals with a clean regulatory history to front a new operation, in the hope they get through the [regulatory] gateway undetected.
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The statement from ESMA has made clear that the EU’s STO will apply to all shares traded on EU77 trading venues that are shares of firms incorporated in the EU (EU ISINs), and of companies incorporated in the UK (GB ISINs) where these companies’ shares are ‘liquid’ in the EU. This means EU banks, funds and asset managers will not be able to trade these GB or EU ISIN shares in the UK, even where the UK is the home listing of the British or EU company.