The FCA seeks a declaration that the Defendants have contravened, or been knowingly concerned in, contraventions of sections 19 and 21 of the Financial Services and Markets Act 2000 (FSMA). The FCA also seeks a restitution order against the Defendants under s. 382 FSMA enabling the orderly return of consumer funds and holding the Defendants liable to pay any shortfall in those funds, together with an injunction under s. 380 FSMA restraining the Defendants from future contraventions.
Almost all firms and individuals carrying out financial services activities in the UK have to be authorised or registered by us. This firm is not authorised or registered by us but has been targeting people in the UK, claiming to be an authorised firm. This is what we call a ‘clone firm’; and fraudsters usually […]
Speaker: Christopher Woolard, Executive Director of Strategy and CompetitionLocation: Future of Retail Banking 2017, LondonDelivered on: 28 November 2017 Highlights: Retail banking is on the cusp of some of the most significant change the sector has ever seen in the form of PSD2 and Open Banking. These changes are welcome, as competition has long been a […]