Basic Search  |  Summaries  |  Advanced Search

Violation Tracker UK Individual Case

Company: Forex Capital Markets Ltd and FXCM Securities Ltd
Penalty: £4,000,000
Year: 2014
Date: 24 February, 2014
Offence Group: financial offences
Offence Type: investor protection violation
Violation Description: Forex Capital Markets and FXCM paid a £4 million fine in settlement of a finding by the FCA that the companies failed to treat customers fairly by failing to pass on profits made from favourable price movements in forex trades. The trades were subject to asymmetric price slippages where if in the time between a customer's order being placed by FXCM and execution of that order the price moved the company would pass on any resulting loss to the customer but retain any benefit for itself.
Action Type: agency action
Settlement Type: settlement of FCA Decision
Agency: Financial Conduct Authority
Source of Data(click here)