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Regulatory Review -FCA with a record number of warnings and BaFin warns against CFD brokers

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UK Watchdog under full steam

It was a tough week for the UK Regulator Financial Conduct Authority (FCA). The UK regulator issued no fewer than 28 investor warnings against unauthorized financial services providers until May 15, 2020. It seems to be record-setting number. The week before that there were 27 warnings. Of the 28 warnings this week, two are Funds Recovery Services Provider and 10 were Forex and CFD Brokers. The rest were distributed among investment advisors, bond sellers, wealth management services, and debt management services.

  • Allianz Global Investors
  • My Scam Adviser / Scam Adviser
  • UK Bonds Group
  • British Bonds
  • Investment Search
  • PGIM Invest / Pru Invest / Pru Indemnity plc / Pru IPO Recovery / Pru Crytpo / PruMail
  • Swingfield Group Ltd / Compare UK Investments / Compare Investments UK
  • Search Investments /
  • Easy Bonds
  • Standard Bonds
  • Invest Compare
  • Lewis & Wright Advocates
  • Step Clear to Change
  • Step Debt Support / National Direct Service
  • Step Debt Line
  • Investment Compare
  • 1stClassFx
  • Investorable
  • ShareFounders
  • Oasis Trade
  • Marketrip
  • 500 Investments / Cabsy Holdings Ltd
  • Q8TradeFX
  • AG Broker
  • Roimax / Atrium Ventures Ltd
  • Redwood ESF

German BaFin against CFD Brokers

On 12 May 2020, the German regulator BaFin issued another warning against dubious, unlicensed online platforms. In particular, BaFin warns against illegal CFD brokers and their aggressive approach to rip off consumers.

On May 11, 2020, BaFin warned that it has not granted World Capital Group, which allegedly operates branches in Zurich, Switzerland, and Lisbon, Portugal, with authorization to conduct banking business or provide financial services. The company is not subject to supervision by BaFin.

In the week before, BaFin warned against several unauthorized payment processors (FinTelegram report here).

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