The FCA restricts the circulation of crypto-derivatives by banning their sale to retail customers

The FCA restricts the circulation of crypto-derivatives by banning their sale to retail customers

FCA measures include banning the sale, marketing and distribution of any derivatives and exchange traded notes with linkage to unregulated cryptoassets, citing “inherent nature of the underlying assets, which means they have no reliable basis for valuation” to justify them. According to Sheldon Mills, interim Executive Director of Strategy and Competition at the FCA, this […]

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The Result of Inadequate Compliance

The Result of Inadequate Compliance

20 September 2020 news about HSBC’s moving millions of Ponzi scheme money through its US business to Hong Kong, soon after the UK’s biggest bank had been heavily fined in the US over money laundering, clearly shows that even heavy weights are susceptible to flaws in the compliance function that inevitably result in enormous damage. […]

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