
FCA warns on currency converter tools
UK watchdog follows up on investigation into payment institutions and their use of interbank rate in online tools

The Financial Conduct Authority (FCA) has warned that several payment institutions and e-money institutions have failed to comply with a set of guidelines issued by the UK regulator and that they continue to offer interbank rates in a potentially misleading way.
In a statement released on July 19, the FCA said it is actively considering further investigation and action in this area. In doing so, “we will have particular regard to any firms which do not take appropriate steps in light of today’s
More on Retail
IG research explores correlation between politics and FX data levels
New timeline of global historic politics impacting forex offered online
Esma warns retail brokers over ‘pro’ push
Regulator warns brokers not to promote professional status to unqualified investors
Austria imposes permanent restrictions on CFDs, bans binary options
In making Esma’s curbs on CFDs lasting, the regulation follows action by the Netherlands and others
CMC posts profit warning; Foley resigns
New Esma margin rules have “resulted in retail clients trading less”, online trading firm says
IG opens for online FX trading in US
Retail FX broker launches new subsidiary after navigating regulatory hurdles
Saxo Capital Markets: Esma leverage limits on CFDs good for industry
The policy will reward well-behaved retail FX brokers
FCA mulls restrictions on CFDs
The restrictions are fundamentally similar to those imposed by Esma earlier this year, but would have permanent effect
Asia: the new frontier for global payments
With regulatory barriers lowered, the region is ripe for new entrants