Tagged: UNITED KINGDOM

*UK* 2014 FCA UNAUTHORIZED BROKER AND FIRM LIST

This list was obtained from the official FCA website. 

Resource link: http://www.fca.org.uk/news/list?ttypes=warning&yyear=&ssearch=

Considering  this::  No of results your search returned: 3063    Total Pages: 613  It will take too long to copy all of them on to here! Please use the link above to access the page on the FSA site I copied them from. On that page you will be able to click on each name to view more information.

Below are the first 8 pages which covers from August 28, 2014- today, September 23 2014

__________________________________________________________

SEPTEMBER 2014

Loan Machine Limited (clone)

Published: Today   Last Modified : Today


InvestPoint (UK) Ltd

Published: Today   Last Modified : Today


RT Owens & Associates LLC

Published: Today   Last Modified : Today


WB Global Strategic Asset Management

Published: 19/09/2014   Last Modified : 19/09/2014


Martin Kessler (clone)

Published: 18/09/2014   Last Modified : 18/09/2014


Brooke Point Limited/ Broke Point Limited

Published: 17/09/2014   Last Modified : Yesterday


Hirsche Private Asset Management Ltd

Published: 17/09/2014   Last Modified : 17/09/2014


Watts Corporate Services LLC

Published: 17/09/2014   Last Modified : 17/09/2014


Kames Capital in association with Dean Foster Associates (clone)

Published: 17/09/2014   Last Modified : 17/09/2014


Capital Gearing Portfolio Fund (Clone)

Published: 16/09/2014   Last Modified : 17/09/2014


Griffin Advisors Limited

Published: 16/09/2014   Last Modified : 16/09/2014


Cenkos Global Securities (clone)

Published: 16/09/2014   Last Modified : 16/09/2014


Hudson Coe & Associates LLC

Published: 16/09/2014   Last Modified : 16/09/2014


Commodities Link

Published: 16/09/2014   Last Modified : 16/09/2014


Belfius Commercial Finance Limited (clone)

Published: 16/09/2014   Last Modified : 16/09/2014


GE Shaw Management Group

Published: 15/09/2014   Last Modified : 15/09/2014


DuPont Financial / DuPont FX / DP Global Services Ltd (clone)

Published: 15/09/2014   Last Modified : 15/09/2014


China Merchant Securities Limited (clone)

Published: 12/09/2014   Last Modified : 12/09/2014


The Right Loan 4 U (clone)

Published: 11/09/2014   Last Modified : 11/09/2014


Redbrook Motor Company

Published: 11/09/2014   Last Modified : 11/09/2014


Drummonds Initiatives

Published: 11/09/2014   Last Modified : 11/09/2014


LEM Spreads / LE Management Ltd

Published: 11/09/2014   Last Modified : 11/09/2014


GBL Financial Services Ltd (clone)

Published: 11/09/2014   Last Modified : 11/09/2014


Cash Direct UK

Published: 11/09/2014   Last Modified : 11/09/2014


Smith and Stanley Corporate Consultants

Published: 11/09/2014   Last Modified : 11/09/2014


Brookmore Partners/ Brookemore Partners/ Brookmoore Partners/ Brookmore Associates

Published: 11/09/2014   Last Modified : 11/09/2014


Jacob Johnson Consultancy

Published: 10/09/2014   Last Modified : 10/09/2014


Williamson Advisors Ltd

Published: 10/09/2014   Last Modified : 10/09/2014


Bauer and Associates / Bauer Consultants

Published: 10/09/2014   Last Modified : 10/09/2014


Carrington Group LLC

Published: 09/09/2014   Last Modified : 09/09/2014


Jacobs Buchanan Investment Advisors / Jacobs Buchanan Partnership

Published: 08/09/2014   Last Modified : 08/09/2014


PlusFN Ltd / +FN / Equity Sky Capital Marketing Limited

Published: 08/09/2014   Last Modified : 08/09/2014


Fredric & Formby / Fredric and Formby / Fredericks Ltd (clone)

Published: 06/09/2014   Last Modified : 06/09/2014


BAM Capital / BAM Forex (clone)

Published: 05/09/2014   Last Modified : 05/09/2014


Springer Asset Management

Published: 05/09/2014   Last Modified : 05/09/2014

Quick Finance

Published: 05/09/2014   Last Modified : 05/09/2014


Mitsubishi UFJ Financial Group Inc (Clone)

Published: 02/09/2014   Last Modified : 02/09/2014


Marcus KPO Services LLC

Published: 01/09/2014   Last Modified : 01/09/2014


City Equities Ltd (Clone)

Published: 29/08/2014   Last Modified : 30/08/2014


Goldman Shaks (PVT) Ltd

Published: 28/08/2014   Last Modified : 28/08/2014


to view earlier months please click here and start on page 9: http://www.fca.org.uk/news/list?ttypes=warning&yyear=&ssearch=



Merrill Lynch, MERRIL EDGE Investing, MarketPro™ = They are counter party on: BATS |BIDS ATS |NYSE Amex, Arca|Chicago, EDGA, EDGX, ISE Stock Exchange|eBX/LeveL ATS|CBOE C21|Nasdaq Options Market |OMX Phlx.

Pertains to ALL accounts up to and including NASDAQ Level II accounts

____________________________________________________________

The Merril Lynch website is designed to look different than typical trading sites. There’s no Risk Statement link. It actually took over an hour of searching to find what I was looking for- the info that’s normally under “risk statement” or “customer account agreement” – The statement where they inform you about whats really going on.  
They are required to tell you the truth -and they do. It says you cant trust their advice because they are paid to tell you where to invest by the various exchanges and or by the fund/securities provider. They state that they:  Act as the counter party, Purchase holdings against you, act as market makers, profit 100% from acting as the Principle. They advise you to do what will make them the most money- regardless of if its thru your gain or your loss of funds. There’s more-  read below….

Please read the statement below. Warn anyone you know who invests thru Merril Lynch in ANY form at all (mutual funds, securities, stock, all forms of investing)

To follow my path to the information- start here: http://www.ml.com/index.asp?id=7695_15125 scroll to bottom of short page and click  Legal Information.  On that page – scroll down to Routing and Execution Disclosures Made Pursuant to Rules 605 and 606 of SEC Regulation NMS. At the end of the second paragraph of Rule 606 select: “click here” which takes you to this page: Material Aspects of Relationship with Route Venues which I copied to below.
_______________________________________________________

Resource links:
________________________________________________________
and

Merrill Edge MarketPro

SEC Rule 606 Reports – Merrill Lynch, Pierce, Fenner & Smith Incorporated

Disclosure Information:

Disclosure Information: Material Aspects of Relationships with Venues to Which Customer Orders are Routed Merrill Lynch, Pierce, Fenner & Smith Incorporated (“MLPF&S”) is a broker-dealer that executes customer orders as agent and/or principal and receives remuneration for performing these execution services. MLPF&S acts as a registered market maker in numerous Nasdaq securities and may execute customer orders in such securities on a principal basis. MLPF&S also may principally commit capital to facilitate customer transactions or serve as the contra-side to customer orders executed internally through one of the alternative trading systems operated by MLPF&S.
Investors should understand that MLPF&S stands to realize 100% of any profits or losses generated when MLPF&S trades as agent and/or principal in respect of customer orders.
Aside from holdings that MLPF&S may acquire from time-to-time as part of its ordinary market making, block positioning, client facilitation and related hedging activities, MLPF&S (or an affiliate under common control) may acquire equity stakes in market centers as part of a strategic investment. In this regard, MLPF&S or an affiliate owns a minority equity investment stake in the following market centers and therefore stands to participate as a shareholder/investor in the profits that each market center realizes in part from the execution of securities transactions, including transactions that may involve orders for the accounts of MLPF&S customers: (i) BATS Exchange, (ii) BIDS ATS, (iii) NYSE Amex, (iv) Chicago Stock Exchange, (v) Direct Edge Holdings (EDGA Exchange, EDGX Exchange and ISE Stock Exchange), (vi) eBX/LeveL ATS, (vii) NYSE Arca, (viii) NYSE Amex, (ix) CBOE C2, (x) Nasdaq Options Market, (xi) Nasdaq OMX Phlx.
Additionally, MLPF&S is affiliated with Merrill Lynch Professional Clearing Corp. (“ML Pro”), which acts as a market maker on certain options exchanges, including the CBOE, CBOE C2, ISE, BATS Exchange, NYSE Arca, NYSE Amex, Nasdaq Options Market and Nasdaq OMX PHLX. Accordingly, MLPF&S may stand to indirectly share in the profits or losses that ML Pro generates by transacting as options market maker, including transactions that may involve orders for the accounts of MLPF&S customers.
MLPF&S routes customer and proprietary orders to national securities exchanges, alternative trading systems, electronic communications networks, and broker-dealers. Based on their fee schedules, certain market centers offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center to MLPF&S over a period of time may exceed the charges assessed. MLPF&S participates in the options order flow programs sponsored by the NYSE Amex Options, CBOE, ISE, NYSE Arca and PHLX. These exchange-sponsored programs offer payments for listed option orders that are directed to such options markets.
_____________________________________________________________

I’m now researching the UK business documents and will post that info in a separate post. Link to the UK data on their website is here:

http://www.ml.com/?id=7695_71373_71375_71390

Comment in Global Wealth Management documents :

Where this communication is sent by a branch of Merrill Lynch International Bank Limited, please note that mutual fund materials are only directed at persons to whom, and are distributed only to persons to whom, unregulated collective investment schemes may be promoted in accordance with the rules of the UK Financial Services Authority, including in particular Rule 3.11 of the Conduct of Business sourcebook (“relevant persons”). Such investments are available only to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such investments will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on these materials. Merrill Lynch does not operate as a banking entity in all jurisdictions.

while its detailing that only the person whom it was sent to is whom can act on the offer- it reveals that the Financial Services Authority in UK allows Unregulated Collective Investment Schemes!

The Financial Services Authority is in charge of Regulating financial services – so why would it permit unregulated activities to be promoted to anyone?

 

 

     

FCA UNAUTHORIZED brokers added to list Aug 2013-Jan 2014

Jarvis Cohen Associates

Published: 10/01/2014   Last Modified : 10/01/2014 We have published this statement in order to warn investors against dealing with unauthorised firms.


dgfinancialservicesltd@gmail.com (clone)

Published: 10/01/2014   Last Modified : 10/01/2014 We have published this statement in order to warn investors against dealing with unauthorised firms.


LBV Asset Management, LBV (clone firm)

Published: 09/01/2014   Last Modified : 09/01/2014 We have published this statement in order to warn investors against dealing with unauthorised firms.


Gold Asset Associates

Published: 03/01/2014   Last Modified : 03/01/2014 We have published this statement in order to warn investors against dealing with unauthorised firms.


http://www.d2fsl.com / www2.d2financialservicesltd.com (clone firm)

Published: 02/01/2014   Last Modified : 09/01/2014 We have published this statement in order to warn investors against dealing with unauthorised firms.


http://www.svsfx.com.cn (clone firm)

Published: 02/01/2014   Last Modified : 09/01/2014 We have published this statement in order to warn investors against dealing with unauthorised firms.


Protected Today

Published: 31/12/2013   Last Modified : 31/12/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Fast Line Legal Services

Published: 17/12/2013   Last Modified : 17/12/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Leighton Corporate Services LLC

Published: 12/12/2013   Last Modified : 12/12/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Amber Asset Management (clone firm)

Published: 11/12/2013   Last Modified : 09/01/2014 We have published this statement in order to warn investors against dealing with unauthorised firms.


McQueen and Bond

Published: 09/12/2013   Last Modified : 09/12/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


GE Wealth Management (clone firm)

Published: 05/12/2013   Last Modified : 05/12/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Westberg Equity Research Corp (WERC)

Published: 05/12/2013   Last Modified : 05/12/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Firkin Asset Consultants

Published: 04/12/2013   Last Modified : 04/12/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


KSI / Karamanof (clone firm)

Published: 04/12/2013   Last Modified : 04/12/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


First Trade Europe (clone firm)

Published: 03/12/2013   Last Modified : 03/12/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Jupiter P Morgan

Published: 03/12/2013   Last Modified : 03/12/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Emmett Ashford Group

Published: 02/12/2013   Last Modified : 02/12/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Next Financial Network

Published: 28/11/2013   Last Modified : 28/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


DeVere Group UK (clone firm)

Published: 27/11/2013   Last Modified : 09/12/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Estlander & Ronnlund Capital Management (clone firm)

Published: 25/11/2013   Last Modified : 26/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Curtis ISA

Published: 21/11/2013   Last Modified : 21/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Edge Capital Markets

Published: 21/11/2013   Last Modified : 21/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


NCP Financials (clone firm)

Published: 21/11/2013   Last Modified : 02/12/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Ava Capital Markets (clone firm)

Published: 21/11/2013   Last Modified : 02/12/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


First Capital Wealth Limited

Published: 20/11/2013   Last Modified : 20/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Hometrader Group PLC

Published: 20/11/2013   Last Modified : 20/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Dominic Nardone (trading as Trading Knowledge Limited)

Published: 18/11/2013   Last Modified : 18/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Primex – UTIP Trader

Published: 15/11/2013   Last Modified : 15/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


http://www.kingsleyadvice.com (clone firm)

Published: 12/11/2013   Last Modified : 12/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Cristian Pauna

Published: 12/11/2013   Last Modified : 12/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms and individuals.


Paul Atwal

Published: 12/11/2013   Last Modified : 12/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms and individuals.


Fairtrade Wealth Management

Published: 12/11/2013   Last Modified : 12/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Peter Bradshaw (clone of FCA Approved Person)

Published: 12/11/2013   Last Modified : 12/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms and individuals.


Board of International Finance

Published: 11/11/2013   Last Modified : 11/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Strategic Private Equity LLC

Published: 08/11/2013   Last Modified : 12/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Stonehill Securities

Published: 08/11/2013   Last Modified : 08/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


eKash UK Ltd

Published: 08/11/2013   Last Modified : 08/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


British Greatfount Capital / GF Capital

Published: 07/11/2013   Last Modified : 07/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Nationwide Property Buyers Limited

Published: 07/11/2013   Last Modified : 07/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


GF Capital / British Greatfount Capital (UK)

Published: 07/11/2013   Last Modified : 07/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Global Corporate Partners

Published: 07/11/2013   Last Modified : 07/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Tolland & Boch Limited

Published: 07/11/2013   Last Modified : 07/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Wellz Zable Limited

Published: 07/11/2013   Last Modified : 07/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Vincent Clare Limited

Published: 07/11/2013   Last Modified : 14/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Skandia Invest (clone firm)

Published: 06/11/2013   Last Modified : 06/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


First Asset Management Ltd

Published: 06/11/2013   Last Modified : 06/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Protect Life Insurance

Published: 05/11/2013   Last Modified : 05/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Pan American Global Partners

Published: 31/10/2013   Last Modified : 31/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


http://www.sgcbuk.com (Misusing the name of FCA EEA authorised firm)

Published: 30/10/2013   Last Modified : 30/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Protec Advisors

Published: 30/10/2013   Last Modified : 30/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Protec Gold Advisors

Published: 30/10/2013   Last Modified : 30/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Swiss Investor Club AG

Published: 28/10/2013   Last Modified : 28/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Hobart Roth LLC

Published: 28/10/2013   Last Modified : 28/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


http://www.citibankinguk.co.uk (Misusing the name of FCA authorised firms)

Published: 25/10/2013   Last Modified : 25/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Cayenne Trust Investment Plc (clone firm)

Published: 24/10/2013   Last Modified : 24/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Ellis Harper & Co LLC

Published: 23/10/2013   Last Modified : 23/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Pictet Private Wealth Management (clone firm)

Published: 23/10/2013   Last Modified : 07/11/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Hanover Group

Published: 22/10/2013   Last Modified : 31/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Martin Donnelly

Published: 22/10/2013   Last Modified : 22/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Harold and Bauman

Published: 22/10/2013   Last Modified : 22/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Brewer Consulting Group

Published: 22/10/2013   Last Modified : 22/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Steinberg Management

Published: 18/10/2013   Last Modified : 18/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Specialist Investor Funds

Published: 18/10/2013   Last Modified : 18/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


ForexTrada

Published: 18/10/2013   Last Modified : 18/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Quinn & Voakes Capital

Published: 17/10/2013   Last Modified : 25/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Glover Capital Group

Published: 17/10/2013   Last Modified : 17/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Hoden International Clearing

Published: 17/10/2013   Last Modified : 17/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


SKJ Capital Partners (clone firm)

Published: 16/10/2013   Last Modified : 16/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Whitney Cooper Associates

Published: 11/10/2013   Last Modified : 17/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


William Wright (clone individual)

Published: 10/10/2013   Last Modified : 10/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Property Cash Buyers

Published: 10/10/2013   Last Modified : 10/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Rowe Corporate Services

Published: 08/10/2013   Last Modified : 08/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Northern Capital Consultants

Published: 07/10/2013   Last Modified : 07/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


D G Financial Service Partner (clone firm)

Published: 07/10/2013   Last Modified : 07/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Bloomfield Advisory

Published: 03/10/2013   Last Modified : 03/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Qualtrum Adviser LLC

Published: 03/10/2013   Last Modified : 03/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Smith Securities Limited

Published: 02/10/2013   Last Modified : 03/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


One Option Finance Ltd (Clone of FCA authorised firm)

Published: 02/10/2013   Last Modified : 03/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Pacific First Securities

Published: 02/10/2013   Last Modified : 02/10/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


Project Finance Bank

Published: 27/09/2013   Last Modified : 27/09/2013 We have published this statement in order to warn investors against dealing with unauthorised firms.


 

FCA (UK) DISCIPLINARY ORDERS AND REGULATORY DECISIONS Date published: 4 September 2013 (23 names)

 

This report is 36 pages long so here is the link to view the actual report.
 however -the names are listed below:

8/19/2013 FCA UNAUTHORIZED FIRMS ADDED AUGUST 1-19, 2013: MKR Global, Accer, Eclipse Options(clone) and more

copied from the FCA website

resource link:  http://www.fca.org.uk/news/list?ttypes=warning&yyear=&ssearch=

the names were duplicated several times in their list- pardon if I missed deleting all the duplicates!

_____________________________________________________________

Shawz Online Brook (Clone of FCA Authorised Firm)

Published: 16/08/2013


MKR Global Services LLC

Published: 15/08/2013


Accer Mergers & Acquisitions

Published: 15/08/2013



Pensions-UK 123 Ltd

Published: 13/08/2013




CV Global Corp LLC

Published: 09/08/2013



Cramer Private Group

Published: 07/08/2013


Lexington International Group Inc

Published: 07/08/2013


Managed Savings Company Limited

Published: 07/08/2013


AJAJ Group

Published: 07/08/2013


RSI Bank Plc

Published: 05/08/2013



The Pension Help Desk Limited

Published: 02/08/2013


KKR (Clone of FCA Authorised Firm)

Published: 02/08/2013


Braun and Brandt Consulting Firm

Published: 01/08/2013


Solstrand Limited

Published: 31/07/2013


Release My Pension

Published: 31/07/2013


22 July 2013: FCA fines US trader Michael Coscia £600,000 for for deliberate manipulation of commodities markets.

resource link: http://www.moneymarketing.co.uk/regulation/fca-fines-us-trader-600000-for-market-manipulation/1074740.article

____________________________________

FCA fines US trader £600,000 for market manipulation

The Financial Conduct Authority has fined US based high frequency trader Michael Coscia £600,000 for deliberate manipulation of commodities markets.

The fine marks the first time the regulator has taken action against a high frequency trader.

The FCA found between September and October 2011 Coscia used a self-designed algorithmic programme to abuse markets through a “layering” strategy.

Coscia placed thousands of false orders for Brent Crude, Gas Oil and Western Texas Intermediate futures from the US on the ICE Futures Europe exchange in the UK.

Coscia made profits of $280,000 by taking advantage of price movements through his layering strategy at the expense of other traders.

FCA director of enforcement and financial crime Tracey McDermott says: “Mr Coscia was cheating the market and other participants. High Frequency Trading and the use of algorithms are an important and commonplace part of the markets nowadays but in this case these techniques were deliberately designed to abuse the market, undermining its integrity.  This is unacceptable, which is why we have taken tough action to punish Coscia and deprive him of any benefit he acquired.”

The US regulator has imposed a similar fine on Coscia for manipulation of American markets.

FCA April 5 2013 warnings: SFVA Finance (Clone of FCA EEA Authorised Firm)Address: 14 Portland Terrace Southampton Hampshire SO14 7ED Tel: 0238 106 7951

resource link:  http://www.fca.org.uk/news/warnings/sfva-finance-clone

____________________________-__SFVA Finance (Clone of FCA EEA Authorised Firm)

Published: 03/05/2013

We (the Financial Conduct Authority – FCA) have published this statement today in order to warn investors against dealing with unauthorised firms.

This statement is to advise members of the public that an organisation identifying itself to UK citizens as:

SFVA Finance (Clone of FCA EEA Authorised Firm)

Address: 14 Portland Terrace
Southampton
Hampshire SO14 7ED
Tel: 0238 106 7951
Fax: 0238 005 1292
Website: http://www.sfvafinance.com
Email: info@sfvafinance.com

is not authorised under the Financial Services and Markets Act 2000 (FSMA) to carry on a regulated activity in the UK. Regulated activities include, amongst other things, advising on investments and dealing and arranging deals in investments (‘investments’ include stocks and shares). We believe that the organisation may be targeting UK customers.

This entity is using a similar name, refers to the Paris address and FCA Firm Registration Number of a FCA EEA Authorised firm. The following firm has no association whatsoever with the organisation described above that is identifying itself as SFVA Finance:

SFVA Sarl
FCA Firm Registration Number: 483948
EEA Passport to the UK for Insurance Mediation or Reinsurance Mediation Activities
Website:  www.sfva.fr

What does this mean for you?

If you are an investor, you should be aware that the Financial Ombudsman Service and the Financial Services Compensation Scheme are not available if you deal with an unauthorised company or individual.