FCA Seeks £1M In Client Funds From Unauthorized Broker

Law360, London (April 16, 2019, 12:04 PM BST) -- The Financial Conduct Authority has gone to the High Court in London as it seeks to recover more than £1 million ($1.3 million) from an unauthorized broker that allegedly failed to invest the money on behalf of its clients.

The FCA has won permission from the court to delay proceedings as it seeks £1.05 million from London-based XCore Capital Ltd. and its managing director Jonathan Chitty without going to a full trial. Deputy Master Jonathan Arkush stayed proceedings in an order dated April 12 to allow the FCA, which raided XCore’s offices in August, to apply for summary judgment in the...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!