UK Broker Sued For £3.7M Over Risky Oil Contracts

Law360, London (July 19, 2021, 3:33 PM BST) -- A financial broker is being sued for up to £3.7 million ($5 million) over claims that the company breached regulatory guidelines by allowing an inexperienced client to enter into speculative derivatives trades.

Lawyers for Robert Day — managing director of a logistics company — have argued in a recent particulars of claim at the High Court that Forex Capital Markets Ltd. should have judged "that it was not appropriate" for him to get involved in risky transactions.

Forex Capital would have warned Day not to trade in so-called contracts for difference if it had followed guidelines set out by the Financial...

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