FCA To Check Online Trading Cos. After Market Abuse Failings

By Najiyya Budaly (November 17, 2021, 12:45 PM GMT) -- The City watchdog has told online trading platforms that it plans to check up on them in person to assess whether they are reporting suspicious transactions, after being concerned that they are not meeting market abuse rules.

The Financial Conduct Authority said on Tuesday that it plans to visit web-based trading platforms, including eToro, IG Group and Hargreaves Lansdown PLC, to ensure that they are monitoring and reporting any suspicious transactions made on their trading venues.

The U.K.'s Market Abuse Regulation, which came into force in 2016, forces trading venues to have systems and controls for detecting suspicious activity and reporting it...

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