FCA wins High Court case against unauthorised forex firm
To repay £900,000 to customers
"If they’re not authorised, it’s probably a scam" - the FCA's Mark Steward
A financial services firm that received at least £1m from investors but only used a small amount of it for trading has been held to have carried out an unauthorised investment scheme.
The High Court declared Xcore Capital Ltd and director Jonathan Chitty should have their assets frozen in late November 2018 before, on 14 May, the court held their foreign exchange investment scheme had breached...
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