High Court fines firm's boss over unauthorised WhatsApp investment advice
Restitution of £530,000+
24HR Trading and Mr Maricar were not authorised by the FCA or exempt from authorisation.
The High Court has ruled that 24HR Trading Academy was unlawfully advising on investments and unlawfully promoting contracts for difference (CFD) trading, fining the man who ran the company £530,000.
The High Court found that the company, run by Mohammed Fuaath Haja Maideen Maricar, contravened the Financial Services and Markets Act 2000 (FSMA). He did so by providing trading signals to consumers,...
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