Following CFTC the UK FCA fined TFS-ICAP for fraudulent trading practices
It took two years before the UK regulator followed FCA after the U.S. CFTC’s Regulatory Enforcement Action and fined the FCA-licensed FX broker TFS-ICAP for fraudulent trading practices. FCA recently announced that it has imposed a £3.44 million financial penalty on TFS-ICAP Ltd for market misconduct.