Compliance Monitor

The founder and former CEO of a City-based firm of asset managers has been banned and fined £120,300 by the FCA after the provision of incorrect information to auditors of a corporate client.

The FCA has charged two men and a woman with fraud amidallegationsof false statements that individuals whose retirement savings were placed in high-risk contract for difference (CFD) schemes qualified as professional investors; many victims saw their "pension funds almost entirely lost".

Nine 'finfluencers' - including former participants ofLove IslandandCelebrity Big Brother- have been charged by the FCA in relation to the social media promotion of an unauthorised foreign exchange trading scheme for which they could receive a fine and/or up to two years' imprisonment. They are due to appear before Westminster Magistrates' Court on 13 June.