Individuals warned of FCA action over CFD non-compliance

An FCA survey of a quarter of operators in the Contracts for Difference market has found some "mid to small sized firms" that have made "few or no" changes in response to the Consumer Duty, introduced over two years ago.

By Neasa MacErlean

And "a minority" of firms simply restate requirements under the Duty as the text of their annual statement to the board. The regulator has now " warned" firms in this category of these and other obligations, proposing to engage directly with them to drive improvements. It says it will also "act against any firms and individuals" that fail to meet the required standards.