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Network Of Traders Or Financial Advice? FCA Swoops In On Social FX Trading Platforms

From leaprate.com

It was only a matter of time before one of the world's most established financial markets regulators took the lead in investigating the possibility of producing specific regulatory guidelines concerning social trading platforms. Today, Britain's Financial Conduct Authority (FCA), which was established last year to supersede the long-standing Financial Services Authority in overseeing non-bank financial services activity in the United Kingdom, has issued a letter to companies offering copy trading services within its jurisdiction which was viewed by the Financial Times, stating its intention to insure that all such ... (full story)

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