- Topics
- Regions
- Events
- Webcasts
- Resources
- CW Exclusives
- Membership
“For tracking litigation, enforcement, and regulatory developments, Compliance Week
should be your prime source.”- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
FCA dings Infinox in first fine under U.K. capital market reforms of 2018
By 
Aaron Nicodemus2025-01-29T18:43:00
The U.K. Financial Conduct Authority (FCA) issued a landmark fine against trading platform Infinox Capital for failing to report “high-risk” transactions, the first-ever enforcement under a 2018 law.
The fine, worth 99,200 pounds (U.S. $123,300), was issued by the agency against Infinox for breaching transaction reporting requirements of the U.K. Markets in Financial Instruments Regulation, which came into effect in January 2018.
Between October 2022 and March 2023, Infinox failed to submit more than 46,000 transaction reports related to single-stock contracts for difference trades executed through one of its corporate brokerage accounts, the FCA said in a press release Wednesday. The law requires that brokers submit transaction reports on such investment products to the agency. The FCA noted it took Infinox a year to provide a “complete and accurate details” of the number of transaction reports that it failed to submit.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
PremiumCriticism mounts against FCA amid growing calls for regulatory reform
When lawmakers slam the U.K.’s chief financial regulator as “incompetent,” it not only opens the doors for others to pile criticism on it, but it sparks a debate about how the organization can be improved–or removed.
-
News BriefFCA apologizes for mishandling fraud allegations against Collateral
The U.K. Financial Conduct Authority apologized to investors in peer-to-peer investment firm Collateral for not acting swiftly enough to prevent Collateral from defrauding its customers.
-
News BriefFCA fines Macquarie Bank $16M for control failures that allowed fake trades
The U.K. Financial Conduct Authority fined the London branch of Australian-based Macquarie Bank Limited more than 13 million pounds (U.S. $16.3 million) for “serious control failures” that allowed a trader to conceal hundreds of fictitious trades over a 20-month period.
More from Regulatory Enforcement
-
News BriefKuCoin latest crypto firm to pay hefty price for violating BSA with $297M penalty
The Sechelles-based owner of cryptocurrency exchange KuCoin has agreed to pay nearly $300 million in penalties–and cease doing business in the U.S. for two years–to settle charges that it failed to properly monitor potential criminal activity on its network.
-
News BriefDOJ indicts five in remote IT work scheme to circumvent North Korean sanctions
Five people, including two Americans, allegedly duped U.S. companies into hiring North Koreans for contract IT work, and funneled millions in U.S. dollars to the sanctioned regime, the Department of Justice said.
-
News BriefEx-nursing home operator who defrauded Medicaid sentenced to 12 years in prision
The former operator of a Massachusetts homecare agency was sentenced to 12 years in prison for defrauding Medicaid of more than $100 million, the Department of Justice said.