IG Group’s Response to FCA Letter Highlights Issues in the Industry

[kreslik.news]

Clients that are accepting advice from brokers and introducing brokers (IBs) might be posing risks to the European operations of retail brokers. This morning the FCA highlighted a number of issues that some distributors are violating when securing new client accounts for brokers.

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The review of the industry which the FCA has undertaken is challenging a key on-boarding aspect for the industry. According to the regulator, IBs are frequently misrepresenting risks and giving clients advice on what positions to take on the market.