Mr Starling is alleged to have operated schemes that purported to carry out financial futures trading for the benefit of investors.
The alleged offences are as follows:
- Operating, or purporting to operate, a collective investment scheme without authorisation or exemption, contrary to sections 19 and 23 of the Financial Services and Markets Act 2000.
- Two counts of fraud, contrary to sections 1 and 2 of the Fraud Act 2006.
Mr Starling’s first court appearance was at City of London Magistrates’ Court on 21 August 2018. The case was passed to Southwark Crown Court with the first preliminary hearing scheduled for 18 September 2018.
The FCA cannot provide any further comment or information at this time.
Notes to editors:
- On 1 April 2013, the FCA became responsible for the conduct supervision of all regulated financial firms and the prudential supervision of those not supervised by the Prudential Regulation Authority (PRA).
- The FCA has an overarching strategic objective of ensuring the relevant markets function well. To support this, it has three operational objectives: to secure an appropriate degree of protection for consumers; to protect and enhance the integrity of the UK financial system; and to promote effective competition in the interests of consumers.
- Find out more information about the FCA.
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