The Committee on Payments and Market Infrastructures (CPMI) has published a consultative document, Discussion note - Reducing the risk of wholesale payments fraud related to endpoint security.This strategy aims to help focus industry efforts to tackle ...
G20 Leaders agreed in 2009 that all over-the-counter (OTC) derivatives contracts should be reported to trade repositories (TRs) as part of their commitment to reform OTC derivatives markets in order to improve transparency, mitigate systemic risk and p...

Pre-trade transparency waivers

On 28 September 2017, ESMA issued a public statement regarding the joint work plan of ESMA and NCAs for opinions on MiFID II pre-trade transparency waivers. The statement explains that, while ESMA intends to finalise the opinions on equity waivers by the end of 2017, due to the high number and complexity of applications that need to be assessed, it is unlikely to be in a position to issue opinions on a majority of non-equity waiver notifications before 3 January 2018.

In light of ESMA’s clarification of its process, we will now communicate responses on complete non-equity waiver applications before the finalisation of ESMA opinions. Any waiver we communicate will take effect from 3 January 2018, and applicants should prepare on that basis. However, waivers may be subject to review once an ESMA opinion has been provided. If we decide to amend our response in light of that review, we will contact the affected applicant to discuss with them the period of time that would be reasonably practicable for them to adapt their rules, systems and processes in order to comply before we take any final decision.

ESMA also referred to applications that miss essential information required for a compliance assessment under MiFIR. The FCA conducts its own review of completeness before submitting to ESMA and will contact venues directly where we believe information is missing.

In relation to equity waiver applications, our plan remains to communicate decisions after finalisation of ESMA opinions.

Commodity position limits

In response to ESMA’s Work Plan for ESMA opinions on position limits, the FCA intends to start publishing in October position limits that will come into effect on 3 January 2018 on commodity derivatives contracts traded on UK trading venues. 

In the event that we decide it is necessary to change these limits in the light of ESMA opinions, or as otherwise required under MIFID II, we will provide an appropriate notice period before the revised limit replaces the initial limit to allow market participants to adjust positions and, if eligible, apply for a hedging exemption.

The FCA’s work plan as detailed can also be found on our MiFID II webpage.

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Almost all firms and individuals carrying out financial services activities in the UK have to be authorised or registered by us. This firm is not authorised or registered by us but has been targeting people in the UK, claiming to be an authorised firm.

This is what we call a 'clone firm'; and fraudsters usually use this tactic when contacting people out of the blue, so you should be especially wary if you have been cold called. They may use the name of the genuine firm, the 'firm reference number' (FRN) we have given the authorised firm or other details.

You can find out more about this scam tactic and how to protect yourself from clone firms.

Clone firm details

Fraudsters are using or giving out the following details as part of their tactics to scam people in the UK:

AMAC Mortgages & Loan Ltd (clone of FCA authorised firm)

Address: 9 Charlotte Dr, Gosport, London, PO12 4GS, United Kingdom (this was a previous trading address belonging to the FCA authorised firm below)

Email:[email protected], [email protected], [email protected], [email protected] 

Website: www.amacmtgltd.com

Be aware that the scammers may give out other false details or mix these with some correct details of the registered firm.

FCA authorised firm details

This FCA authorised firm that fraudsters are claiming to work for has no association with the ‘clone firm’. It is authorised to offer, promote or sell services or products in the UK and its correct details are:

Firm Name: AMAC Mortgages Limited 

Firm Reference Number: 302881

Address: Hills Barns, Unit G, Appledram Lane South, Chichester, West Sussex, PO20 7EG

Telephone: 01246 776688, 02392 581185

Email:[email protected], [email protected] 

Website: www.amacmortgages.co.uk 

How to protect yourself

We strongly advise you to only deal with financial firms that are authorised by us, and check the Financial Services Register to ensure they are. It has information on firms and individuals that are, or have been, regulated by us.

If you want to check a consumer credit firm that may not yet have been authorised by us, please also check the Interim Permission Register.

If a firm does not appear on the Register but claims it does, contact our Consumer Helpline on 0800 111 6768.

There are more steps you should take to avoid scams and unauthorised firms.

You should also be aware that if you give money to an unauthorised firm, you will not be covered by the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) if things go wrong.

Report a clone firm

If you think you have been approached by an unauthorised or clone firm, or contacted about a scam, you should contact us. If you were offered, bought or sold shares, you can use our reporting form.

What to do if your firm is cloned

If you think your authorised firm has been cloned or scammers are fraudulently using your name or other details, contact our Firm Helpline on 0300 500 0597.

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Almost all firms and individuals carrying out financial services activities in the UK have to be authorised or registered by us. This firm is not authorised or registered by us but has been targeting people in the UK, claiming to be an authorised firm.

This is what we call a 'clone firm'; and fraudsters usually use this tactic when contacting people out of the blue, so you should be especially wary if you have been cold called. They may use the name of the genuine firm, the 'firm reference number' (FRN) we have given the authorised firm or other details.

You can find out more about this scam tactic and how to protect yourself from clone firms.

Clone firm details

Fraudsters are using or giving out the following details as part of their tactics to scam people in the UK:

CAL Investments Ltd (clone of FCA authorised firm)

Telephone: +44 (0)20 3477 3622, +44 (0)20 7399 3380

Email:[email protected]

Be aware that the scammers may give out other false details or mix these with some correct details of the registered firm.

FCA authorised firm details

This FCA authorised firm that fraudsters are claiming to work for has no association with the ‘clone firm’. It is authorised to offer, promote or sell services or products in the UK and its correct details are:

Firm Name: CAL Investments Ltd

Firm Reference Number: 114008

Address: Becket House, 36 Old Jewry, London, EC2R 8DD

Telephone: +44 20 7397 3968

Email:[email protected], [email protected]

How to protect yourself

We strongly advise you to only deal with financial firms that are authorised by us, and check the Financial Services Register to ensure they are. It has information on firms and individuals that are, or have been, regulated by us.

If you want to check a consumer credit firm that may not yet have been authorised by us, please also check the Interim Permission Register.

If a firm does not appear on the Register but claims it does, contact our Consumer Helpline on 0800 111 6768.

There are more steps you should take to avoid scams and unauthorised firms.

You should also be aware that if you give money to an unauthorised firm, you will not be covered by the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) if things go wrong.

Report a clone firm

If you think you have been approached by an unauthorised or clone firm, or contacted about a scam, you should contact us. If you were offered, bought or sold shares, you can use our reporting form.

What to do if your firm is cloned

If you think your authorised firm has been cloned or scammers are fraudulently using your name or other details, contact our Firm Helpline on 0300 500 0597.

Let's block ads! (Why?)

Almost all firms and individuals carrying out financial services activities in the UK have to be authorised or registered by us. This firm is not authorised or registered by us but has been targeting people in the UK, claiming to be an authorised firm.

This is what we call a 'clone firm'; and fraudsters usually use this tactic when contacting people out of the blue, so you should be especially wary if you have been cold called. They may use the name of the genuine firm, the 'firm reference number' (FRN) we have given the authorised firm or other details.

You can find out more about this scam tactic and how to protect yourself from clone firms.

Clone firm details

Fraudsters are using or giving out the following details as part of their tactics to scam people in the UK:

Atom8 Markets (clone of FCA authorised firm)

Email:[email protected]

Website: http://atom8markets.com

Be aware that the scammers may give out other false details or mix these with some correct details of the registered firm.

FCA authorised firm details

This FCA authorised firm that fraudsters are claiming to work for has no association with the ‘clone firm’. It is authorised to offer, promote or sell services or products in the UK and its correct details are:

Firm Name: Atom8 Financial Services LLP

Firm Reference Number: 590299

Address: 2nd Floor, Centenary House, Palliser Road, London, W14 9EQ

Telephone: +44 (0)20 7043 5050, +44 (0)20 3405 3910

Email:[email protected] 

Website: www.atom8.com

How to protect yourself

We strongly advise you to only deal with financial firms that are authorised by us, and check the Financial Services Register to ensure they are. It has information on firms and individuals that are, or have been, regulated by us.

If you want to check a consumer credit firm that may not yet have been authorised by us, please also check the Interim Permission Register.

If a firm does not appear on the Register but claims it does, contact our Consumer Helpline on 0800 111 6768.

There are more steps you should take to avoid scams and unauthorised firms.

You should also be aware that if you give money to an unauthorised firm, you will not be covered by the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) if things go wrong.

Report a clone firm

If you think you have been approached by an unauthorised or clone firm, or contacted about a scam, you should contact us. If you were offered, bought or sold shares, you can use our reporting form.

What to do if your firm is cloned

If you think your authorised firm has been cloned or scammers are fraudulently using your name or other details, contact our Firm Helpline on 0300 500 0597.

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SummaryFocusThis paper tests whether longer relationships between banks and their clients have a real impact on firms' behaviour. In particular, we study whether firms with longer banking relationships invested more in physical capital and employed mor...