The decision by the U.K.’s financial regulator to fine a small trading platform around ten percent of its annual profits under previously unenforced rules has wider ramifications for the sector.
Experts say the recent sanction under the 2018 U.K. Markets in Financial Instruments Regulation (MiFIR) shows that the Financial Conduct Authority (FCA) is monitoring firms’ trading activities and will take tough action if necessary. Furthermore, firms should not presume that a lack of case law indicates that the regulator is not watching.
