The FCA has secured more than £100,000 to repay consumer victims of Mohammed Maricar, who set up a forex ‘trading academy’ that used WhatsApp to provide unauthorised investment advice.

The Financial Conduct Authority has warned firms offering investments in Contracts for Difference (CFDs) that it will take swift action in future to prevent consumer harm.

The Financial Conduct Authority (FCA) has acted to stop Cyprus-based BDSwiss Holding Plc, and other firms from the BDSwiss Group, from offering high risk contracts for differences (CFDs) to UK investors.

The FCA has taken action to stop four Cypriot investment firms that used unauthorised celebrity endorsements from continuing to offer high risk contracts for difference (CFDs) to UK investors after a number of customers lost more than £100,000 to the schemes.