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Trade surveillance failures lead to £4.7m in fines for three broker firms

FCA reception
Photo: FCA

Thomas Hyrkiel

2 min read
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BGC Brokers LP, GFI Brokers Limited and GFI Securities Limited fined by the FCA for failing to adequately safeguard against potential market abuse.

The Market Abuse Regulations (MAR) took effect in July 2016. MAR set out strict obligations for the detection and reporting of potential market abuse. The new regulations posed a real compliance challenge for many firms because the surveillance systems they had in place at the time struggled to meet the

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