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Merchant bank find by FCA over market abuse surveillance failures

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Senior managers at the bank have also been accused of failing their governance responsibilities. GRIP Montage: FCA

Bank has been accused of not having in place effective systems and controls to detect and prevent potential market abuse.

 
The UK’s financial regulator has fined Dinosaur Merchant Bank Limited (DMBL) £338,000 ($448,233) for failures to “detect and report suspicious trading in its contracts for difference (CFD) business.”

The financial penalty results from suspicious trading activity on DMBL’s platform for a five-month period between June and October 2024. During that period,

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