Tuesday May 13 2025

News Source: Global Exchanges

Focus: General - Global Exchanges

Type: General

Country: UK

Link: https://tinyurl.com/mr7r5rrs




The Financial Conduct Authority (FCA) placed restrictions on Direct Trading Technologies (DTT), preventing it from carrying on any regulated activities and restricting access to its assets.

Due to the restrictions put in place, the firm is required to ensure that all open trading positions have been closed, and investor money is set aside for customers. The firm can no longer offer regulated services, including trading.

Key concerns identified

  • Lack of systems and controls to prevent financial crime. In particular, DTT’s systems and controls were not adequate to detect or prevent a member of staff from allegedly falsifying documents for the firm’s audit.
  • Poor governance and oversight. DTT appears to not have effective processes to identify, manage, monitor and report the risks it is or might be exposed to, or adequate internal control mechanisms, including sound administrative and accounting procedures.
  • Failure to cooperate. DTT has not been open and cooperative with the FCA and has failed to ensure that information was appropriately disclosed. In addition, information provided to the firm’s auditor appears to be inconsistent with information separately provided by the firm to the FCA.

Click on the above link for further information