The Financial Services Authority (FSA) has fined London-based foreign exchange broker, ActivTrades, The Wall Street Journal reports. The U.K. market regulator has ordered the firm to pay firm £85,750 for failing to protect clients’ assets.
As per the FSA’s client money rules, firms are required to keep client money separate from the firm’s money in segregated accounts. ActivTrades put up to £23.6 million of client money at risk between April 2009 and September 2010 by failing to separate it from corporate assets.
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