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TFS-ICAP fined GBP3.4 million by UK FCA for market misconduct

( November 23, 2020, 12:41 GMT | Official Statement) -- MLex Summary: Foreign exchange broker TFS-ICAP has been fined 3.44 million pounds (around $4.6 million) by the UK Financial Conduct Authority for misleading clients. The FCA said today it had issued the penalty to the broker for communicating to clients that trades had occurred at a certain price when no trade had in fact taken place. TFS-ICAP agreed to resolve the case and qualified for a 30-percent reduction in the sanction. The statement follows. The final notice is attached....

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