Friday, December 22, 2017

FxPro unnerved by the FCA and will remain in private hands for now

Retail Forex broker FxPro has abandoned plans for a London stock market flotation as a result of the UK regulator’s plan to crackdown on the growing financial spread betting market, Sky News reported earlier.

FxPro has tens of thousands of UK clients but the sector received an unexpected blow in December when the Financial Conduct Authority announced plans to cap the amount that retail investors can risk when using such services.

According to Sky News, FxPro has written to a number of prospective non-executive directors lined up for boardroom positions following the IPO to inform them that the company will remain in private hands for now.


Post a Comment