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# FCA Fines Forex TB Limited £276,100 for Unfair Customer Treatment Under Temporary Permissions Regime
- URL: https://www.theglobalbanker.com/fca-fines-forex-tb-limited-276100-unfair-customer-treatment-temporary-permissions-regime/
- Published: 2024-08-14T08:00:00.000Z
- Updated: 2026-11-10T16:47:07.000Z
- Description: The FCA fined Cypriot CFD firm Forex TB Limited £276,100 for failing to treat customers fairly and for giving investment advice without permission while operating under the TPR.
- Author: TGB Editorial Team
- Tags: Regulations, Europe, #archive

The Financial Conduct Authority published on 14 August 2024 a Final Notice, dated 9 August, imposing a financial penalty of £276,100 on Forex TB Limited, finding that the EEA-headquartered trading firm had treated customers unfairly across multiple areas of its UK operations during the period in which it operated under the Temporary Permissions Regime. 

The Temporary Permissions Regime was introduced following the United Kingdom's departure from the European Union to allow EEA-based firms to continue operating in the UK market while they sought full authorisation from the FCA. Forex TB Limited operated in the UK under the regime.

#### FAILURES SPAN DISCLOSURES, ONBOARDING AND ADVICE

The FCA's investigation found that Forex TB had provided inadequate risk disclosures to its customers, failing to ensure they received clear, accurate, and prominent information about the nature and magnitude of the risks associated with trading the financial instruments on offer. 

The FCA also found that Forex TB failed to take sufficient steps to prevent the onboarding of customers who lacked the knowledge and experience needed to understand the risks of trading CFDs. 

The FCA also found that Forex TB's account managers frequently gave customers investment advice although the firm had no permission to do so, and encouraged some customers to provide false information so they could be treated as professional clients, stripping them of retail protections. UK customers who deposited funds in the period lost about £4.4 million. The FCA would have imposed a fine of £1.215 million but reduced it because the firm showed that amount would cause it serious financial hardship.

#### TPR OBLIGATIONS AND SETTLEMENT

The FCA has made clear through this and other enforcement steps that operating under the Temporary Permissions Regime does not afford firms any reduction in their obligations to treat customers fairly. 

Forex TB Limited agreed to resolve the matter and qualified for a 30% settlement discount.