CFDs and trader misconduct move up FSCA’s market-abuse agenda
The regulator is scrutinising how derivative positions, suspicious trading, and failures by gatekeepers can undermine market integrity.
CFDs
Tribunal upholds R1.18m fine and debarment for unauthorised services
Pierre Erasmus said the sanctions were disproportionate, and his dealings with clients were friendships, not formal business relationships.
R1.18m fine and five-year debarment for unauthorised CFD trading
The FSCA’s investigation also found that Petrus Rasmus Erasmus provided trading signals without a licence.
Veracity Markets hit with R10 million fine for unauthorised OTC trading
Nirvesh Financial Services was also penalised for failing to ensure that its representatives, Veracity and its directors, complied with the applicable laws.
FSCA clarifies which trading activities require a licence
The declaration of crypto assets as a financial product does not affect financial services rendered in relation to crypto asset derivatives.
Licensing requirements for trading in derivatives, including CFDs
Having a FAIS licence does not mean that a trading platform can issue over-the-counter (OTC) derivatives, including contracts for difference (CFDs), as principal in South Africa. To do this, the entity must have […]
