FIN.

FCA fines for MiFIR transaction reporting failures

The FCA has imposed its first fine for failing to report transactions as required by MiFIR. Infinox Capital Limited failed to submit transaction reports for single stock CFD trades executed through one of its corporate brokerage accounts for a 6 month period to the end of March 2023. A third-party review identified the failure, but the firm did not report it to the FCA. Instead, the FCA independently identified it from the transaction data the firm submitted.

The FCA fined the firm nearly £100,000, in its first fine for a breach of transaction reporting requirements since they became law under MiFIR.

Michael Lewis