In what is proving to be a “big news” day, the FCA has announced a fine levied against a broker for various failings, including failing to carry out “effective monitoring” under MAR Article 16(2) as well as other failings. The broker had failed to submit Suspicious Transaction or Order Reports (STOR) on several occasions. MAR Article 16(2) applies to “Professional Persons Arranging or Executing Transactions” (PPAET), which includes many energy and commodity market participants that are not financially authorised. The fine also relates to other failings that apply to authorised firms. The notice against the firm can be found here. Three directors of the firm have also been personally fined. The notices can be found here, here and here. This fine follows a larger fine issued for breaches of Article 16(2) recently levied (see here).
ACER has opened registration for the “REMIT forum” that is to be held online on 25th October. Registration is available here. ACER will also be running a “REMIT crash course” on 24th October, which can be registered for here.