The Financial Conduct Authority has fined BGC Brokers LP, GFI Brokers Limited and GFI Securities Limited (together, BGC/GFI) £4,775,200 for failing to ensure they had appropriate systems and controls in place to effectively detect market abuse.

The FCA has provisionally banned three bond traders for market manipulation.

The Financial Conduct Authority has fined Paul Walter, a former Bank of America Merrill Lynch International Limited (BAML) bond trader, £60,090 for “engaging in market abuse.”

The Financial Conduct Authority has permanently banned and imposed financial penalties on two former employees of collapsed firm Worldspreads Limited (WSL) which used fake client accounts and made unauthorised use of real client accounts.