By Reuters
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LONDON - Britain's Financial Conduct Authority said on Thursday it has fined inter-dealer brokers BGC Brokers LP, GFI Brokers Limited, and GFI Securities Limited 4.77 million pounds ($5.80 million)for failing to ensure they had appropriate controls to detect market abuse.
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"Between July 2016 and January 2018, BGC/GFI had manual, automatic and communications surveillance processes that were deficient, and therefore, inadequate in properly addressing the risk of market abuse," the FCA said in a statement.
($1 = 0.8218 pounds)
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