Argetex Group Plc announced today that their main subsidiary, Argetex LLP, has agreed on a voluntary claim (“Vreq”) imposed by the United Kingdom’s Financial Behavior Authority (FCA).
Vreq introduces a business restriction that requires Argetex LLP to stop any regulated activity, not register and board new customers and not open new currency transactions. These restrictions also require the business to take all reasonable measures to stop inbound payments from existing customers.
These measures are part of FCA’s ongoing supervisory commitment to Argetex LLP after recent pressure on market volatility and liquidity.