Henyep Capital Markets (UK) Limited (‘HY CAPITAL MARKETS’) is authorised and regulated by the Financial Conduct Authority (FCA) under Company reference number 186171. To view our license please click here
The FCA Website contains full details of all the regulatory activities for which HY Markets is authorised, together with a list of Directors and Approved Personnel.
About the FCA
The FCA is the single regulator for Financial Services in the UK, and have been given their statutory powers by the Financial Services and Markets Act 2000 (FSMA) – an Act of Parliament. Under this Act, the FCA has 4 statutory objectives which cover their activities. These 4 objectives are as follows:
- Market Confidence – maintaining confidence in the UK financial system;
- Financial Stability – contributing to the protection and enhancement of the stability of the UK financial system;
Consumer Protection – securing the appropriate degree of protection for consumers; and
- The Reduction of Financial Crime – reducing the extent to which it is possible for a regulated business like HY Markets to be used for a purpose connected with financial crime.
HY Markets comply with all relevant and applicable regulatory requirements imposed by the FCA in relation to financial services undertaken on behalf of clients.
Benefits of FCA membership for HY Markets clients
Unlike many other FX brokers, by agreeing to the Client Agreement, you are a client of HY Markets and given the full protections and benefits of FCA regulations. The FCA and its predecessors, are one of the oldest and most respected Regulators of financial services throughout the world, and have very strict authorisation rules. Not all firms that seek authorisation are granted FCA authorised status. As a client of HY Markets, you have the following benefits of FCA regulation:
- The FCA has very demanding capital standards, by which HY Markets must keep capital within the Firm that can only be used to support the regulatory business. HY Markets must report its capital on a monthly basis to the FCA. If HY Markets did not keep sufficient capital on a continuing basis, the FCA would cancel the licence.
- The FCA has the authority to visit firms unannounced on an ad-hoc basis to check all their records, and client accounts, to ensure the firm is adhering to the highest standards of compliance.
- The Firm has a full-time, qualified Compliance Officer who is independent of management. He reports directly to the Chairman of the Group and ensures day-to-day compliance with all regulatory responsibilities and fair treatment of clients, including the resolution of clients complaints.
- The FCA requires HY Markets to maintain systems and controls for treating customers fairly. HY Markets needs to demonstrate to the FCA that we treat all our customers fairly.
- HY Markets is required to produce a number of reports to the FCA to demonstrate that the Company maintains sufficient liquid capital to cover client deposits and any potential fluctuations in the Company's expenses on an ongoing basis.
- It is mandatory for external auditors to independently review the accounts and client money procedures and report directly to the FCA. HY Markets have appointed Moore Stephens, one of the world's leading independent auditing practises as their auditors.
- All the employees of HY Markets who execute deals as per client requests must be approved by the FCA. Such employees ' backgrounds are thoroughly scrutinised by the FCA to ensure that they have the required levels of qualifications, integrity, training and competence prior to being authorised. A full list of all approved persons is contained on the FCA website