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FSA unauthorised business probe leads to one arrest

A man has been arrested as part of an FSA investigation into a suspected unauthorised foreign exchange trading scheme.

With the City of London Police, the FSA executed a search warrant today at an address in East London.

A 23-year old man was arrested on suspicion of committing offences under the Financial Services and Markets Act 2000 and the Fraud Act 2006.

No-one has been charged at this stage. The FSA’s investigation is ongoing.

The arrest is not linked to any other FSA investigations.

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  1. Not to worry, FSCS will pick up the bill for any missapropiated funds

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