NCM Investment, a financial brokerage firm based in Kuwait, has received authorization from the United Kingdom’s Financial Conduct Authority (FCA) to operate under the name NCM Financial UK Ltd. This significant milestone allows NCM Investment to broaden its reach within the highly regulated financial market of the UK, a key achievement for the company founded in 2009.
NCM Investment At a Glance
NCM Investment specializes in a range of financial instruments, including foreign exchange (FX), commodities, precious metals, contracts for difference (CFDs), and other related products. With this new authorization, the firm aims to enhance its services by adhering to the FCA’s stringent standards for financial operations and consumer protection.
The FCA serves as the largest financial regulator in the UK, overseeing the conduct of firms authorized under the Financial Services and Markets Act 2000. It is responsible for regulating behavior in retail and wholesale financial markets, supervising trading infrastructure, and ensuring firms not regulated by the Prudential Regulation Authority (PRA) adhere to prudential regulations.
As an FCA-authorized entity, NCM Financial UK Ltd now possesses specific permissions to carry out various financial activities. Consumers dealing with the firm will benefit from protections under the Financial Services Compensation Scheme (FSCS). This means that if NCM Financial UK Ltd were to go out of business and owe money, eligible consumers could claim compensation. Additionally, clients have the right to file complaints with the Financial Ombudsman Service should issues arise with the firm’s services.
NCM Investment has been expanding its global footprint, operating in several countries, including Jordan, Turkey, Malaysia, and the UAE. The firm’s strategic expansion into these regions aligns with its goal to provide comprehensive financial brokerage services across diverse markets.
The FCA’s decision to grant NCM Financial UK Ltd authorization comes at a time when regulatory scrutiny is intensifying globally. The FCA has been proactive in its efforts to protect consumers, especially in the retail investment and lending sectors, which account for 85% of its interventions. The regulator received 5,722 reports of potential unauthorized activities and issued 597 alerts, 11% of which were related to clone scams. These scams involve fraudsters impersonating authorized firms to deceive consumers, often through online breaches of financial promotion rules.
NCM Financial UK Ltd’s FCA authorization positions the firm favorably in a competitive market, demonstrating its compliance with the highest regulatory standards. The authorization is expected to enhance the firm’s credibility and attract a wider clientele seeking secure and transparent financial services.
