The UK’s Financial Conduct Authority (FCA) has issued a warning to investors regarding Bitfinex, stating that the exchange may be promoting financial services without proper authorization. The FCA cautions potential investors to avoid dealing with Bitfinex, as they will not have access to the Financial Ombudsman Service for resolving complaints and will not be protected by the Financial Services Compensation Scheme in case of adverse events. Bitfinex has responded to the listing by expressing disappointment and stating that it has taken measures to meet the FCA’s requirements. The FCA’s warning is part of new rules that aim to address concerns regarding the marketing of crypto assets. The regulator believes that promotional materials often fail to adequately address the risks associated with cryptocurrency investments. The FCA has called upon companies responsible for approving financial promotions related to cryptocurrency firms to adhere to the new regulatory guidelines strictly. Bitfinex believes it is fully compliant with these rules and has adequate risk warnings in place. The exchange remains committed to providing services to customers in a way that is fully compliant with regulatory requirements.

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Information	Details
Geography	Europe
Countries
Sentiment	negative
Relevance Score	1
People	None
Companies	Financial Ombudsman Service, Financial Conduct Authority (FCA), Bitfinex, Financial Services Compensation Scheme
Currencies	None
Securities	None