FSA, UK\’s financial watchdog, has fined spread betting firm Cantor Index for running misleading advertisements.
The new campaign conducted by the leading financial bookmaker to promote its mobile service, Cantor Mobile, did not contain adequate warnings to inform clients, that could lose far more than their initial deposit.
“Cantor Index should have paid more attention to the greater potential risk posed to less experienced investors and the greater need to ensure that the risks associated with spread betting were likely to be understood by them,” Anna Bradley, FSA\’s director, said.
Cantor accepted the FSA\’s concerns and corrected its adverts within a couple of days. No customers have suffered any loss.