FCA begins proceedings against unauthorised deposit takers

The FCA has started civil proceedings in the High Court against Bright Management Solution, Soccer League International, Soccer League UK.

The regulator has alleged that these three firms, as well as senior individuals who worked at these companies, have been taking unauthorised deposits by accepting money from the public for different projects – including forex trading and crypto-assets.

An interim injunction has been secured by the FCA to stop the activities from continuing, and £1.3m in assets has been frozen pending further hearing.

The FCA has also alleged that two firms – Soccer League International and Soccer League UK – as well as four men who held senior positions at the companies, were each ‘knowingly concerned’ in Bright Management Solution’s contraventions.

A further hearing is due to take place and the FCA indicated it will seek to keep the freezing order in place until further order of the Court.

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