CFDs Broker City Credit Capital (UK) Ltd Enters Administration

The UK Financial Conduct Authority (FCA) announced on Tuesday that City Credit Capital (UK) Ltd (CCCUK), a Contracts for Difference (CFDs) trading provider for retail and professional investors, has entered administration.

The regulator has appointed on June 30, 2023, Joint Administrators of CCCUK , Gary Paul Shankland and Jamie Taylor of Begbies Traynor (Central) LLP, and Christopher Andersen of AABRS Limited, who are responsible for managing claims against CCCUK and returning funds to customers where possible.

The FCA has taken action to prevent CCCUK from carrying on any regulated activities by placing restrictions on its permissions on June 20, 2023. Besides, the company was required to preserve its client money and place a notice on its website informing clients that it was no longer permitted to conduct regulated activities and that all client positions would be closed.