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High-risk trading fraud warning

The FCA warns about binary options trading, the DWP says all PIP claims will be reviewed, interest-only mortgage owners are urged to sort shortfalls, and mortgage approvals dip.

The FCA is warning about a form of online high-risk trading which some firms are illegally offering in the UK. Binary options trading involves betting on whether anything that can be measured in financial terms, like a currency or share index, will rise or fall below a specified price at a certain time. The FCA began regulating last month which means it's now illegal to sell those trades in the UK without its authorisation. Money Box listener Penny lost nearly 拢17,000 with an unauthorised firm but what can the FCA do in future to protect people like Penny? Christopher Woolard FCA Director of Strategy and Competition explains.

The Department of Work and Pensions has confirmed that all Personal Independence Payment (PIP) claims will be reviewed. It follows a Government decision not to challenge a court ruling that said changes to PIP were unfair to people with mental health conditions. Guest Paul Farmer, Chief Executive of the mental health charity Mind.

Interest-only mortgage holders are being urged to contact their lenders after a financial regulator review found too many people avoid planning how they intend to clear the underlying debt when the mortgage ends. It comes as Bank of England figures show December mortgage approvals reached a three year low. Why? Guests: Jane King, Independent Financial Adviser with Ash-Ridge Private Finance and Samuel Tombs, Chief UK Economist at Pantheon Macroeconomics.

Presenter: Paul Lewis
Producer: Charmaine Cozier
Editor: Jim Frank.

Available now

30 minutes

Last on

Sun 4 Feb 2018 21:00

Chapters

  • Binary options fraud

    High-risk trading warning

    Duration: 08:24

  • Personal Independence Payments

    1.6 million claims will be reviewed

    Duration: 08:03

  • Mortgages

    Interest-only holders warning and approvals dip

    Duration: 11:44

Related links

Investment Fraud

Personal Independenence Payment (PIP)

Mortgages

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  • Sat 3 Feb 2018 12:04
  • Sun 4 Feb 2018 21:00

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