On 27 March 2025, we placed restrictions on Direct Trading Technologies (DTT), preventing it from carrying on any regulated activities and restricting access to its assets.
We identified that DTT is failing, or is likely to fail, to meet the standards required of an authorised firm.
Advice for affected investors
Due to the restrictions put in place, the firm is required to ensure that all open trading positions have been closed and investor money is set aside for customers. The firm can no longer offer regulated services, including trading.
If you have any concerns about DTT please contact our Supervision Hub[1].
Key concerns identified
- Lack of systems and controls to prevent financial crime. In particular, DTT’s systems and controls were not adequate to detect or prevent a member of staff from allegedly falsifying documents for the firm’s audit.
- Poor governance and oversight. DTT appears to not have effective processes to identify, manage, monitor and report the risks it is or might be exposed to, or adequate internal control mechanisms, including sound administrative and accounting procedures.
- Failure to cooperate. DTT has not been open and cooperative with the FCA and has failed to ensure that information was appropriately disclosed. In addition, information provided to the firm’s auditor appears to be inconsistent with information separately provided by the firm to the FCA.
We have issued a First Supervisory Notice[2] which explains the reasons we took action on 27 March 2025 against DTT.
The restrictions imposed have removed the firm’s ability to conduct regulatory business, and prevent it from reducing the value of its assets without our consent. A full description of the restrictions on the firm can be found on the Financial Services Register[3].