Is Sports Spread Betting Regulated by the FSA?

[dodge149]

Hi all,

I was just wondering whether sports trading/ spread betting is regulated my the FSA. In other words are the guys who work on the trading desk of a firm such as SportingIndex FSA approved persons. I noticed on their site that the company is regualted by the FSA, but does this include all employees.

Thanks.

 

[arabianights]

It is regulated by FSA yes, because of the potential for unlimited losses etc...

If you think about it's just an event derivative

 

[dodge149]

It is regulated by FSA yes, because of the potential for unlimited losses etc...

If you think about it's just an event derivative

Ok, thanks. Im still unclear about whether employees would need to become approved persons. i.e. take the relevant SII exams before dealing directly to their own client base.
Or is it reguarded as wholesale, and therefore not needed?

thanks...

 

[arabianights]

To be perfectly honest I don't know how it works in sports betting - however there is no general requirement to take SII exams per se to be a dealer in any market - it's just one easy way of ensuring requirements are met

 

[dodge149]

ok thanks

 

[dodge149]

ok thanks

I believe now that just because the company is regulated, it doesnt mean that they are approved. Thus because their employees are not giving investment advice they do not need to be FSA approved.

 

[Jon41]

Interesting question. Does this help: FSA Register