The Financial Conduct Authority issued a Final Notice prohibiting Kasim Garipoglu from working in UK financial services after finding he is not fit and proper due to a lack of honesty and integrity. Garipoglu owned a firm that provided online trading of foreign exchange and contracts, and the FCA found that between April 2012 and December 2022 he repeatedly disregarded regulatory requirements, undermined compliance and anti-money laundering controls, and encouraged serious misconduct among colleagues. The findings include repeatedly overruling advice that his instructions were illegal, prioritising commercial advantage over regulatory compliance, and deliberately misleading the FCA and other regulators, including through document forgery, falsifying his university degree certificate, inaccurate declarations in an authorisation application for another firm he owned, arranging impersonation in communications with the South African regulator, and having staff sit a required anti-money laundering test on his behalf before later denying it. The firm owned by Garipoglu is no longer authorised by the FCA. His attempts to challenge the prohibition through a tribunal reference and a Court of Appeal appeal were struck out, and the FCA noted it was unable to fine him due to the length of time since he was an approved person.
Financial Conduct Authority 2026-03-13
Financial Conduct Authority bans Kasim Garipoglu from UK financial services for dishonesty and regulatory breaches
The Financial Conduct Authority (FCA) issued a Final Notice prohibiting Kasim Garipoglu from working in UK financial services, citing a lack of honesty and integrity. Garipoglu, who owned a firm offering online trading of foreign exchange and contracts, repeatedly violated regulatory requirements, undermined compliance and anti-money laundering controls, and engaged in serious misconduct. His firm is no longer authorised by the FCA, and his legal challenges against the prohibition were dismissed.