Direct Market Touch Ltd
Under investigation 02 October 2019
You might be eligible for compensation
Direct Market Touch (DMT) offered stockbroking/trading opportunities to investors, concentrating in the Plus/ISDX/Nex Exchange markets.
Customers have made various allegations against this firm. They centre on its operating methods and include:
- anomalies in trading and reporting,
- concerns on the suitability of risk profiling.
Also, the firm appears to have placed a high concentration of transactions into a small number of companies with the same directors. This has raised potential concerns around conflicts of interest.
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20 Aug, 2020
Our legal team is still looking at issues in connection with the trading activities DMT adopted. We expect to finish this work by the end of August and claims will then be moved to our assessment teams for consideration.
29 May, 2020
FSCS’s investigations into DMT are continuing.
The process has moved to our legal team who are looking at DMT's activities to identify any specific regulatory breaches. We'll provide a further update in due course.
05 Feb, 2020
Investigations into whether DMT owes a civil liability to customers are ongoing.
The business operation of DMT is complex and involves different trading activities across various exchange markets. This means there is still more information to consider before we can say we’ve reached a conclusion about the allegations made against the firm.
We remain in contact with external bodies including FCA and IP Kallis & Co who are helping with our investigation, where possible.
19 Dec, 2019
The FSCS investigation into the activities of Direct Market Touch (DMT) is ongoing. We are focusing on DMT’s trading activity and how this may have affected DMT customers. We’ve spoken with external bodies including Hallbrook Partners Ltd, the FCA and Insolvency Practitioner, Kallis & Co who remain engaged in helping with our investigation.
As such, we’re still in the process of obtaining information and documents to help with the investigation.
08 Nov, 2019
FSCS is currently accepting claims against DMT, although these haven't yet been passed to the claims teams for assessment. Firstly, we need to establish whether there are valid claims against DMT. For this to happen we need to know that DMT owes a civil liability to customers that would enable the firm to be sued in court.
FSCS has been working with Hallbrook Partners Ltd (who represent a large number of customers), and other external bodies. They will help us get relevant documents that will help us reach a view on whether there are valid claims against DMT.