The UK’s Financial Conduct Authority (FCA) has pulled the plug on Direct Trading Technologies UK Ltd (DTT), revoking its license and freezing the firm’s assets after uncovering serious internal failings including the use of allegedly fake audit documents.
The move, which took effect on March 27, 2025, stops DTT from offering any regulated financial services in the UK. The FCA has also ordered the company to close all active trading positions and return funds to its clients as soon as possible.
“We’ve imposed restrictions on DTT that prevent it from continuing regulated activity and accessing any of its assets,” the FCA said in an official statement released Friday.
Fake Audit Docs Spark Regulator Crackdown
The trouble began in January 2025, when auditors found what they believed to be fabricated documents in the company’s financial records. These questionable files were reportedly used to justify a large financial transaction, immediately triggering red flags over DTT’s internal systems and risk controls.
Following the audit, the FCA uncovered deeper problems including widespread governance and compliance failures. It appears the firm lacked the basic infrastructure to properly manage risk or prevent internal misconduct, a dangerous oversight for any broker, especially one operating under a matched principal model.
Poor Oversight and Cooperation
The FCA noted that DTT’s leadership had failed to establish reliable oversight mechanisms, allowing misconduct to go undetected. Even more troubling, the firm allegedly offered inconsistent information to both its auditors and the FCA during the investigation, further eroding the regulator’s trust.
As a result, by March 28, 2025, the FCA barred DTT from accessing or transferring any of its assets without explicit approval. The firm has been instructed to return all customer funds and ensure every open trading position is closed.
“All trading activity must stop. Client money must be protected and returned. DTT is no longer authorized to provide any regulated financial services,” the FCA confirmed.
DTT’s Global Footprint
Although based in the UK, DTT operates as part of a broader financial group with operations in Lebanon and Dubai. The group also holds licenses in Lithuania, Vanuatu, and Panama. The UK division has primarily served professional clients since receiving FCA approval back in 2018.
In response to the regulator’s actions, DTT has issued communications to clients stating that no funds will be moved without FCA permission, and that all activity will remain frozen under the imposed restrictions.
