UK regulator FCA announced today that it has imposed a £3.44 million financial penalty on FX options broker TFS-ICAP Ltd for market misconduct. Between 2008 and 2015, TFS-ICAP brokers operated a scheme known as printing trades or flying prices. TFS-ICAP brokers did this openly with the goal to generate business. In 2018 the UK broker pleaded guilty to securities fraud in the U.S. and paid a $1.15 million fine.