Spread-betting boss quits

THE finance boss of CMC Markets quit as the trading firm warned of a steep fall in revenues due to a crackdown by regulators.

Grant Foley leaves after six years as chief operating and financial officer.

It came as CMC said revenues from spread-betting this year will be down 37pc on 2018 at £110m. It blamed tough European restrictions on high-risk trades that can expose punters to big losses.

Foley, 46, helped bring CMC to the stock market with a £700m float in 2016. He will stay for the next six months until a replacement is found.