(Bloomberg) -- The Financial Conduct Authority has fined three entities of BGC Partners Inc. £4.7 million ($5.7 million) for failing to ensure they had appropriate systems and controls in place to effectively detect market abuse.

Between July 2016 and January 2018, BGC Brokers LP, GFI Brokers Ltd. and GFI Securities Ltd. had deficient surveillance processes that meant there was an elevated risk that potentially suspicious trading would go undetected, the regulator said in a statement Thursday.

“Gaps or holes in a firm’s ability to monitor and detect abusive trading poses direct risks to market integrity,” Mark Steward, executive director of enforcement and market oversight, said in the statement.

BGC, which agreed to resolve the case at an early stage and qualified for a 30% discount, couldn’t be reached for comment. GFI was bought by BGC in January 2016.

--With assistance from Leonard Kehnscherper.

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