Search Results for: National Futures Association
FXCM to exit U.S market following the penalty; Sells accounts to Gain Capital
February 7th, 2017
Following the penalty imposed by CFTC, FXCM has issued an announcement to inform that FXCM US reaches Settlement with NFA and CFTC, the company to Exit the U.S., sells Accounts to GAIN and the company to Pay down Loan. ...
FXCM and its founding partners ordered to pay a $7 Million Penalty
February 7th, 2017
CFTC Orders Forex Capital Markets, LLC (FXCM), Its Parent Company, FXCM Holdings, LLC and FXCM’s Founding Partners, Dror Niv and William Ahdout, to Pay a $7 Million Penalty for FXCM’s Defrauding of Retail Forex Customers FXCM, Niv, and Ahdout ...
Trader and a trading company ordered to pay $2.5 Million Penalty
December 21st, 2016
Federal Court Orders Chicago Trader Igor B. Oystacher and 3Red Trading LLC to Pay $2.5 Million Penalty for Spoofing and Employment of a Manipulative and Deceptive Device, while Trading Futures Contracts on Multiple Futures Exchanges The Court’s Order Finds ...
CFTC Orders Convergent Wealth Advisors LLC to Pay an $800,000
December 20th, 2016
CFTC Orders Convergent Wealth Advisors LLC to Pay an $800,000 Civil Monetary Penalty for Fraudulent Omissions and False Statements in Connection with an Employee’s Commodity Pool David Zier made fraudulent representations and issued false statements to clients in connection ...
CFTC approved rules for swap dealer and major swap participant minimum capital requirements
December 5th, 2016
The U.S. Commodity Futures Trading Commission (CFTC) today unanimously approved proposed rules establishing swap dealer (SDs) and major swap participant (MSPs) minimum capital requirements. As required by the Dodd Frank Wall Street Reform and Consumer Protection Act, the rules ...
Former CBOE Member to pay $21.8 Million in a Ponzi Scheme
December 1st, 2016
CFTC Obtains $21.8 Million Default Judgment against Former CBOE Member Alvin Guy Wilkinson and his Connecticut-based Firms for Misappropriation of Customer Funds and Fraudulent Solicitation in Ponzi Scheme The U.S. Commodity Futures Trading Commission (CFTC) announced that Judge Virginia ...
UK located commodity pool operator and commodity trading advisor ordered to pay a $60,000 fine
November 7th, 2016
NFA orders London, England, commodity pool operator and commodity trading advisor The Cambridge Strategy Asset Management Limited to pay $60,000 fine National Futures Association (NFA) has ordered The Cambridge Strategy Asset Management Limited(Cambridge), an NFA Member commodity pool operator (CPO) ...
NFA permanently bars introducing broker
October 5th, 2016
National Futures Association (NFA) has permanently barred Chicago, Ill., introducing broker Vankar Trading Corp. (Vankar) from membership and from acting as principal of an NFA Member. In addition, NFA has barred John S. Karvelas, sole principal and an associated person of Vankar, ...
FXCM Issues Statement on CFTC Complaint
August 22nd, 2016
FXCM has issued a statement in relation to the complaint filed by CFTC on August 19, 2016. Below is the FXCM’s statement as it was published on August 19, 2016: FXCM Inc. (NYSE:FXCM) (or the “Company”), today issued a statement ...
CFTC charges Forex broker FXCM with Undercapitalization
August 19th, 2016
The CFTC Complaint, filed on August 18, 2016, alleges that FXCM, as an RFED in the business of offering or engaging in retail off-exchange foreign currency transactions, was required to maintain adjusted net capital of approximately $25 million on ...
