February 09, 2017 BY Valentina Kirilova

SFC reprimands and fines GMO-Z.com Forex HK Limited $1.6 million

The Securities and Futures Commission (SFC) has reprimanded and fined GMO-Z.com Forex HK Limited (GMOHK) $1.6 million for deficiencies in its order execution and slippage handling procedures, and failures in its electronic trading system for leveraged foreign exchange contracts. In August 2016, the SFC and GMOHK jointly engaged an independent reviewer to review GMOHK’s controls,…

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