Tag: missing client funds

February 03, 2015 BY Maria Nikolova

FCA reports some client funds missing in Liquid Markets bankruptcy

The Financial Conduct Authority (FCA), the UK watchdog responsible for the supervision of investment companies, earlier today issued its official stance on the situation at Liquid Markets, the broker that stopped operations in the aftermath of Black Thursday. While the bulk of the information that the regulator provides in this FAQ-like announcement may seem trivial…

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April 19, 2013 BY Gerald Segal

LeapRate FX Fraud Watch – InovaTrade and Michael Alcocer

CFTC fines Alcocer and InovaTrade more than $38 million and permanently bans them. The CFTC has received a federal court order requiring Michael Alcocer and his company InovaTrade to pay a fine of more than $38 million. Alcocer (as well as his company) was also permanently banned from trading or registration with the CFTC. Not much is…

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March 28, 2013 BY Gerald Segal

LeapRate FX Fraud Watch – $3.2 million fine to Victor Yu and VFRS

Claimed its software had shown positive returns on every trade it ever made. Did people actually believe that??? The CFTC has fined California-based Victor Yu his company VFRS a total of $3.2 million in a foreign currency fraud action.  The order finds that Yu and VFRS misrepresented that they had developed trading software that made forex…

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