April 07, 2014 BY Gerald Segal

CMS Forex fined $275,000 by CFTC for being undercapitalized

Violations occurred between 2009-2012, CMS was undercapitalized by more than $13 million at one point. The CFTC has fined Capital Market Services LLC, parent of CMS Forex, a total of $275,000. The CFTC has found that CMS did not maintain its required capital levels during at least 17 separate months between March 2009 and October…

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