Tag: US forex regulation

CFTC offices
July 31, 2018 BY LeapRate Staff

CFTC sues Forex Broker JAFX for taking US based customers

The U.S. Commodity Futures Trading Commission (CFTC) has announced that it has filed a civil enforcement action in the U.S. District Court for the District of Utah against JAFX Ltd. of Sofia, Bulgaria and Kingstown, St. Vincent and the Grenadines. The CFTC Complaint alleges that, from at least September 2016 and continuing to the present, JAFX operates as a…

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March 30, 2016 BY Maria Nikolova

FXPA urges FX exemption from new SEC derivatives rules

The Foreign Exchange Professionals Association (FXPA), a Forex trade body that commenced operations in September 2014, today announces that it has submitted comments to the U.S. Securities and Exchange Commission (SEC) regarding proposed rules governing the “Use of Derivatives by Registered Investment Companies and Business Development Companies”. FXPA is calling for an exemption for FX…

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March 15, 2016 BY Maria Nikolova

NFA bans IBFX from membership

Less than a day after IBFX Inc (TradeStation Forex) was ordered by the CFTC to pay a $1 million civil monetary penalty for violating capital requirements, the broker encountered further sanctions from US authorities. The U.S. National Futures Association (NFA) announced today that it has ordered IBFX, Inc. (IBFX), an NFA Member registered retail foreign exchange…

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November 06, 2015 BY Maria Nikolova

CFTC orders $3.2B in total monetary sanctions against wrongdoers in FY 2015

The U.S. Commodity Futures Trading Commission (CFTC) today published the agency’s enforcement results for fiscal year (FY) 2015, which included a record $3.144 billion in civil monetary penalties and $59 million awarded in restitution and disgorgement orders. During FY 2015, over $2.8 billion was collected and deposited at the U.S. Treasury - the highest figures…

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October 24, 2015 BY Maria Nikolova

US Forex brokers face tighter cybersecurity requirements

Soon after US Forex broker FXCM Inc (NYSE:FXCM) announced it was a victim of a criminal cybersecurity incident involving unauthorized access to customer information, the US financial industry regulators are stepping up their efforts to improve information systems security. The National Futures Association (NFA) announced on Friday that it will tighten the requirements regarding cybersecurity for…

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