CFTC Sues 14 Foreign Currency Firms in Nationwide Sweep

CFTC SUES 14 FOREIGN CURRENCY FIRMS IN NATIONWIDE SWEEP Action represents first use of new authority under the 2008 Farm

CFTC SUES 14 FOREIGN CURRENCY FIRMS IN NATIONWIDE SWEEP

Action represents first use of new authority under the 2008 Farm Bill and Dodd-Frank Act to regulate foreign exchange dealers.

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Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced that it simultaneously filed 13 enforcement actions in Federal District Courts in Chicago, the District of Columbia, Kansas City and New York, alleging that 14 entities are illegally soliciting members of the public to engage in foreign currency (forex) transactions and that they are operating without being registered with the CFTC.

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