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My forex funds
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Retail FX
My Forex Funds Case: “Careless and Sloppy” CFTC Lead Attorney Admits Shortcomings
2024-12-09T12:33:49.087+02:00
Recent court filings revealed that Ashley Burden admitted being “careless and sloppy” while investigating My Forex Funds and its CEO.
However, the CFTC emphasised that their actions did not need to be flawless and that the staff's mistakes were "limited and inadvertent."
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Arnab Shome
Retail FX
Weekly Brief: My Forex Funds Negotiating with CFTC?, Bitcoin Nears $100K, and More
2024-11-23T05:00:00.000+02:00
Also this week, the SEC confirmed that Gary Gensler will step down on Jan. 20; eToro secured a New York license, while Italy's lawmakers rejected crypto tax hikes. Meanwhile, Revolut launched UK and EU stock trading, while CySEC canceled a few licenses.
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Jared Kirui
Retail FX
Exclusive: Prop Firm My Forex Funds and the CFTC Are Probably Negotiating a Settlement
2024-11-22T16:07:47.280+02:00
The CFTC charged the proprietary trading firm and its CEO with fraud.
The defendants have also countered by requesting a sanctions order against the regulator.
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Arnab Shome
Retail FX
My Forex Funds Case Gets Senator’s Interest: CFTC Chair Must Clarify “Process, Procedure”
2024-08-27T07:10:34.165+02:00
The US Senator from Iowa, Charles Grassley, has sent questionnaires to the CFTC Chair to clarify the misconduct and the steps taken to rectify such issues.
The Senator's letter came ahead of the court's evidentiary hearing on sanctions order against the CFTC.
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Arnab Shome
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Retail FX
My Forex Funds Clone Targets Traders While the Prop Trading Firm Battles CFTC at Court
2024-07-16T09:18:50.736+02:00
The clone gathered 28.1K followers on Instagram.
Meanwhile, the operations of the real My Forex Funds remain shuttered.
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Arnab Shome
Retail FX
My Forex Funds Case Misconduct: Embarrassment for CFTC, but Not Yet a Win for Prop Trading
2024-07-12T11:11:10.115+02:00
Last week, CFTC Commissioner Caroline Pham unexpectedly amplified MFF's allegations against the regulator.
Although the enthusiasm for protecting customers from fraud is justified, mishandled cases can result in prolonged litigation for prop companies.
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Eden Lang
Retail FX
CFTC Commissioner Drama and My Forex Funds Case: "Government Lawyers Can't Afford to Slip"
2024-07-10T15:40:00.000+02:00
The CFTC Commissioner Caroline D. Pham publicly criticised the agency’s enforcement division for falsifying documents in court in My Forex Funds’ case.
Although misrepresentations of facts often happen, it is unusual for the defendants to proceed with a sanctions motion.
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Zvi Gabbay
Retail FX
My Forex Funds Investigation Rattled by CFTC Commissioner Exposing Staff Misconduct
2024-07-04T08:54:36.177+02:00
The commissioner highlights potential false statements made to the court.
She is raising broader concerns about transparency and accountability within the CFTC
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Damian Chmiel
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Retail FX
My Forex Funds Fiasco: Will the CFTC Be Sanctioned Like the SEC in the DEBT Box Case?
2024-03-29T11:06:01.346+02:00
The prop firm is seeking a sanction order against the CFTC for “misrepresentation of facts.”
The regulator called the move “an apparent attempt to strongarm a more favorable settlement.”
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Arnab Shome
Retail FX
Breaking: My Forex Funds Seeks Sanctions against the CFTC
2024-03-08T08:19:49.226+02:00
In a motion submitted to court, My Forex Funds’ lawyers sought sanctions against the regulator for alleged misrepresentation of facts.
The CFTC slapped fraud charges on My Forex Funds last August and shuttered the prop trading business down.
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Arnab Shome
Retail FX
My Forex Funds Read the Fine Print: Did the CFTC File One Document Too Many?
2023-12-06T17:48:00.300+02:00
The prop firm claims that an email submitted by the regulator to court proves they "knowingly included false information."
Finance Magnates reached out to the CFTC but hasn't received any comment.
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Arnab Shome
Retail FX
Breaking: US Court Orders Release of Majority of My Forex Funds Founder's Assets
2023-11-15T00:03:40.463+02:00
Murtuza Kazmi will receive approximately $100 million, but $12 million remains frozen.
The court upheld the "first impression evidence" submitted by the CFTC against My Forex Funds.
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Yam Yehoshua
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Retail FX
Breaking: My Forex Funds Questions CFTC’s Jurisdictions on Its Business
2023-11-01T15:17:28.366+02:00
The defense lawyers filed a motion denying all allegations against the prop trading firm by the CFTC.
The motion stated transactions between MFF and its customers fall outside the scope of the regulator.
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Arnab Shome
Retail FX
My Forex Funds Fiasco Pushes Prop Trading Firms toward Transparency
2023-10-02T12:43:21.204+02:00
Prop trading firms can equate success rates of challenges to retail brokers' profitable traders.
Regulating this industry is complicated due to a lack of international co-ordination.
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Paul Golden
Retail FX
My Forex Funds and Deel Scandal as a Game-Changing Market Trend: Compliance First
2023-09-29T13:21:09.674+02:00
Deel's decision to cease services to My Forex Funds shows a new trend of prioritizing compliance.
The market's long-awaited move since the outcry of binary options has nullified the usual tech supplier excuse.
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Ella Rosenberg
Retail FX
Exclusive: My Forex Funds Claims CFTC “Mischaracterized” Its Tax Payments to Freeze Assets
2023-09-27T21:02:08.277+02:00
The prop trading firm filed a motion yesterday, seeking modification of the statutory restraining order.
My Forex Funds records show two pre-authorized payments of $27,000,000 CAD and $4,500,000 CAD, which the CFTC flagged.
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Arnab Shome
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