NFA
Emphatic FX Managed Account Suspended Whilst NFA Digs Deep during Investigation
Friday, 06/03/2015 | 07:23 GMT by
Adil Siddiqui
Global Futures Exchange Settles with NFA for $65,000
- Global Futures settles with the NFA in a case about "failure to maintain complete and accurate financial records, prepare accurate net capital computations, and comply with the equity withdrawal restriction."
Tuesday, 10/02/2015 | 08:36 GMT by
Ron Finberg
FXDD US Applies for Withdrawal of Introducing Broker License with the NFA
- According to a corporate announcement made by FXDD Global, the firm’s US unit has applied to withdraw its IB license due to the firm's concentration of efforts on its globally operating FXDD Global.
Saturday, 31/01/2015 | 03:48 GMT by
Victor Golovtchenko
Breaking: NFA Raises Margin Requirements for Swiss Franc, Swedish Krona and Norwegian Krone
Wednesday, 21/01/2015 | 23:11 GMT by
Ron Finberg
NFA Charged Introducing Broker FX Evolve for Offering Services to Traders with Criminal Past
- The NFA says that in connection with all the counts in this case it may impose a number of penalties including suspension from membership and a monetary fine not to exceed $250,000 for each violation.
Wednesday, 31/12/2014 | 10:32 GMT by
Avi Mizrahi
NFA's Head on the Defense against Allegations of Nomination "Improprieties"
- The US self regulatory organization has issued a response to fierce accusations by a fellow member James Koutoulas, regarding the 2014 public director nominations: "we deny each and every false allegation."
Tuesday, 30/12/2014 | 22:43 GMT by
Adil Siddiqui
Introducing Broker BBFX Fined $25,000 by Overzealous American Watchdog for Non-US Business
- The NFA decided that BBFX failed to implement an adequate customer identification program for foreign clients introduced to brokers outside the US, monitor accounts for suspicious activity, and conduct AML training.
Monday, 29/12/2014 | 20:17 GMT by
Avi Mizrahi
American Watchdog Hits FXDD with Another $500,000 Fine, Limits It to Operate Only as IB
- The company behind the U.S entity of FXDD, New York based FXDirectDealer LLC, has settled to pay another $500,000 for inadequate anti-money laundering program and failure to supervise operations and employees.
Wednesday, 10/12/2014 | 19:13 GMT by
Avi Mizrahi
US Regulator Delivers a Blow to Retail Forex, Kiwis Are Better Off
- Forex Magnates spotlights this week's news from around the world, with credit card ban in the US, license exemptions in New Zealand and a first Chinese brokerage allowed to trade on the spot FX market.
Sunday, 07/12/2014 | 11:46 GMT by
Avi Mizrahi
NFA Credit Card Ban to Dampen Operating Environment, New Payment Methods Required
- The NFA’s planned D-Day on credit card usage in the US for forex and futures trading is expected to shake-up the market, in anticipation of the rules brokers are sourcing new payment methods.
Wednesday, 03/12/2014 | 23:42 GMT by
Adil Siddiqui
US Brokers to Face New Reporting Practises under NFA’s Segregated Funds Reports
- US Financial services providers will be required to submit their semi-monthly segregated client funds data under new requirements. The watchdog requires firms to submit important client money data in percentages.
Monday, 03/11/2014 | 21:56 GMT by
Adil Siddiqui
NFA Bars Bullion Trading Advisor Years after He Stopped Operations and Left the US
- The association said that it started its investigation of Success Bullion in 2014 but the firm did not operate for at least two years before. The owner migrated back to Taiwan in June 2011 and shut down the company.
Monday, 27/10/2014 | 11:50 GMT by
Avi Mizrahi
IFG Markets, Wilson Cheng Permanently Barred from NFA Following Settlement
- Following an earlier compliant and allegations of illicit recordkeeping practices and fraud by the NFA, IFG Markets LLC and Wilson Cheng have been permanently banned from membership, reaching a settlement.
Thursday, 09/10/2014 | 18:29 GMT by
Jeff Patterson
Who Needs Credit Cards When There Is ACH? – FOREX.com Partners with Knox Payments
- Providing a solution for the NFA's recent ban on using credit cards to fund US forex trading accounts, GAIN Capital has partnered with ACH bank to bank transfer provider, Knox Payments for FOREX.com.
Thursday, 02/10/2014 | 08:54 GMT by
Ron Finberg
NFA Tightens Reporting Rules for FDM on Customers' Liabilities
- Starting from October 15th, Forex Dealer Members will have to inform each qualifying institution about their assets holdings used to cover the liabilities to its retail forex customers on a daily basis.
Wednesday, 01/10/2014 | 13:37 GMT by
Victor Golovtchenko
FXDD Slapped with Another $600,000 Related to More Undercapitalization Discoveries
- Forex Magnates reported earlier this month about a National Futures Association (NFA) complaint which was served to the company and its CEO Joseph Botkier, which was related to more undercapitalization occurrences.
Wednesday, 24/09/2014 | 18:40 GMT by
Victor Golovtchenko
Exclusive: NFA Issues a Complaint against FXDD, Raising Allegations on Five Counts
- According to information exclusively obtained by Forex Magnates the company is facing up to $1,250,000 in fines from the NFA, as charges are raised against FXDD and its CEO, Joseph Botkie.
Thursday, 04/09/2014 | 21:17 GMT by
Victor Golovtchenko
Colorado Company R2 Capital Charged with Fraud and Misappropriation by the CFTC
- After the NFA provided a lead in December last year, the CFTC has charged R2 Capital Group LLC. and its owners its owners, Ryan Tomazin, Ryan Madigan, Randell A.Vest with fraud and misappropriation.
Thursday, 21/08/2014 | 22:18 GMT by
Victor Golovtchenko
Quebec's AMF Issues Warning against Unauthorized Activity of 24 Companies in Canada
- Canada’s Autorité des marchés financiers (AMF) has issued a warning to Quebec investors about the use of forex and binary options platforms, specifically citing 24 companies that are presently unauthorized in Canada.
Tuesday, 12/08/2014 | 17:17 GMT by
Jeff Patterson
NFA Slams the Door on ILQ on Its Way out from the US with Massive Fine
- After ILQ already dropped its Retail Foreign Exchange Dealer License in April, the NFA now placed a permanent ban from membership on the firm and orders it to pay a fine and restitution of about $350,00.
Wednesday, 30/07/2014 | 08:47 GMT by
Avi Mizrahi
Global Futures Exchange and Trading Co Hit with NFA Complaint
- The National Futures Association (NFA) published last Friday six separate complaints it has issued against member firms which were filed on June 30th. Among those issued complaints was Global Futures and Trading.
Sunday, 06/07/2014 | 08:48 GMT by
Ron Finberg
US Forex Credit Card Ban Set to Become Law as NFA Approves Measure
- The US National Futures Association (NFA) has announced today that its board has approved banning the use of credit cards for funding forex accounts. The law is pending approval from the CFTC.
Monday, 23/06/2014 | 19:39 GMT by
Ron Finberg
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