CFTC orders FXCM to pay $7 million penalty for defrauding retail customers
( February 6, 2017, 21:55 GMT | Official Statement) -- MLex Summary: The US Commodity Futures Trading Commission on Monday settled charges against Forex Capital Markets, its parent company, and two founding partners for $7 million. The order finds that from September 2009 to 2014, FXCM engaged in false and misleading solicitations of its retail foreign exchange customers by concealing its relationship with its most important market maker and misrepresenting that its "No Dealing Desk" platform had no conflicts of interest with its customers. Statement follows in full. Also see document below. ...
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