This is the new MLex platform. Existing customers should continue to use the existing MLex platform until migrated.
For any queries, please contact Customer Services or your Account Manager. Dismiss

TFS-ICAP to pay $7 million for deceptive trading practices in FX options markets

( December 14, 2020, 22:02 GMT | Official Statement) -- MLex Summary: Interdealer broker TFS-ICAP has been ordered by a US federal court to pay a $7 million civil monetary penalty for representing to clients bids and offers that had not been made, and for communicating to clients trades that had not occurred, the US Commodity Futures Trading Commission announced. In the order, TFS-ICAP admits that its employees engaged in the misconduct, known as “flying” prices and “printing” trades, that violated the Commodity Exchange Act, as charged. The order also fines TFS-ICAP’s former chief operating officer and emerging markets desk head $500,000 each for supervisory failures.Statement and document follow below:...

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.


Know what others in the room don’t, with features including:

  • Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
  • Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
  • Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
  • Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login

Documents

Related Sections