Breaking: CFTC Levies $7m Fine on FXCM, Forced to Quit US Market

[kreslik.news]

The US Commodity Futures Trading Commission (CFTC) has just issued an order against Forex Capital Markets, LLC (NASDAQ:FXCM), settling charges with the foreign exchange brokerage for $7 million in a civil monetary penalty for engaging in false and misleading solicitations. As such, FXCM and its CEO Drew Niv will be required to withdraw from CFTC regulation, per a regulatory filing.

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In particular, the CFTC order outlined charges against FXCM and its parent company, FXCM Holdings, LLC (FXCM Holdings), as well as the two paramount ... (read more)