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Regulation

Marex's X-Change Financial Hit with $400,000 NFA Fine over Controls

  • Chicago-based broker and its exec Timothy Hendricks were hit with an NFA penalty for recordkeeping violations and supervision failures.
  • Hendricks faces a 90-day suspension from supervisory roles and shares a $100,000 liability of the total fine.
Thursday, 21/11/2024 | 08:32 GMT by Damian Chmiel
Regulation

Chicago Broker Hit With NFA Complaint After Alleged Prison-Call Trading Found

  • NFA files a complaint against NinjaTrader and its president for alleged AML violations and inadequate monitoring.
  • The firm allegedly failed to investigate suspicious activities in multiple customer accounts properly.
Wednesday, 20/11/2024 | 09:07 GMT by Damian Chmiel
Retail FX

Sigma Broking Settles NFA Complaint, Agrees to $150K Fine

  • The introducing broker violated NFA rules related to anti-money laundering audits and supervision.
  • Sigma neither admitted nor denied the allegations.
Wednesday, 29/05/2024 | 07:08 GMT by Damian Chmiel
Retail FX

NFA Fines Braemar Securities $140,000 for Lapses in Recordkeeping Compliance

  • The regulator accused the broker of improper disclosure of customers' confidential information.
  • The NFA has emphasized the significance of safeguarding clients' sensitive data.
Wednesday, 15/11/2023 | 21:45 GMT by Jared Kirui
Retail FX

NFA Slaps $350K Fine on GMG Brokers and Its CEO

  • The company and the two employees settled by paying the penalty.
  • The other employee has been facing an NFA membership ban for four months.
Thursday, 02/03/2023 | 06:51 GMT by Arnab Shome
Executives

StoneX Hires SWIFT’s Edward Phelps as Head of Sales Strategy

  • Phelps brings about a decade of experience to the role.
  • The NFA slapped a $1 million fine on subsidiary StoneX Markets on Thursday.
Friday, 13/01/2023 | 19:48 GMT by Solomon Oladipupo
Institutional FX

NFA Fines StoneX Markets $1 Million for Compliance Failures

  • The company agreed to settle but did not accept or deny the allegations.
  • Earlier, NFA slammed penalty on GAIN Capital, another subsidiary of StoneX Group.
Friday, 13/01/2023 | 11:44 GMT by Arnab Shome
Retail FX

NFA Fines Interactive Brokers $250k for Retail FX, Supervisory Failures

  • Interactive failed to heed a warning issued in May 2021, NFA says.
  • The broker also ignored a directive from the NFA for three months after the deadline.
Saturday, 16/04/2022 | 09:56 GMT by Solomon Oladipupo
Binary Options

NFA Fines US Broker, Coquest, $275,000 for Compliance Failure

  • Woodbine, an LLC founded by Coquest Pres. & VP in 2010, has been allegedly trading futures without CFTC’s nod.
  • NFA charged Coquest with failure to supervise conduct of its employees and agents.
Friday, 01/04/2022 | 06:57 GMT by Solomon Oladipupo
Retail FX

NFA Orders Introducing Broker Marex to Pay a $250,000 Fine

  • The decision is based on a complaint by the BCC and an offer by Marex.
  • The company allegedly allowed unregistered individuals to act as associated persons.
Wednesday, 30/03/2022 | 19:48 GMT by Felipe Erazo
Regulation

NFA Sounds Alarm over Phishing Emails Impersonating Its Staff

  • The mass email scam appears to be from the source domain name '@nfa-futures.org'.
Wednesday, 03/03/2021 | 22:05 GMT by Aziz Abdel-Qader
Regulation

NFA Bans Investment Advisor Monsoon and Founder Prakash

  • Prakash has been ordered to not reapply for membership for seven years.
Thursday, 06/08/2020 | 08:39 GMT by Celeste Skinner
Regulation

Trading.com Secures US Approval to Operate as FX Firm

  • The brand of the Trading Point Group has been registered by the NFA as a forex firm.
Tuesday, 21/04/2020 | 09:28 GMT by Celeste Skinner
Institutional FX

NFA Hikes Margin Requirements for Norwegian Krone and Mexican Peso

  • NFA requires investors to put a minimum margin of 7% of their Krone trades and 12% of leveraged bets on the Peso.
Friday, 20/03/2020 | 23:14 GMT by Aziz Abdel-Qader
Regulation

CFTC Charges Denari Capital & Co, with $8.3 Million FX Fraud

  • The fraudsters managed to con at least 28 participants, the CFTC alleges.
Wednesday, 06/11/2019 | 07:20 GMT by Celeste Skinner
Regulation

NFA Bars Fortress for Helping FX Traders Get Around Regulations

  • Fortress told clients to open their accounts from foreign jurisdiction under the name of a friend.
Friday, 20/09/2019 | 20:45 GMT by Aziz Abdel-Qader
Brokers

Taiwan Firm Cancels NFA Application for FX Dealer Member Status

  • Nanshan Jinchuang Co originally applied for the status in May of this year.
Thursday, 18/07/2019 | 07:57 GMT by Celeste Skinner
Regulation

Two More Brokers Applying For Retail FX Licenses in the US

  • Brightwin Securities and Nanshan Jinchuang both applied to become registered as NFEDs by the NFA last month
Monday, 17/06/2019 | 09:18 GMT by David Kimberley
Regulation

NFA Fines East West Global $750,000 for Overcharging Clients

  • The filing also said the company failed to adequately disclose the high fees and poor overall performance of the pools.
Wednesday, 10/04/2019 | 16:47 GMT by Aziz Abdel-Qader
Analysis

US Retail FX Market Survived the Worst and Is Finally Growing

  • Are we observing the rebirth of the US market and are more brokers to come?
Wednesday, 27/03/2019 | 08:36 GMT by Sylwester Majewski
Regulation

Hong Kong’s SFC Warns Against Fake NFA-Regulated FX Broker

  • HKJHFX operates in Hong Kong but falsely claims to be regulated by the US National Futures Association (NFA).
Thursday, 13/12/2018 | 15:34 GMT by Aziz Abdel-Qader
Brokers

IG Group Gets US Regulatory Approval

  • The firm's Chicago office should start operations in the next couple of months
Tuesday, 16/10/2018 | 08:25 GMT by David Kimberley
Regulation

NFA Hikes Margin Requirements for Turkish Lira and South African Rand

  • The move requires investors to put a 12 percent margin of their trades on the Lira and seven percent of bets in the rand.
Thursday, 20/09/2018 | 20:53 GMT by Aziz Abdel-Qader
Regulation

NFA Fines Global Asset Advisors $235,000 for Supervisory Breach

  • While NFA’s ban was into effect, Global Asset Advisors permitted an account to be opened for the trader's wife.
Monday, 17/09/2018 | 21:31 GMT by Aziz Abdel-Qader
Regulation

NFA Announces Set of New Disclosure Requirements for Virtual Currencies

  • The new requirements are effective from October 31, 2018, and apply to all members who engage in virtual currency activities.
Thursday, 09/08/2018 | 17:15 GMT by Celeste Skinner
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