| FOREX CAPITAL MARKETS LLC |
NFA 06BCC00046 |
NFA ID: 0308179 |
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| 0308179 | FOREX CAPITAL MARKETS LLC | 10/12/2007 | | 0308183 | NIV, DROR | 10/12/2007 |
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| 0308179 | FOREX CAPITAL MARKETS LLC | • C.R.2-36(b)(1) - CHEAT, DEFRAUD, DECEIVE FOREX CUSTOMERS | | | | • C.R.2-36(c) - FOREX DEALER MEMBERS OBSERVE HIGH STDS OF COMMERCIAL HONOR | | | | • C.R.2-9(c) - ANTI-MONEY LAUNDERING PROGRAM | | | | • C.R.2-36(e) - FOREX DEALER MEMBERS SUPERVISION OF EMPLOYEES | | 0308183 | NIV, DROR | • C.R.2-36(e) - FOREX DEALER MEMBERS SUPERVISION OF EMPLOYEES |
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| 0308179 | FOREX CAPITAL MARKETS LLC | • BUSINESS CONDUCT COMMITTEE | | | | • HEARING COMMITTEE | | 0308183 | NIV, DROR | • BUSINESS CONDUCT COMMITTEE | | | | • HEARING COMMITTEE |
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| 0308179 | FOREX CAPITAL MARKETS LLC | • GENERAL CONDUCT | | | | • SALES PRACTICE | | 0308183 | NIV, DROR | • GENERAL CONDUCT |
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| 0308179 | FOREX CAPITAL MARKETS LLC | • FINE $175000 | 09/27/2007 | | 0308183 | NIV, DROR | • DISMISSED | 09/27/2007 |
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| COMPLAINT:
On December 8, 2006, NFA issued a Complaint charging FXCM with using deficient promotional material and failing to uphold high standards of commercial honor and just and equitable principles of trade; and failing to establish and implement an adequate anti-money laundering program. The Complaint also charged FXCM and Niv with failure to supervise.
ANSWER:
On January 22, 2007, FXCM and Niv filed an Answer to the Complaint in which they denied the material allegations contained therein.
DECISION:
On September 27, 2007, FXCM was ordered to pay a $175,000 fine. The charges against Niv were dismissed, with prejudice.
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| COMPLAINT:
On December 8, 2006, NFA issued a Complaint charging FXCM with using deficient promotional material and failing to uphold high standards of commercial honor and just and equitable principles of trade; and failing to establish and implement an adequate anti-money laundering program. The Complaint also charged FXCM and Niv with failure to supervise.
ANSWER:
On January 22, 2007, FXCM and Niv filed an Answer to the Complaint in which they denied the material allegations contained therein.
DECISION:
On September 27, 2007, FXCM was ordered to pay a $175,000 fine. The charges against Niv were dismissed, with prejudice.
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