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November 29, 2005
NFA fines New York forex firm
November 29, Chicago - National Futures Association has levied a $110,000 fine against Forex Capital Markets LLC (FXCM), a futures commission merchant forex dealer Member of NFA located in New York City. The Decision, issued by an NFA Business Conduct Committee on November 28, is based on an NFA Complaint alleging that FXCM and several of its non-Member introducing sales agents used misleading and deceptive promotional material.
FXCM has thirty days in which to pay the fine, which is part of a settlement offer FXCM submitted to NFA. The full text of the Decision and Complaint can be found on NFA's Web site (www.nfa.futures.org).
NFA is the premier independent provider of efficient and innovative regulatory programs that safeguard the integrity of the derivatives markets.