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September 26, 2007
National Futures Association fines Interbank FX LLC $100,000
September 26, Chicago - National Futures Association (NFA) has ordered Interbank FX LLC (Interbank FX), a Futures Commission Merchant and Forex Dealer Member located in Salt Lake City, Utah, to pay a fine of $100,000. The Decision, issued by an NFA Hearing Panel, is based on a Complaint filed in April 2007, and a settlement offer submitted by Interbank FX.
The Panel found that Interbank FX used misleading promotional material and that Interbank FX failed in its duty to supervise the contents and use of its promotional material to ensure its compliance with all NFA Requirements.
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the derivatives markets.