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January 24, 2008
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National Futures Association fines forex firm
January 24, Chicago - National Futures Association (NFA) has levied a $60,000 fine against IFX Markets, Inc (IFX). IFX is a Futures Commission Merchant and Forex Dealer Member located in London, England with a branch office in Boston, Massachusetts. The Decision, issued by NFA's Business Conduct Committee, is based on a Complaint filed in January 2008 and a settlement offer submitted by IFX.
The Committee found that IFX failed to supervise its promotional material and that both IFX and its unregistered solicitors used deficient promotional material in the solicitation of forex (foreign currency futures and options) customers.
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the derivatives markets.