New NFA Rulings to Segregated Accounts – Go Live Date 1st September 2012

by Adil Siddiqui at Forex Magnates

Post PFG collapse the NFA has been trying hard to resolve its mess by introducing some quick fixes. The latest ruling which goes live on 1st September kindly requests the FCM to send a notification to the regulator if there are…

NFA’s lack of intelligence strikes again: Alpari fined $200,000 for cancelling illicit traders

by Michael Greenberg at Forex Magnates

Reading the details of this case you just can’t help but wonder what is NFA all about? NFA is simply doing what it wants, interprets the rules only in the way that suits it and…

It was about time.... I just can applause the initiative that Attain Capital Management - a Forex and Futures firm approved by the NFA with the ID number 0322102 - has just launched at the…

Peregrine’s Fraud Went Undetected in Two U.S. Agency Reviews

By Silla Brush at Bloomberg

The U.S. Commodity Futures Trading Commission reviewed operations at Peregrine Financial Group Inc. at least twice since 2006 without detecting the fraud that led to the collapse of the futures broker and a $200 million shortfall in…

A little bit late for PFGBest clients....

Francesc

CFTC Approves New Financial Rules Submitted by the National Futures Association to Strengthen the Protection of Customer Funds Held by Futures Commission Merchants

Washington, DC – The Commodity Futures Trading Commission (Commission or CFTC) today approved new financial rules submitted by the National Futures…

Bravo for this article!!!

Just bravo!

Francesc

(PFG) BEST foot forward?

by Paul Holmes, guest author at Forex Magnates

Suicide is painless, the pain is always felt by those left behind..or stiffed…

At the foot of the PFGBest site is a section titled “disaster recovery”. Many desperate clients, who will have visited the futures broker’s…

If you are affected by PFGBest fraud, you should not miss this special webinar we are putting with the help of the attorney Elan Mendel at Shipkevich PLLC this Friday July 13th 2012... I hope it will be useful for you.

Help us to spread the word

Francesc

PFGBest Case: Discussion with Attorney Elan Mendel…

CFTC Files Complaint Against Peregrine Financial Group, Inc. and Russell R. Wasendorf, Sr. Alleging Fraud, Misappropriation of Customer Funds, Violation of Customer Fund Segregation Laws, and Making False Statements

Commission Seeks an Order Freezing Assets and Restitution of Customer Funds.

Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) announced today…

Federal Court in Texas Orders Robert Mihailovich, Sr. and Growth Capital Management LLC to Pay over $9.3 Million in CFTC Anti-fraud Action

Washington, DC - The U.S. Commodity Futures Trading Commission (CFTC) today announced that it obtained an order of permanent injunction against defendants Robert Mihailovich, Sr. (Mihailovich, Sr.) of Rockwall, Texas, and Growth Capital Management LLC…

This is not good for the industry....

Francesc

NFA hits FXDD with multiple charges including asymmetric slippage, fine will cost it over $3.5m

by Michael Greenberg at Forex Magnates

NFA just charged FXDD with myriad accounts of alleged violations of its rules. Details are below. To the…

Narrative for 0381324 - GOLDEN FOREX INC

COMPLAINT:

On October 17, 2011, NFA issued a Complaint charging Golden Forex with submitting false and misleading information to NFA and failing to terminate an AP.

DECISION:

On February 8, 2012, Golden Forex was permanently barred from NFA…

Hi everyone

A few days ago I published here that the NFA had issued a Complaint Against Currensee With Failing To Implement Anti-Money Laundering Program

All the information we've got so far is in NFA's case summary from the link above.

Asaf , whom it was recently interviewed at FXstreet's Forex Visionaries Series (…

Narrative Summary
Narrative for 0403251 - CURRENSEE INC
COMPLAINT:
On December 23, 2011, NFA issued a Complaint charging Currensee with failing to implement an AML program.

Case Summary

I've been told that specifically they have increased forex only IB'S and CTA's annual dues from $750.00 per year to $2,500.00 while the futures members will remain at 750.00 but we are both covered by the same rules etc.. is that fair???

Francesc

NFA forex dues to increase by February

by CFTCLaw

The CFTC has approved amendments to NFA bylaws 1301 and 1302,…

NFA keeps choking the forex industry – aggressively raises member fees

by Michael Greenberg at Forex Magnates

NFA is doing an amazingly effective job at spitting in the well it drinks from. In fact NFA behaves not as a regulator but as a controlling shareholder of its members – as it basically does whatever it wants when it comes to requirements…

Michael... you rock!

ZuluTrade will pay signal providers only for profitable months, charged by NFA

by Michael Greenberg at Forex Magnates

ZuluTrade finally made an important update to how it compensates signal providers – from now on those providers will be paid for volume made by their followers only if the month was profitable. This…

NFA finalizes forex amendments

By CFTC Law

The NFA has finalized several proposed amendments to rules governing forex dealer members (“FDM”). These amendments were first proposed September in rule submission letters to the CFTC. One set of changes will come into effect next month, while the second will not be in place until January.

The first set of amendments…