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Asymmetrical Positive Price Slippage

asymmetrical price slippage dodd-frank nfa compliance rule 2-36

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#1 whipsaw

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Posted 13 August 2011 - 07:39 AM

Die NFA greift durch....

NFA levies $2,000,000 monetary sanction against FXCM and orders refunds to customers
August 12, Chicago - National Futures Association (NFA) has issued a Decision imposing a $2,000,000 monetary sanction against Forex Capital Markets LLC (FXCM) in settlement of a Complaint issued by NFA's Business Conduct Committee on August 12, 2011.

The Complaint cited FXCM for retaining gains derived from asymmetrical positive price slippage; failing to adopt or carry out adequate procedures to ensure the efficient execution of all customer orders; failing to treat all customers equally when giving price adjustments; failing to adequately investigate suspicious activity in several customers' accounts; and - together with its principal Dror Niv - failing to supervise. FXCM is a Futures Commission Merchant, Retail Foreign Exchange Dealer, and Forex Dealer Member located in New York, New York.

In addition to the $2,000,000 monetary sanction, FXCM must credit the accounts of its customers the amount of asymmetrical positive slippage which its customers experienced on their trades from and after June 18, 2008 and provide verification to NFA of these credits. In the future, FXCM is prohibited from engaging in price slippage or margin liquidation practices, as described in the Complaint. FXCM must also enhance existing procedures to ensure efficient execution of customer orders and compliance with NFA's anti-money laundering requirements.


Anklageschrift:
Attached File Complaint_ForexCapitalMarketsLLC&DrorNiv_2011_0812.pdf   491K  2 downloads

Entscheidung:
Attached File Decision_ForexCapitalMarketsLLC&DrorNiv_2011_0812.pdf   597.71K  3 downloads

Quelle: NFA


Börsenkurs FXCM
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#2 whipsaw

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Posted 08 July 2012 - 08:26 AM

und wieder einer... diesmal FXDD


Attached File Complaint_FxDirectDealerLLC&JamesGreen_2012_0629.pdf   1.12MB  5 downloads

siehe auch Case Documents Summary
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Also tagged with one or more of these keywords: asymmetrical price slippage, dodd-frank, nfa compliance rule 2-36

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