FXCM Settles CFTC Claims

The Commodity Futures Trading Commission said FXCM Inc. is paying more than $14.2 million to settle U.S. regulators’ claims.

The Commodity Futures Trading Commission (CFTC) said FXCM Inc. is paying more than $14.2 million to settle U.S. regulators’ claims, The Wall Street Journal reports. FXCM was accused of not properly overseeing handling of more than 57,000 accounts that used the New York–based firm’s foreign exchange trading platform.

The amount also settles charges that FXCM did not produce certain records promptly to the CFTC’s Division of Enforcement during its investigation. FXCM had also paid a $2 million fine to the National Futures Association, an industry group, in August.

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