CFTC Orders LMC Asset Management to Pay $140,000 Civil Penalty for Forex Registration Violations

The CFTC announced today that LMC Asset Management violated new Forex registration procedures stemming from the Dodd Frank Act. The result of the violation was a cease and desist order of all trading activity until a $140,000 civil penalty is paid. LMC exercised discretionary trading authority over accounts of individuals that were not eligible contract participants.

View press release in full here(links externally to CFTC website).