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Trading Firm Settles CFTC Charges for Acting as Unregistered Foreign Exchange Dealer

A trading firm settled CFTC charges for acting as an unregistered retail foreign exchange dealer.

According to the CFTC, the trading firm operated a website where it offered off-exchange foreign currency trading in Vietnamese Dong and Iraqi Dinar to U.S. customers who were not eligible contract participants.

The CFTC stated that the charges were "substantially reduced" to a civil monetary penalty of $75,000 because of the trading firm's cooperation in the investigation. Additionally, the trading firm agreed to (i) cease and desist from violating CFTC rules and (ii) comply with the conditions and undertakings outlined in the Offer.

Primary Sources

  1. CFTC Order: Treasury Vault, LLC
  2. CFTC Press Release: CFTC Sues Unregistered Retail Forex Exchange Dealer

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Tags

Regulated Activities
Registration Requirement
Regulated Products
Currency / FX
Body of Law
CEA Regulation
Jurisdiction
US - Federal
Organization
CFTC, NFA, CFTC Markets
Sub-Author
CFTC