CFTC Enforcement Actions - London-based Forex Capital Markets Ltd. Ordered to Pay $140,000 Penalty to Settle CFTC Charges of Acting as an Unregistered Retail Forex Exchange Dealer

London-based Forex Capital Markets Ltd. Ordered to Pay $140,000 Penalty to Settle CFTC Charges of Acting as an Unregistered Retail Forex Exchange Dealer

Order: Forex Capital Markets Ltd.

August 3, 2011

CFTC Press Release 6087-11

The CFTC settled charges that Forex Capital Markets Ltd. of London, U.K. acted as a retail foreign exchange dealer (RFED) by conducting retail leveraged forex transactions with U.S. customers without registering with the CFTC under the agency's regulation 5.3(a)(6)(i).

The CFTC order finds that, from October 18, 2010 through October 29, a period of 11 days immediately following implementation of the new regulations, FXCM Ltd. acted as an RFED counterparty to U.S. customers who were non-Eligible Contract Participants in connection with leveraged retail forex transactions without registering as an RFED.

Cross References

CEA Section 2(c)(2)(B)(i); CFTC Rule 5.3(a)(6)(i).