Velocity Futures Agrees to Pay a Penalty to Settle Charges That It Failed to Comply with Its Minimum Financial Requirements

The CFTC settled charges against Velocity Futures, LLC for failing to comply with the minimum financial requirements for FCMs. According to the CFTC, Velocity failed to meet the minimum adjusted capital requirement because it did not properly account for certain events relating to two arbitration awards issued by the NFA. Velocity agreed to pay a $300,000 civil monetary penalty.

See:CFTC Order; CFTC Press Release.