CFTC Charges New Zealand Broker with Unregistered Forex Trading

The CFTC filed a civil enforcement complaint charging a New Zealand forex broker and two of its agents with soliciting and accepting at least $50 million for off-exchange margined retail foreign currency trading, which the broker and agents effected without being registered with the CFTC.

The CFTC reported that it is seeking "restitution, rescission, disgorgement, civil monetary penalties, trading and registration bans and permanent injunctions against further violations of the registration provisions of the CEA and CFTC Regulations."