One good part of the new CFTC regulations from last year is that the CFTC has some amazing new enforcement powers. I just got a note from a good friend of the FPA about the CFTC suing 14 forex brokers.
Many of these brokers are very well known to the FPA. Some are on good terms with the FPA. Some aren’t. All are invited to post public responses here about their point of view.
Here’s the press release….
RELEASE: PR5974-11
January 26, 2011
CFTC SUES 14 FOREIGN CURRENCY FIRMS IN NATIONWIDE SWEEP
The following companies were sued by the CFTC as part of this sweep:
EuroForex Development LLC, a Delaware LLC;
FIG Solutions Limited, Inc., a Delaware corporation;
ForInvest, a Delaware corporation;
FXOpen Investments Inc., a Delaware LLC;
FXPRICE, a Delaware LLC;
GIGFX, L.L.C., a Delaware company;
InovaTrade, Inc., a company with purported offices in Florida;
InstaTrade Corporation d/b/a InstaForex, a British Virgin Islands company;
InvesttechFX Technologies, Inc., a Canadian corporation located in Toronto;
J&K Futures, Inc., a company with purported offices in California and New York;
Kingdom Forex Trading and Futures, Ltd., a Nevada company;
Prime Forex, LLC, a Delaware LLC;
Wall Street Brokers, LLC, a Delaware LLC; and
ZtradeFX LLC, a Connecticut LLC.
Originalul aici: http://www.cftc.gov/PressRoom/PressReleases/pr5974-11.html via forum.vamist.ro