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August 31, 2017

Posted  August 31, 2017

The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against Ikon Global Markets, Inc. (Ikon) for failing to keep and promptly produce documentation for thousands of gold Exchange for Physical (EFP) trades, in violation of the Commodity Exchange Act (CEA) and CFTC Regulations. The trades were entered into by Ikon and reported to the NASDAQ OMX Futures Exchange, Inc. (NFX). The CFTC Order requires Ikon to pay a $200,000 civil monetary penalty, to cease and desist from further violations of the CEA and CFTC Regulations, as charged, and to withdraw from, and never apply for, registration with the CFTC. CFTC

Tagged in: Fraud in CFTC-Regulated Markets,