November 16, 2016

IB Capital FX, LLC (a/k/a IB Capital FX (NZ) LLP) d/b/a IB Capital, Michel Geurkink, and Emad Echadi, were ordered to pay $35 million in restitution to defrauded customers and a $420,000 civil monetary penalty for soliciting and accepting at least $50 million from approximately 1,850 customers for off-exchange margined retail foreign currency trading without being registered with the CFTC.  CFTC

Tagged in: Regulatory Violations,