September 17, 2014

The CFTC issued an order settling charges against Sean F. McCabe, a resident of Sunny Isles, Florida, and his company, WorldPMX, Inc., for engaging in illegal, off-exchange precious metals transactions and for operating WorldPMX as an unregistered Futures Commission Merchant (FCM).  The order requires McCabe and WorldPMX jointly to pay restitution totaling $1,048,807 and a civil monetary penalty of $140,000, and imposes permanent registration and trading bans on McCabe and WorldPMX.  CFTC

Tagged in: Regulatory Violations,