CFTC: FXCM To Pay Over $14.2 Million To Settle Charges
--CFTC says FXCM will pay $14.2 million to settle charges that it didn't always offer clients best exchange rates
--CFTC settlement covers 57,000 customers accounts from June 2008 until December 2010
--Analysts: pricing practices described in CFTC settlement widespread in retail currency brokerage industry
(Adds analyst comment in fifth paragraph.)
NEW YORK (Dow Jones)--FXCM Inc. (FXCM) agreed to pay over $14.2 million to settle charges that the retail foreign-exchange brokerage didn't always offer clients the best exchange rates, the Commodity Futures Trading Commission said ...
http://online.wsj.com/article/BT-CO-20111003-712195.html
--CFTC says FXCM will pay $14.2 million to settle charges that it didn't always offer clients best exchange rates
--CFTC settlement covers 57,000 customers accounts from June 2008 until December 2010
--Analysts: pricing practices described in CFTC settlement widespread in retail currency brokerage industry
(Adds analyst comment in fifth paragraph.)
NEW YORK (Dow Jones)--FXCM Inc. (FXCM) agreed to pay over $14.2 million to settle charges that the retail foreign-exchange brokerage didn't always offer clients the best exchange rates, the Commodity Futures Trading Commission said ...
http://online.wsj.com/article/BT-CO-20111003-712195.html
