FXCM fined $843,000 by CFTC

CFTC says FXCM failed to report fraudulent activities


The Commodity Futures Trading Commission (CFTC) fined FXCM $843,000 on September 8 for failing to diligently supervise the handling of accounts held at the US retail foreign exchange broker in the name of fraudulent FX pool Revelation Forex Fund (RFF).

RFF was operated by Kevin White, who was sentenced earlier in 2015 to more than eight years of prison for mail fraud in a related criminal action.

The CFTC stated that from April 1, 2013 to July 10, 2013 FXCM failed to identify and promptly report

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