Retail FX crackdown in US
WASHINGTON, DC - Regulators in the US continued to clamp down on retail foreign exchange brokers failing to meet stringent regulations last week, in an effort to curb retail foreign exchange fraud.
The US securities broking regulator, the Financial Industry Regulatory Authority (Finra), struck Maximum Financial off its membership list for violating net capital requirements and a failure to seek approval to launch retail FX broking services.
The Missouri-based broker fell short of capital
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