NFA cracks down on fraudulent brokers

- Saima Farooqi
- 30 Nov 2009

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CHICAGO – The US National Futures Association (NFA) continues to crack down on fraudulent foreign exchange brokers, imposing a five-year ban on James Morton, former principal of Florida-based GlobeFX Club, last week.

According to a notice issued on November 25, Morton has been barred from acting as a principal of an NFA member firm for five years. He will pay a fine of $10,000 in the event he reapplies for NFA membership or associate membership in the future.

Morton was a principal of GlobeFX, a

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