FXCM issues not a US problem, says Massad

US regulator points finger of blame at affiliates outside US jurisdiction

pointing-fingers

The chairman of the Commodity Futures Trading Commission (CFTC) has said the financial difficulties experienced by retail foreign exchange broker FXCM after the 30% move in EUR/CHF on January 15 were not caused by the firm's US entity, but rather the leverage limits available in its foreign subsidiaries.

Speaking at a press briefing on March 11 at the Futures Industry Association's conference in Boca Raton, Florida, Timothy Massad responded to a question from FX Week about what the CFTC was

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