Another FX trader fined

The Swedish Financial Supervisory Authority (Finansinspektionen) fined the Stockholm-based bank Skr50 million ($7.8 million) on October 1, in its first-ever penalty on a retail FX company. It also issued a strong warning to the bank, which narrowly escaped suspension.

Forex Bank has been under investigation since April 21, after routine regulatory checks revealed severe failures in risk management, including poor customer identity verification and transactions scrutiny. The bank was also found

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