NFA fines IBFX over compliance failures
WASHINGTON, DC - The US National Futures Association (NFA) has ordered Interbank FX (IBFX) and its chief executive officer, Todd Crosland, to jointly pay a $225,000 fine for money laundering compliance failures, and failure to supervise electronic trading.
The Utah-based foreign exchange broker and Crosland were found guilty after failing to file a suspicious activity report (SAR) regarding an unnamed customer-soliciting agent that had provided information to the broker containing
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