Trading.com fined $50,000 to settle NFA charges
The NFA's Business Conduct Committee (BCC) charged Trading.com with failing to file timely daily financial reports, daily trading reports, and monthly financial reports.
The National Futures Association (NFA) has just released information on its recent enforcement actions.
On February 27, 2024, NFA's Business Conduct Committee (BCC) filed a complaint against Trading.com Markets Inc. (Trading.com). The complaint alleges that Trading.com failed to timely submit daily financial reports, daily trade reports, and monthly financial reports.
The complaint also alleges that Trading.com failed to comply with FDM internal financial control requirements and did not effectively supervise.
On May 8, 2024, the BCC of NFA issued a decision based on Trading.com's settlement proposal, ordering Trading.com to pay a $50,000 fine.
The BCC's decision also orders Trading.com to cease violations of NFA financial requirements Sections 11(e), 13(a), and 15; as well as NFA Compliance Rules 2-36(e) and 2-48(a).
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