NFA Slaps $50K Penalty on for Reporting Violations Markets agreed to pay $50,000 and cease violations after U.S. regulator NFA alleged the forex firm missed financial and trade activity reporting deadlines.

Key Insights

  • The NFA fined forex dealer Markets Inc. $50,000 for failing to file timely financial and trade reports.
  • was accused of violating NFA rules by not submitting daily reports on finances.
  • The firm agreed to pay the fine and cease violating NFA reporting requirements.

CHICAGO (MarketsXplora) – The U.S. National Futures Association said on Tuesday it has fined forex dealer Markets Inc $50,000 after the company failed to file timely financial and trade data reports required by the self-regulator.

In a complaint issued on Feb. 27, the NFA’s Business Conduct Committee (BCC) alleged that violated several NFA financial requirements by not submitting daily reports on its finances and trading activity, as well as monthly financial statements.

The complaint also accused the firm of failing to maintain proper internal financial controls and adequate supervisory procedures, the NFA said., without admitting or denying the allegations, submitted an settlement offer that was accepted by the BCC in a decision dated May 8, according to the NFA.

As part of the settlement, the Auckland, New Zealand-based firm was ordered to pay a $50,000 fine and cease and desist from further violations related to NFA financial reporting requirements and compliance rules. did not immediately respond to a request for comment.

The NFA is an independent self-regulatory organization for the U.S. derivatives industry, including forex dealers servicing American clients.

Last year, it brought over two dozen cases against brokers involving anti-money laundering compliance lapses and other supervisory failures.

The regulator routinely publishes disciplinary notices to inform members and the public about its enforcement actions against firms and individuals violating NFA rules.

Samson Ononeme

Meet Samson Ononeme, a dynamic writer, editor, and CEO of With a passion for words and a sharp business acumen, Samson captivates readers with captivating storytelling and delivers insightful market analysis. He is a trailblazer in the finance industry, empowering individuals with knowledge and shaping the narrative of money. Get ready to be inspired by his literary prowess and entrepreneurial leadership.

Leave a Reply