NFA levies $2,000,000 monetary sanction against FXCM and orders refunds to customers

This is a discussion on NFA levies $2,000,000 monetary sanction against FXCM and orders refunds to customers within the Brokerages forums, part of the Commercial category; Originally Posted by tar i remember Jason said something about some of Fxcm's partners reimbursing fxcm with the whole amount ...

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Old Aug 17, 2011, 4:08pm   #89
 
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Re: NFA levies $2,000,000 monetary sanction against FXCM and orders refunds to custom

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Originally Posted by tar View Post
i remember Jason said something about some of Fxcm's partners reimbursing fxcm with the whole amount ...
That's correct. The settlement amount and the client price improvement credit will have no negative impact on FXCM's financial balance sheet because several founding partners of FXCM have reimbursed the company for the credit and the fines. As of June 30, 2011, FXCM Inc. had over $200 million in cash and no debt.

-Jason
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Old Aug 18, 2011, 9:00am   #90
Joined Oct 2006
Re: NFA levies $2,000,000 monetary sanction against FXCM and orders refunds to custom

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Originally Posted by Jason Rogers View Post
That's correct. The settlement amount and the client price improvement credit will have no negative impact on FXCM's financial balance sheet because several founding partners of FXCM have reimbursed the company for the credit and the fines. As of June 30, 2011, FXCM Inc. had over $200 million in cash and no debt.

-Jason
You're a record breaker.

http://latimesblogs.latimes.com/mone...ever-fine.html
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