I'm only aware of the CFTC/SEC/NFA actions against several brokers, Gain, FXCM and another one, plus of course FXDD now. There was some talk of a class action against FXCM but Jason was boasting recently of how it had been withdrawn or they had won it, I cant recall.Strange isn't it, particularly in the litigious US, that no-one seems to have taken the damn thing to the courts. I suppose it's a faint hope from the authorities, but one would have thought a criminal prosecution for "incitement to defraud" or some such should be possible. And/or a damages 'class action' type suit from disgruntled clients, particularly where the authorities have fined brokers for the practice.
Or has there?
Even stranger is the fact that FXCM were only required to compensate US based clients, they got to keep what they had obtained from clients from other countries.