La Commodity Futures Trading Commission a publié un communiqué de presse dans lequel elle annonce avoir la condamnation de Capital Market Services pour violation des règles relatives au montant minimal.
Selon la plainte déposée par la CFTC, entre les mois de mars 2009 et octobre 2012, Capital Market Services, un ancien courtier de devises étrangères reconverti en Futures Commission Merchant, n'a pas réussi à se conformer aux exigences financières minimales obligatoires pour les GCF et les RFEDs.
La CFTC a condamné le défendeur à payer une amende civile dont le montant s'élève à 275 000 dollars. Elle reconnaît toutefois la coopération et les actions correctives prises par le défendeur dès la découverte de ses lacunes.
The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges that, between March 2009 and October 2012, Capital Market Services, LLC (CMS), a CFTC-registered Futures Commission Merchant (FCM) and former Retail Foreign Exchange Dealer (RFED) headquartered in New York, New York, failed to comply with minimum financial requirements for FCMs and RFEDs. The CFTC Order requires CMS to pay a $275,000 civil monetary penalty and to cease and desist from violating the Commodity Exchange Act and CFTC Regulations, as charged.
The Order recognizes CMS’s cooperation and corrective action it undertook after its deficiencies were discovered.
According to the Order, under CFTC regulations, an FCM must maintain adjusted net capital (ANC) equal to or in excess of the greatest of $1,000,000 or various other measures, including the “amount of [ANC] required by a registered futures association of which it is a member.” Between January 2009 and mid-December 2010, while a Forex Dealer Member (FDM) with the National Futures Association (NFA), CMS was subject to the NFA’s FDM Financial Requirements, which imposed ANC requirements that ranged between $15,000,000 and approximately $21,000,000. CFTC Regulations also require that an RFED maintains ANC of $20,000,000 plus five percent of its total retail forex obligation in excess of $10,000,000 at all times. CMS’s ANC requirement as an RFED was approximately $21,000,000.
CMS did not maintain its required ANC during at least 17 separate months between March 2009 and October 2012, with month-end ANC computations showing that CMS was undercapitalized by more than $19 million at one point, the Order finds.
CMS has been registered with the CFTC as an FCM since January 2002 and was registered as an RFED from September 2009 to mid-December 2010. CMS also operated as an FDM from approximately January 2009 until mid-December 2010.
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