CFTC charges five entities for failing to register as FCMs

      The CFTC announced that it has filed charges against five entities for operating as unregistered futures commission merchants (FCM).

      The complaints allege that the entities have operated as FCMs and claim to be regulated by the CFTC, but in fact are not registered as required by the CEA. All the respondents claim to be one of the leading platforms offering binary options, forex and spreads to the general public. Four of the five websites also tout purported customer testimonials apparently claiming to have earned significant funds trading binary options with that respondent. As alleged in the complaints, none of these entities are registered with the CFTC in any capacity.

      The CFTC strongly urges the public to verify a company’s registration with the CFTC before committing funds. A company’s registration requirements can be found using NFA BASIC. More information can be found at If you cannot verify registration requirements, don’t trade, give any money or share your personal information with that entity.

      If you would like to find out more about how our US Compliance Team can help you with your CFTC requirements, please contact us below.

      Contact Us

      Previous post Next post

      More like this

      SEC releases updated Marketing Rule FAQs

      On January 11th, 2023, the SEC released an FAQ with responses to questions related to the adoption of amendments to…
      Read more

      SEC Marketing Rule Update: Approaching Deadline of 4 November 2022

      The deadline for compliance with the SEC’s new investment adviser Marketing Rule is November 4, allowing just one month for…
      Read more

      Is an outsourced CCO appropriate for your organization?

      Waystone Compliance Solutions provides outsourced CCO services to clients in the asset management and finance industry. As a truly global…
      Read more

      13H Large Trader Filing
      – Deadline Fast Approaching

      Please be advised that any amendments for changes that occurred on your 13H Large Trader filing during the second quarter…
      Read more

      Navigate Institutional Capital Raising & Build an Enduring Venture Firm

      CEO of Waystone Compliance Solutions, Julie Dixon, was featured as a panelist on a Carta webinar to discuss how fund…
      Read more

      SEC Releases Proposed Rules for ESG Funds

      SEC Releases Proposed Rules for ESG Funds
      Read more