CFTC files a suit against forex broker Tallinex for accepting US clients | Forex Factory

  • CFTC files a suit against forex broker Tallinex for accepting US clients

    From forexbrokerz.com

    The US Commodity Futures Trading Commission (CFTC) has filed a lawsuit against offshore forex brokerage Tallinex for illegally soliciting and accepting at least $1.5 million from US clients. Allegedly, the violations have been committed in the period September 2012 – September 2016 and the case will be heard by a district court in Utah. The news of the lawsuit comes after CFTC has included Tallinex on its warning Red list of unregistered brokerages last April. Tallinex was established in Estonia, but is registered in Saint Vincent and the Grenadines, an offshore zone known for its easy and low-cost incorporation ... (full story)

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Trainman
Jun 2, 2017 8:43am
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Don't you just love Nanny States that are always there to slap your hand and tell you that you can't have something?
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Olsh
Jun 2, 2017 10:52am
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Quoting clockwork71
Thank God they are protecting us.
Next week, the House will vote to dismantle DoddFrank. The era of taxpayer bailouts and TooBigToFail is over.

The Dodd–Frank Act is that this law limited the leverage offered by US forex brokers to 1:50, imposed the first-in-first-out (FIFO) rule, and prohibited hedging.
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yolo
Jun 2, 2017 5:20pm
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Quoting rdesisto
Oldh, My memory could be bad, but I believe the NFA and CFTC did all the things you mentioned. DoddFrank drove most of the US Forex brokers out of business and all of the non US brokers out.
NFA and CFTC Enforced the law (Dodd Frank)
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clockwork71
Jun 2, 2017 8:30am
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Thank God they are protecting us.
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rdesisto
Jun 2, 2017 11:17am
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Oldh,
My memory could be bad, but I believe the NFA and CFTC did all the things you mentioned. DoddFrank drove most of the US Forex brokers out of business and all of the non US brokers out.
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Trader#7537
Jun 2, 2017 6:19pm
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cftc and nfa needs to drop FIFO
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