Fines and Penalties by Financial Commissions

I like to share all Fines and Penalties by Financial Commissions from all countries in same place.
I am mostly interested for Turkish SPK (CMB of Turkey ) Fines and Penalties. So it's hard for me to check other Financial Commissions for Fines and Penalties.

Why its important for me, my motivation is, how serious are the Fines and Penalties thats show how serious is the Financial Commissions.
Its give me trust so I can chose the best broker which is regulated by best Financial Commission.

Until now as I see the FCA from UK is the best regulator for FOREX trading.

I want to know for what kind a reasons other Financial Commission Fines and Penalties.

I will share from here the Turkish CMB Fines and Penalties.. I hope other will share from other Financial Commission Fines and Penalties.

CMB of Turkey Fines Turkish FOREX broker Destek Menkul with 21 560 TRY (apr 7500 USD).
The reason were company increase the SPREADs independent from the market price, just to make their customer to bankrupt.

The example given in Forexbrokerleri.com if client has two open position with same instrument, while there is no market price movement, if company just increas the SPREAD, client will be bankrupt. Its happend just for one tick in few milliseconds (1 second is 1000 milliseconds).

Regarding to smnweekly.com
Cyprus’ Securities and Exchange Commission (CySEC) announced it has fined the CommexFX forex broker another EUR 50 000 for submitting false documents. The decision was taken by CySEC’s board last month but is regarding the years 2012, 2013 and 2015 when the broker filed documents with false information on the company’s bank account balances.
This offense carries a maximum penalty of EUR 350 000.
This is the second fine CySEC imposes on CommexFX over a short period, after it fined it EUR 100 000 for dealing on “dealing on own account” in March and April 2015, without having authorization to do so.

The US (CFTC) ordered the US branch of the forex broker IBFX, a.k.a. Tradestation Forex, Inc. to pay a fine of $1 million. According to the announcement on the regulator’s website, the civil monetary penalty is imposed on the broker for failing to meet capital requirements in the period January 15, 2015 – February 5, 2015. Furthermore, the CFTC found that IBFX failed to notify it of the matter and to diligently supervise its employees in violation of the regulations.
The penalty is also for violating a previous CFTC order from December 2014, when the regulator fined the US branch of IBFX $600 000 for similar offenses. Back then the CFTC found that the broker fell below the capital requirements three times between December 2011 and June 2014.

Hong Kong’s regulator, theSecurities and Futures Commission (SFC) has reprimanded and fined $4 million the subsidiary of Yuanta Financial Holdings Co Ltd – Yuanta Securities (Hong Kong) Company Limited.
The penalty is imposed for failure to disclose the actual execution price and disclose the financial gains it made while handling bond transactions for its clients.
The SFC investigation found that between July and December 2012 Yuanta Securities earned $3.1 million in commission by manipulating the execution prices in some of the 256 transactions it made for 96 clients, but did not fairly and accurately disclose the fact to them.

Check this out. Not sure if its been posted yet.

http://financefeeds.com/no-trading-c...-investigates/

Sorry for off top guys, where can I find fines and penalties from CySec commission? thanks.

Speaking of CySEC fines, they also recently fined the investment firm Ouroboros Derivatives Trading Ltd a total of EUR 235 000 for non-compliance. The company operates the Anyoption binary options broker. This sum consists of eight different fines, ranging from EUR 10 000 for two failures to comply with its authorization conditions, to EUR 70 000 for providing unauthorized financial services.