Retail brokers slammed by NFA

Bedminster, NJ-based Gain Capital is to pay a $459,000 fine as a result of an NFA complaint, and a settlement offer submitted by Gain and its chief executive, Glenn Stevens, earlier this summer (FX Week July 12).

NFA's Business Conduct Committee said Gain engaged in abusive margin, liquidation and price slippage practices that benefited Gain to the detriment of its customers. The Committee also alleged Gain failed to maintain records for some unfilled orders, neglected to adequately review the

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