Court fines FXCM over SNB undercapitalisation

CFTC filed a complaint after having to reach out to FXCM to learn of the $200 million shortfall

Better than that: the CFTC said FXCM should have known it was facing a capital deficit

FXCM has been ordered to pay a $650,000 fine to settle undercapitalisation charges brought by the US Commodity Futures Trading Commission (CFTC), after the retail broker failed to report in a timely manner any deficits resulting from the Swiss National Bank's de-pegging of the franc from the euro two years ago.

The consent order, filed on February 13 in the US District Court for the Southern District of New York, states that FXCM has 10 days to pay the civil monetary penalty before it begins to